Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Seller market with average listing inventories, 52 %SOLD rate, and the Sale Price/List Price=102%.
(This means that there is an average of $20,000 discount on a sale from the original list price)Lesson
Most Active Range: Homes between $550,000 - $640,000 have 70.0 %SOLD rate.
Least Active Range: Homes below $400,000 have 23.5 %SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $269,000.
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $189,015.
*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 52 %SOLD monthly rate gives us a ~2 months of inventory. 9% of the Active Listings have reduced their price by $79,910 on average or $51,000 on median. We project Chilliwack Detached to be a continued Seller market.
March's Real Estate Statistics show that we are still in the highly emotional "Gold Fever"market. We have seen 100% of the Single-Family Homes in Metro Vancouver go up this month with most buyers competing in bidding wars. The Average Monthly Price increase is a whopping $84,263! This is the Highest Price increase on record since 2016. ON the other hand, 100% of Fraser Valley Detached Markets went up this month with a whopping $60,306 monthly price changes on average. This seller's market is partly due to the fact that we have Low listing levels. We are forecasting that in the Metro Vancouver Markets will continue to be a Strong Seller's Market for the coming month.
Currently, Condos are in a more subdued Seller's Market with 100% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. The average monthly price increase was a $17,534. At the same time, all Townhouse Markets increased an average of $37,065. 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.