Home Trends From Sophie Beamish

Sophie Beamish

HOME SALES REMAIN SUBDUED BUT STILL RISING ON A MONTHLY BASIS CHILLIWACK FRASER VALLEY

AVG. SALE PRICE Single Family Dwelling $914,600

AVG. SALE PRICE Townhouse $620,200

AVG. SALE PRICE Single Family Dwelling $1,517,100

AVG. SALE PRICE Townhouse $846,900

ACTIVE LISTINGS 983 MONTHS OF INVENTORY 4.4 Chilliwack, April 2024 – The number of homes sold through the MLS® System of the Chilliwack and District Real Estate Board totaled 266 units in March 2024. “Although sales activity came in below last year’s March reading, we are still seeing signs of a slow and steady improvement on a month-by-month basis in our market,” said Steven Kelly, President of the Chilliwack and District Real Estate Board. “New supply is holding strong and the level of overall available inventory is just slightly above average levels. Once demand appears more substantial there will be an ample number of listings to supply those buyers with, so it may be some time before we begin seeing any stronger than modest price growth even if the market picks up.” The overall MLS® HPI composite benchmark price was $747,900 in March 2024, up 6.4% compared to March 2023. The benchmark price for single-family homes was $914,600, up 7.5% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $620,200, up 6.8% compared to a year earlier, while the benchmark apartment price was $414,700, increasing by 8% from year-ago levels. There were 518 new residential listings in March 2024. Active residential listings numbered 983 units on the market at the end of March, a sizable gain of 19.7% from the end of March 2023. Months of inventory numbered 3.7 at the end of March 2024. Source: CADREB® Chilliwack and District Real Estate Board & FVREB® Fraser Valley Real Estate Board | Market values stated are of the benchmark of Vancouver and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home. MONTHS OF INVENTORY 3.7 ACTIVE LISTINGS 6,197

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