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Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Seller market with average listing inventories, 23 %SOLD rate, and the Sale Price/List Price=100%.
(This means that there is an average of $29,900 discount on a sale from the original list price)Lesson
Most Active Range: Homes below $800,000 have 31.3 %SOLD rate.
Least Active Range: Homes between $1.075 mill. - $1.2 mill. have 10.2 %SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $259,284.
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $167,161.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Chilliwack has average Listing supply; 629 homes are for sale and with the 23 %SOLD monthly rate gives us a ~4 months of inventory. 23% of the Active Listings have reduced their price by $68,186 on average or $50,000 on median. We project Chilliwack Detached to be a continued Seller market.
Greater Vancouver June 2022:
June's Real Estate Statistics in Vancouver's Detached Markets continue to decline with 95% of the homes dropping in value. The monthly average price fell ($38,684) while in the Fraser Valley prices dropped ($42,274) on average. Due to the potential interest rates increases and economic woes, we are forecasting that the majority of the Metro Vancouver Markets will continue to be in a Buyer’s Market for the next coming months.
Currently, Both the Condo Markets and Townhouse Markets are in a Buyer's Market, with Average Price decrease of ($8,369) and ($16,388) respectively. We analyze and provide 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.
Fraser Valley June 2022:
100% of the Fraser Valley's Detached Market monthly prices decreased in June by ($42,274) on average. This is the biggest JUNE drop we have seen on Record which is caused by an almost 50% drop in sales. Due to the potential increase on mortgage and interest rates for the 3rd quarter this year and the continued consumer behavior on the economic difficulties, we are forecasting that the majority of the Fraser Valley's Markets will continue to be in a Buyer’s Market for the next coming months.
Currently, Both the Condo Markets and Townhouse Markets are in a Buyer's Market, with an Average Price decrease of ($8,369) and ($16,388) respectively. We analyze and provide 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.
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