Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Stable market with average listing inventories, 15 %SOLD rate, and the Sale Price/List Price=99%.
(This means that there is an average of $9,900 discount on a sale from the original list price)Lesson
Most Active Range: Homes between $640,000 - $725,000 have 33.3 %SOLD rate.
Least Active Range: Homes above $975,000 have 20.9 %SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $50,001.
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $7,134.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Chilliwack has average Listing supply; 451 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 $19,013 on average or $15,000 on median. We project Chilliwack Detached to be a continued Stable market.
August's Real Estate Statistics shows that 97% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $5,594 which is the highest increase we have seen this year or for any August on record. On the Other hand, All Fraser Valley Detached Markets went up this month with $4,373 monthly price increase on average. Thus, we are forecasting that in the Metro Vancouver Markets will Seller's Market continue for the coming month.
Currently, Condos are also in a Seller Market with 90% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $1,036. At the same time, the Townhouse Markets increased $1,885. That is 23 out of 28 Markets increased (83%). We analyze and provide 97 individual City's Home Price Indexes to supply you 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.