2014 continues to be a good year for the sale and purchase of real estate in the Chilliwack Real Estate Board. The sale of single family houses remained strong and the strata market returned to form this month after some slippage in the sale of strata homes in July. Prices are for the most part are unchanged this year and still very competitive. Low mortgage rates and a recovery in the economy are the driving forces behind the strength in the market. Inventory levels are currently dropping due to demand and seasonal factors.
Some of the best buys can be found in the Agassiz community a 20 minute drive from Chilliwack.
The Chilliwack* real estate board area (CADREB) which includes the outlying communities of Agassiz, Harrison Hot Springs, Hope and parts of the Fraser Cascade Regional District recorded 163 sales of single family houses and 65 sales of strata homes such as townhouses, and apartments in July 2014.
So far, the first 8 months of 2014 have been the best real estate market conditions we have seen in since 2007, and, indications are that this trend will continue.
This report divides Chilliwack* residential properties into two classifications; single family detached and strata. There is often a significant difference in market vigour between the two classifications and for this reason I like to view them separately.
Sales of Single Family Detached Houses
The
Chilliwack* real estate board area (CADREB) which includes the outlying communities of Agassiz, Harrison Hot Springs, Hope and parts of the Fraser Cascade Regional District recorded a total of 163 sales of single family houses in August 2014. This was down a little from the July total of 166 sales of Chilliwack single family homes but we anticipate fewer sales in August compared to July.
Based on a 10-year average for August we should expect about 140 sales - so it was well above the "norm".
A list to sale ratio of 16.7% is down from the 19.4% of two months ago but it is still indicating that there is a balanced competitive market for Chilliwack* single family detached homes.
Please remember to use the services of a Realtor© to maximize your chances for a successful purchase or sale. Give me a call if you are looking for professional service in the Chilliwack, Agassiz, Kent or Harrison Hot Springs areas.
MONTH | Sales/ | Average Sale Price/ | Days on Market/ | Active Listings |
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Aug 2014 | 163 | $334,000 | 63 | 956 |
Jul 2014 | 166 | $358,000 | 61 | 998 |
Aug 2013 | 124 | $330,000 | 66 | n/a |
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As "average sale prices" can be impacted in a disproportionate manner by the sale of high-end properties the "median" is often considered a better measure of where values are, as follows:
Median SALE Price of Chilliwack* Single Family Detached Homes (SFD)
- August 2014 - $339,500
- July 2014 - $346,000
- June 2014 - $337,500
- May 2014 - $349,000
- April 2014 - $341,500
- March 2014 - $347,500
- February 2014 - $339,000
- January 2014 - $348,000
- December 2013 - $334,500
- November 2013 - $334,000
- October 2013 - $321,000
- September 2013 - $336,000
- August 2013 - $309,500
- July 2013 - $347,500
- June 2013 - $349,500
- May 2013 - $339,500
- April 2013 - $338,000
- March 2013 - $364,000
- February 2013 - $315,000
Median LISTING Price of active Chilliwack* Single Family Detached Real Estate Homes:
- September 2, 2014 - $358,500
- August 1, 2014 - $359,900
- July 1, 2014 - $359,900
- June 2, 2014 - $359,900
- May 2, 2014 - $364,900
- April 8, 2014 - $359,900
- March 3, 2014 - $354,900
- February 1, 2014 - $349,900
- December 3, 2013 - $359,900
- November 1, 2013 - $359,000
- October 1, 2013 - $364,900
- September 3, 2014 - $358,000
- August 1, 2013 - $349,900
- July 2, 2013 $359,900
- June 4, 2013 $365,000
- May 2, 2013 $369,900
- April 1, 2013 $359,900
2013 - 2011 Market Strength for Chilliwack* Single Family Houses
Single Family House Monthly Unit Sales as % of a 10-Year Monthly Sales Average
Month | Jan | Feb | Mar | Apr | May | Jun | July | Aug | Sept | Oct | Nov | Dec |
2014 - % | 94% | 100 | 82 | 95 | 100 | 110 | 104 | 116 |
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2013 | 97% | 68% | 60% | 75% | 82% | 83% | 82% | 87% | 105% | 79% | 83% | 80% |
2012 | 81% | 67% | 77% | 77% | 83% | 70% | 88% | 54% | 70% | 88% | 91% | 80% |
2011 | 85% | 91% | 75% | 70% | 68% | 93% | 74% | 86% | 86% | 70% | 86% | 92% |
Sales of Strata Homes (Apartments, Townhouses etc.)
