Monday, June 2, 2014

Chilliwack* Real Estate Review and Analysis May 2014


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 184 sales of single family houses and 93 sales of strata homes such as townhouses, and apartments in May 2014. A total of 277 residential properties representing a 17% increase in sales volume over April.  Very nice, since April was a very good month as well for the sale of Chilliwack* homes.  

So far, the first 5 months of 2014 have been the best real estate market conditions we have seen in some time, and, indications are that this trend will last for some time.


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.


Stephen Mullock sells Garrison Crossing




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 184 sales of single family houses in May 2014.

Agassiz Rancher $329,900 click picture for more details
The 184, Chilliwack* real estate board single family detached, sales were more than the April 2014 total of 151 - but in part this reflects a seasonal effect. 
  
A list to sale ratio of 19.6% is up from 17% a month earlier indicating 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.

MONTHSales/Average Sale Price/Days on Market/Active Listings
May 2014184$358,00053970
Apr 2014151$346,00059907
May 2013151$337,00062n/a




Median SALE Price of Chilliwack* Single Family Detached Homes (SFD)
  • 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:
    • 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

      MonthJanFebMarAprMayJunJulyAugSeptOctNovDec
      201494%100%82%95%100%






      201397%68%60%75%82%83%82%87%105%79%83%80%
      201281%67%77%77%83%70%88%54%70%88%91%80%
      201185%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 93 sales of strata homes (apartments, townhouses) in May 2014.


      Townhouses in Garrison Crossing



      The 93, Chilliwack* real estate board strata sales were comparable in strength to the April 2014 total of 86.  93 sales beat the 89 sales that would usually be expected for May based on a 10-year average.
        
      A list to sale ratio of 18% indicates that the market is still moving from a Buyer's to a Balanced 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.


      
      MONTHSales/Average Sale Price/Days on Market/Active Listings
      May  2014 93$208,00078537
      Apr  2014 86$218,00067512
      May 2013 76$211,00084n/a


      Median SALE Price of Chilliwack* Strata Homes:
      • 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:
        • 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

        MonthJanFebMarAprMayJunJulyAugSeptOctNovDec
        201490%66%72%106%105%






        2013100%81%89%73%87%99%84%85%79%108%68%90%
        201293%78%96%70%87%85%97%67%89%76%114%82%
        2011100%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.


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        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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