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Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Seller market with average listing inventories, 22 %SOLD rate, and the Sale Price/List Price=100%.
(This means that there is an average of $0 discount on a sale from the original list price)Lesson
Most Active Range: Homes between $950,000 - $1,075,000 have 28.6 %SOLD rate.
Least Active Range: Homes between $1.35 mill. - $1.6 mill. have 11.5 %SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $547,536.
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $251,528.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Chilliwack has average Listing supply; 490 homes are for sale and with the 22 %SOLD monthly rate gives us a ~5 monthly rate gives us a ~5 months of inventory. 17% of the Active Listings have reduced their price by $80,794 on average or $53,700 on median. We project Chilliwack Detached to be a continued Seller market.
Greater Vancouver April 2022:
Vancouver home prices increased by just $2,372 in April. This is a big drop from the $59,777 increase that we saw in March. This is partially caused by the erosion of consumer confidence with the $2/litre gas prices, interest rates, and economic woes. We are now forecasting that the majority of the Metro Vancouver Markets will be in a Buyers’ Market the next month. The Fraser Valley has already switched to a Buyer's Market with prices dropping a whopping ($43,918).
Currently, the Condo Market is still Stable with an Average Price Increase of $1,617. Meanwhile, Townhouse Markets have switched to a Buyer's Market with an ($8,069) average price decrease. We analyze and provide 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.
Fraser Valley April 2022:
The Fraser Valley's Detached Home Market has now dropped for the 2nd month in a row. The Average Home Price decreased ($43,918) which is a big change from the $2,921 drop that we saw in March. This adjustment is partially caused by the erosion of consumer confidence with the $2/litre gas prices, interest rates, and economic woes. This is the 4th lowest monthly price decrease we have seen on record. We are now forecasting that the majority of the Fraser Valley Market continues to be in a Buyer's Market in the next coming months.
Currently, the Condo Market is still Stable with an Average Price Increase of $1,617. Meanwhile, Townhouse Markets have switched to a Buyer's Market with an ($8,069) average price decrease. We analyze and provide 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.
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