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Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Stable Market with average listing inventories, 11 %SOLD rate, and the Sale Price/List Price=97%.
(This means that there is an average of $9,900 decrease on a sale from the original list price)Lesson
Most Active Range: Homes below $800,000 have 18.3 %SOLD rate.
Least Active Range: Homes above $1.6 mill have 2.1 %SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $156,808.
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $54,095.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Chilliwack has average Listing supply;556 homes are for sale and with the 11 %SOLD monthly rate gives us a ~9 months of inventory. 24% of the Active Listings have reduced their price by $48,418 on average or $38,488 on median. We project Chilliwack Detached to be a continued Stable market.
Greater Vancouver August 2023:
In Greater Vancouver, the average prices of single-family detached homes took a dramatic turn in August, dropping by $8,319, a sharp contrast to the previous month's $2,661 increase. This marks the first decline since January. Our analysis suggests a shift toward a more stable real estate market. In this changing landscape with low inventory and the highest interest rates in 21 years, staying informed is crucial for buyers, sellers, and investors. Explore detailed reports for specific cities in Greater Vancouver through the city menu for a deeper understanding.
Currently, both the condominium and townhouse markets are in a state of stability. Condos have seen their average prices decrease by $3,572, while townhouses have faced a drop of $5,795.
Every Saturday at noon, we analyze 97 different city House Price Indices and present the most accurate market trends to you at VancouverMarketReports.com. Please get in touch with us if you'd like a market value update that includes a thorough analysis and forecast for your neighborhood and local market area. - Your Neighborhood.
Fraser Valley August 2023:
In the Fraser Valley, the average prices of single-family detached homes took a significant turn in August, dropping by $9,319, a sharp contrast to the previous month's modest $318 increase. This marks the first decline since February. Our analysis suggests a shift toward a more stable real estate market. In this changing landscape, with low inventory and rising interest rates, staying informed is crucial for buyers, sellers, and industry participants. Explore detailed reports for specific cities in Greater Vancouver through the city menu for a deeper understanding.
Currently, both the condominium and townhouse markets are in a state of stability. Condos have seen their average prices decrease by only $68, while townhouses have faced a drop of $2,071.
Every Saturday at noon, we analyze 97 different cities' House Price Indices and present the MOST ACCURATE Market Trends to you at VancouverMarketReports.com. Please get in touch with us if you'd like a market value update that includes a thorough analysis and forecast for your neighborhood and local market area. - Your Neighborhood.
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