The
Chilliwack* real estate board area (CADREB) which includes the outlying communities of Agassiz, Harrison Hot Springs, Hope and parts of the Fraser Cascade Regional District recorded a total of 65 sales of strata homes (apartments, townhouses) in August 2014.
The 65, Chilliwack* real estate board strata sales were very similar to July's total when 69 sales were recorded. Based on a 10-year average for August we should expect about 67 sales.
A list to sale ratio of 12.9% indicates that the market remains in Balanced territory calming fears that it was moving into a Seller's market for Chilliwack* strata homes.
Once again, please remember to use the services of a Realtor© to maximize your chances for a successful purchase or sale. Give me a call if you are looking for professional service in the Chilliwack, Agassiz, Kent or Harrison Hot Springs areas.
MONTH | Sales/ | Average Sale Price/ | Days on Market/ | Active Listings |
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Aug 2014 | 65 | $231,000 | 84 | 489 |
Jul 2014 | 69 | $226,000 | 63 | 522 |
Aug 2013 | 57 | $212,000 | 94 | n/a |
Median SALE Price of Chilliwack* Strata Homes
- August 2014 - $234,500
- July 2014 - $234,000
- June 2014 - $219,500
- May 2014 - $220,500
- April 2014 - $220,500
- March 2014 - $243,000
- February 2014 - $239,000
- January 2014 - $216,000
- December 2013 - $232,500
- November 2013 - $202,000
- October 2013 - $199,500
- September 2013 - $212,500
- August 2013 - $209,900
- July 2013 - $231,500
- June 2013 - $211,000
- May 2013 - $211,000
- April 2013 - $204,000
- March 2013 - $229,000
- February 2013 - $208,000
Median LISTING Price of active Chilliwack* Strata Real Estate Listings:
- September 2, 2014 - $216,900
- Aug 1, 2014 - $214,900
- July 1, 2014 - $219,000
- June 2, 2014 - $219,900
- May 2, 2014 - $214,900
- April 8, 2014 - $219,000
- March 3, 2014 - $219,900
- February 1, 2014 - $219,900
- January 2, 2014 - $212,500
- December 3, 2013 - $214,900
- November 1, 2013 - $214,900
- October 1, 2013 - $214,900
- September 3, 2013 - $194,500
- August 1, 2013 - $212,000
- July 2, 2013 - $213,900
- June 4, 2013 - $214,900
- May 2, 2013 - $210,000
- April 1, 2013 - $212,500
- March 1, 2013 - $209,900
- February 1, 2013 - $217,500
2011 - 2013 Strata Market Strength
Strata Home Monthly Unit Sales as % of a 10-Year Monthly Sales Average
Month | Jan | Feb | Mar | Apr | May | Jun | July | Aug | Sept | Oct | Nov | Dec |
2014 - % | 90% | 66 | 72 | 106 | 105 | 134 | 86 | 97 |
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2013 | 100% | 81% | 89% | 73% | 87% | 99% | 84% | 85% | 79% | 108 | 68% | 90% |
2012 | 93% | 78% | 96% | 70% | 87% | 85% | 97% | 67% | 89% | 76% | 114 | 82% |
2011 | 100% | 105 | | 85% | 86% | 84% | 66% | | 66% | | | 91% |
The information presented in this post has been prepared by the author Stephen Mullock, using information from the Chilliwack and District Real Estate Board. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information are not guaranteed.In providing this information, neither Stephen Mullock nor the Chilliwack & District Real Estate Board assumes any responsibility or liability.Copyright © 2014 Stephen Mullock. All rights reserved. Reproduction in whole or part is prohibited without written permission.Imagine living here...
Stephen Mullock
is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales.
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