Wednesday, March 4, 2015

Chilliwack* Real Estate Sales Review and Analysis February 2015

February 2015, was a beautiful month in Chilliwack, British Columbia.  While the eastern provinces of our great country were battling snow and double digit below zero temperatures we were enjoying unseasonably warm weather. Flowers were popping up and buds formed on trees. Plenty of sun, blue skies - all seemed right in the world - so why did I ruin it by looking at the Chilliwack* February 2015 real estate numbers?  What a let down.  Is that a cloud on my generally cheerful disposition?  It might well be.

Saint Thomas, Chilliwack©Stephen Mullock

January, was a super month for the sale of single family houses the best since 2007. In contrast, last month very simply was the worst Chilliwack real estate "February" market in 20 years. 

There were still sales of course and prices remained strong. The average sale price for the 73 single family house sales in Chilliwack* rose to $360,000 the median sale price to $374,500.  The list-to-sale relationship for Chilliwack* single family homes a healthy 98%.

The average sale price of the 31 Chilliwack* strata homes was up also, to $240,000 the median sale price $251,500.  The list to sale ratio here - 98%. Just the total numbers of sales were down.

Was this a one off or a sign that the oil economy has a lot more to do with our local real estate market than we'd like to admit?

I am going for a walk in the sunshine, might even say a prayer, tomorrows another day.

The information reported 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 such information, neither Stephen Mullock nor the Chilliwack & District Real Estate Board assumes any responsibility or liability.

Copyright © 2015 Stephen Mullock. All rights reserved. Reproduction in whole or part is prohibited without written permission.

Stephen Mullock
is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.

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