Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Seller market with average listing inventories, 36 %SOLD rate, and the Sale Price/List Price=99%.
(This means that there is an average of $6,900 discount on a sale from the original list price)Lesson
Most Active Range: Homes between $550,000 - $640,000 have 43.6 %SOLD rate.
Least Active Range: Homes above $975,000 have 22.0 %SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $95,038.
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $59,679.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Chilliwack has average Listing supply; 283 homes are for sale and with the 36 %SOLD monthly rate gives us a ~3 months of inventory. 11% of the Active Listings have reduced their price by $21,252 on average or $15,000 on median. We project Chilliwack Detached to be a continued Seller market.
December's Real Estate Statistics continue to show a highly emotional market. We have seen 100% of the Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Price jumped up to $56,358! ON the other hand, December's Real Estate Statistics shows that in this highly emotional market that 100% of the Fraser Valley Detached Markets went up this month. The Average Monthly Price jumped up a whopping $40,716. This is the Highest December Price increase on record. This seller's market is partly due to the fact that we have Record-Low listing levels. We are forecasting that the Metro Vancouver Markets will continue to be a Seller's Market for the coming month.
Currently, Condos are in a more subdued Seller's Market with 60% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was a mere $1,522. At the same time, 26 out of 28 Townhouse Markets increased an average of $7,187. We analyze and provides 97 individual City's Home Price Indexes to supply you with the MOST ACCURATE Market Trends every Saturday. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighborhood.