Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Stable market with average listing inventories, 15 %SOLD rate, and the Sale Price/List Price=98%.
(This means that there is an average of $15,500 discount on a sale from the original list price)Lesson
Most Active Range: Homes between $400,000 have 19.7 %SOLD rate.
Least Active Range: Homes above $900,000 have 9.7%SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $72,767.
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $87,049.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Chilliwack has average Listing supply; 531 homes are for sale and with the 15 %SOLD monthly rate gives us a ~7 months of inventory. 15% of the Active Listings have reduced their price by $18,760 on average or $15,300 on median. We project Chilliwack Detached to be a continued Stable market.
March's Real Estate Statistics shows some of our Markets are NORMALIZING with 54% of Vancouver's Detached Markets increasing values this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $5,048 which is an improvement from last month's $13,230 price drop. On Average, the Fraser Valley's Market significantly improved with $2,661 monthly price increase. The following month's forecasts are: a Stable Detached Market across most of Vancouver and a Seller Market in the Fraser Valley.
Currently, the Condo Market presents a Cooler Market with 67% of the Greater Vancouver (Lower Mainland) are decreasing prices. On the other hand, 61% of the Townhouse Markets are increasing. (17 out of 28 Markets). We are forecasting a continued Buyer’s Market in all Condo Markets whereas Townhouse Markets are Stabilizing. 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.