Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Stable market with average listing inventories, 12 %SOLD rate, and the Sale Price/List Price=75%.
(This means that there is an average of $16,900 discount on a sale from the original list price)Lesson
Most Active Range: Homes between $400,000 - 550,000 have 16.5 %SOLD rate.
Least Active Range: Homes above $900,000 have 6.9%SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $52,000.
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $74,913.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Chilliwack has average Listing supply; 487 homes are for sale and with the 12 %SOLD monthly rate gives us a ~8 months of inventory. 13% of the Active Listings have reduced their price by $22,124 on average or $15,350 on median. We project Chilliwack Detached to be a continued Buyer market.
February's Real Estate Statistics shows some of our Markets stabilizing with 44% of Vancouver's Detached Markets increasing values this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $13,230 which is the same as last month's price drop of $13,255. On Average, the Fraser Valley's Market is balanced with just a $464 monthly price decrease. The following month's forecasts are continued Buyer's Detached Market across most of Vancouver and a Stable Market in the Fraser Valley.
Currently, the Condo Market presents a Cooler Market with 63% of Greater Vancouver (Lower Mainland) with decreasing prices. At the same time, 67% of Townhouse Markets are decreasing. (16 out of 28 Markets). We are forecasting a continued Buyers Market in all Condo/Townhouse Markets for the short term. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. 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.