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Current: Chilliwack (+Yarrow, Rosedale, and Sardis) is in a Stable Market with average listing inventories, 15 %SOLD rate, and the Sale Price/List Price=96%.
(This means that there is an average of $34,900 discount on a sale from the original list price)Lesson
Most Active Range: Homes below $800,000 have 21.6 %SOLD rate.
Least Active Range: Homes between $1.2 mill.- $1.35 mill. have 5.4 %SOLD rate.
History: The Chilliwack Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $507,936
The Chilliwack Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $286,871.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Chilliwack has average Listing supply;394 homes are for sale and with the 15%SOLD monthly rate gives us a ~7 months of inventory. 12% of the Active Listings have reduced their price by $57,833 on average or $40,000 on median. We project Chilliwack Detached to be a continued Stable market.
Greater Vancouver February 2023:
The Greater Vancouver Real Estate Market shows that 57% of the Detached Homes in February is increasing in price. The average price values increased by $4,653. That's is a reversal from the -($6,340) drop in January and the 1st increase we've seen since April last year. We are forecasting that the majority of the Metro Vancouver Markets will stabilize this March. With one year of pent-up buyers we should see price increases in March.
Currently, the Condo Markets and Townhouse Markets have switched to a Seller's Market, with the Average Price increases of $5,114 and $114 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 February 2023:
In February, 56% of Fraser Valley Real Estate Detached Market prices decreased by just ($1,739) on average. That is a significant improvement from the -($14,803) drop in January. We are forecasting that the majority of the Fraser Valley Market will stabilize in late March / earlier April.
Currently, the Condo Markets and Townhouse Markets have switched to a Seller's Market, with the Average Price increases of $3,732 and $588 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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