Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Seller market with average listing inventories, 40 %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 $400,000 - $550,000 have 48.4 %SOLD rate.
Least Active Range: Homes below $400,000 have 27.8 %SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $192,251.
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $139,842.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Chilliwack has average Listing supply; 208 homes are for sale and with the 40 %SOLD monthly rate gives us a ~3 months of inventory. 1% of the Active Listings have reduced their price by $18,367 on average or $25,000 on median. We project Chilliwack Detached to be a continued Seller market.
January'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 is a whopping increase $52,706! This is the Second Highest January Price increase on record since 2016. At the same time, the Fraser Valley Detached Markets went up this month with many buyers competing in bidding wars. The Monthly Price jumped up $45,108 on average. This is the Highest January 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 in 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 $4,969. At the same time, 27 out of 28 Townhouse Markets increased an average of $16,662. 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.