This is HappyhomesBC with our monthly market report for sales activity in the Chilliwack and District area for the month of May 2009.
We are excited to spread the news that the market is moving!! Sold Stickers are everywhere!! People are selling their homes and people are buying homes. Wow. As a fast paced Real Estate Team we have prepared for this and we are revved up for June which has already proving to be even a better month than May. More on that next month.
For single family detached homes we saw them selling within less than 70 days on the market. Sales increased from May 2008 by 9% and the number of listings that were processed though the Chilliwack and District Real Estate Board were 37% less than last year. Inventory and demand is starting to even out which is good news for Sellers. Buyers there is still time to capitalize especially with the fantastic mortgage rates. However, the best time to buy is right now without a doubt. Priced have stabilized and interest rates took a small jump up over the last couple of weeks so if you are on the fence. Get off that fence and get in the game because your window of opportunity is beginning to close. This is exactly what you were waiting for. Time to stop waiting.
Our total inventory of listings dropped and the sales increased in the month of May from the month of April by 35%!!!
Another thing that I noticed was that Sales in the price points of $300,000 to $349,000 doubled from the month before and sales in the $400,000 to $500,000 more than tripled. There were also 3 sales over $900,000.
Things are heating up in the Chilliwack Real Estate market and we are loving it....
To learn more about how you can benefit in todays real estate market go to our website and contact us from there at www.happyhomesBC.ca.
Talk to you next month.
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