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Chilliwack - Sales Statistics for the Month of April 2008

By
Real Estate Agent

Some interesting Sales Statistics For Chilliwack - For the Month of April - 2008

AND Comparisons to the April 2007 Market

The market definitely has shifted - perhaps not as dramatically in terms of pricing - but definitely in terms of listings on the market. 

Many would say that the market has become a 'Buyer's Market'...for the first time in years.........And in some ways it has - there's certainly the inventory !

Supply and Demand truly dictates the market -not only in terms of pricing, but how long homes are on the market...the whole buying process can take longer - simple because Buyers have more to choose from and there's not the same sense of Urgency.

Some Sellers are having a hard timing adjusting to the fact that prices aren't going up at the pace they were just a few months ago......Actually in 'some' cases prices are coming down.... And for the first time in years we're seeing Listings Expire!

Often homes were selling in less then a week - and multiple offers were becoming a standard!  Now we're in the midst of a 'correction' - not necessarily a 'downturn'...Average sales could take place anywhere from 30-90 days!

Although I'm not a very statistically oriented person - I came across this stats from the Chilliwack Board and found them kind of interesting - so I thought I'd share!

 

Sales for April 2007 - 300

Sales for April 2008 - 267

 

Listings for April 2007 - 440

Listing for April 2008- 678

 

Total Listings to Date ending April 2007 - 947

Total Listings to Date ending April 2008 - 1,757

  

AVERAGE  SALE  PRICES IN  CHILLIWACK  &  DISTRICT  FOR  1ST  QUARTER 2008

Agassiz:                                            Cultus Lake:                                        Hope Kawkawa Lake:

Apartments - $100,000.00                  Houses - $669,900.00                 House -$299,133.00

Townhouses - $242,600.00                 Mobiles - $40,000.00                   Mobile - $55,000.00

Houses -        $319,795.00

Mobiles -           86,750.00

 

Chilliwack E Young:                                       East Chilliwack:                                 Hope Silver Creek:

Apartments -  $171,168.00                  Houses - $343,500.00                House - $240,000.00

Townhouses - $257,100.00

Houses -        $309,295.00

 

Chilliwack Mountain:                                       Easter Hillsides:                                Little Mountain:

Townhouses -             $300,500.00        Houses - $563,800.00               House - $455,700.00

House & Acreage -       $787,400.00

Houses -                    $407,250.00

 

Chilliwack N Yale - W:                            Fairfield Island                                   Promontory:

Apartments - $152,800.00                      Houses $352,485.00                  Townhouse - 285,627.00

Townhouses - $208,450.00                                                                    House - $451,318.00

Houses -        $319,604.00

 

Chilliwack River Valley:                           Greendale:                                         Rosedale Centre:

House & Acreages - $462,500.00              House & Acreage - $653,54500  House & Acre-485,000.00

Houses                - $362,450.00              House - $418,375.00                House - $410,000.00

 

Chilliwack W Young:                                Harrison:                                            Rosedale Popkum:

Apartments - $159,488.00                       Apartments - $335,500.00       House - $454,187.00

Townhouses - $201,690.00                      Townhouses - $279,000.00

House & Acreage - $825,000.00                Houses - $406,733.00

House - $305,462.00

Mobiles - $ 68,000.000

 

Columbia Valley:                                                 Hope Center:                                   Yarrow:

Houses - $440,000.00                             Apartments:  $144,000.00     House & Acres-$531,750.00

                                                            Townhouses - $232,500.00

Sardis East Vedder:                                Houses - $406,733.00

Apartments - $187,842.00

Townhouses - $282,447.00

House & Acre - $745,000.00

House - $406,835.00

Mobile - $107,000.00

 

Sardis West Vedder:

Apartment - $203,556.00

Townhouses - $270,589.00

House - $374,579.00

Vedder S.Promontory:

Apartment - $305,550.00 

Townhouse - $273,353.00

House - $414,998.00

 

  

RESIDENTIAL  SALES BY TYPE

Attached Town homes - $20,381,768.00 - 28%

Attached Apartments - 5,542,562.00 - 8%

Detached Homes - 47,015,450.00 - 64%

 

SOLD ATTACHED - TOWNHOMES BY AREA

Chilliwack - $ 5,727,500.00 28%

Sardis - 13,850,174.00 68%

Agassiz 804,094.00 4%

Harrison - Hope 0%

Rosedale - Yarrow - Cultus 0%

 

SOLD APARTMENTS BY AREA

Chilliwack - $ 2,929.440.00 53%

Sardis - 2,613.181.00 47%

Other - 0%

 

 

SOLD DETACHED HOMES BY AREA

Sardis - $22,240,200.00 - 47%

Chilliwack - 17,215,800.00 - 37%

Hope - 3,273,750.00 - 7%

Agassiz - 1,549,200.00 - 3%

Rosedale - 1,329,000.00 - 3%

Harrison - 1,057,500.00 - 2%

Yarrow - 350,000.00 - 1%

Cultus Lake - 0%

 

  

* Compiled by Chilliwack Real Estate Board

 

 

 

 

                                                                                                 

                                                

 If you or someone you know is thinking of buying or selling property in Abbotsford, Chilliwack, Langley or anywhere in the Fraser Valley Area of B.C. - or if you're considering a career in Real Estate or would like more information about Keller Williams please give Liz  Moras a call!  Managing Broker and Team Leader - 604-799-0459 or e-mail at lizmoras@shaw.ca    

                                                  Copyright © 2008 By Liz Moras, All Rights Reserved 

 

                               

 

Comments (2)

* Rate A Home
Rate A Home - Saugatuck, MI

Liz, buyers markets can make for more running on the Realtors end with more properties to choose from. It's still a great time to buy with rates being where they are and sellers realizing they may have to be a bit more creative on pricing. Keep plugging away at it, you have some Real Estate to move out now.

Have a great day in The Rain,

Duane

May 22, 2008 12:30 AM
Liz Moras Migic
Chilliwack, BC
Chilliwack, British Columbia - Realtor

Duane:  Thanks for commenting..:-) Definitely different - after 20 years I have been through the buyers market/sellers market cycle before.  Always requires a bit of an adjustment though doesn't it?..:-)  I like your phrase 'creative on pricing'...

May 23, 2008 03:29 AM