Friday, August 17, 2012

OPEN HOUSE 10481 Glasgow Street, Chilliwack



This is a new listing of an extensively updated bi-level house on a quiet cul-de-sac of Fairfield Island, Chilliwack, B.C.  The asking price is $353,900 - if you have time of Sunday, August 19, 2012 come out and have a look at my Open House.


Stephen Mullock RI is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.

Wednesday, August 8, 2012

Chilliwack* Real Estate Market Conditions and Sales Analysis - July 2012

Chilliwack* SINGLE FAMILY HOMES - for July 2012

The July sales of single family detached houses in the Chilliwack* area rebounded after a disappointing June; up to 148 from 123 in the previous month.  Better weather and the tail end of the 30 year amortization programs can be partly credited for this turn around. 


New Listing - 10481 Glasgow Street, Chilliwack (Click for more details)


Average sale prices improved from $341,000 to $359,000 a surge explained by an unusual number of properties selling near or above the million dollars mark. Sales of this size, given a relatively small sample size (148), can often skew the average sale values.  My experience and conversations with other Realtors suggests that most home prices remain flat.  This notion is supported by A Median Sale Price of $344,000 in July, up from $343,500 in June and a stable Median listing price.

All in all, July was the best month we have seen this year reflecting a strength that would be 88% of a 10-year July average.

It remains a buyer's market with a 7-8 month supply of housing on the Chilliwack* single family detached housing market.

Please remember to use the services of a REIBC real estate professional or a Realtor© to maximize your chances for a successful sale. Give me a call if you are looking for professional service in the Chilliwack, Agassiz, Kent or Harrison Hot Springs areas.




Sales
Average Sale Price Days on Market Active Listings
July 2012 148 $359,000 72 1093
June 2012 123 $341,000 76 1125
July 2011 126 $350,000 81 n/a






Median SALE Price of Chilliwack* Single Family Detached Homes (SFD)



  • July 2012 - $344,000
  • June 2012 - $343,500
  • May 2012 - $328,500
  • April 2012 - $327,500
  • March 2012 - $340,500
  • February 2012 - $332,500


Median LISTING Price of active (1093) Chilliwack* Single Family Detached Real Estate Homes :



  • August 8, 2012 - $369,900
  • July 1, 2012 - $369,900
  • June 1, 2012 - $374,900
  • May 1, 2012 - $368,500
  • April 2, 2012 - $365,000
  • March 2, 2012 - $369,900


2012 - 2011 Market Strength

Single Family House Monthly Unit Sales as % of a 10-Year Monthly Sales Average

Month Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec
2012 81% 67% 77% 77% 83% 70% 88%
2011 85% 91% 75% 70% 68% 93% 74% 86% 86% 70% 86% 92%


Chilliwack* STRATA HOMES for July 2012




The July sales of Chilliwack* strata homes (apartments, townhouses) had a strong month result (74 sales) following a decent month in June (67 sales).   Market strength in the sale of strata homes has been stronger the past three months when compared to the same period a year ago.  This July numbers were very close to the July 10-year sale average for strata homes at 97%.  Nice.

There is still a buyer's market for strata homes in general with over 7 months of supply.


MONTH Sales Average Sale Price Days on Market Active Listings
July 2012 74 $219,000 81 571
June 2012 67 $215,000 83 610
June 2011 65 $232,000 52 n/a

Median Sale Price of Chilliwack* Strata Homes:
  • July 2012 - $219,000
  • June 2012 - $224,500
  • May 2012 - $230,000
  • April - $230,500
  • March - $210,500
  • February - $204,000

Median Price of Active Chilliwack* Strata Real Estate Listings:
  • August 8, 2012 - $209,900
  • July 1, 2012 - $214,900
  • June 1, 2012 - $220,000
  • May 1, 2012 - $220,000
  • April 2, 2012 - $218,900
  • March 2, 2012 - $216,000


2012 - 2011 Strata Market Strength

Strata Home Monthly Unit Sales as % of a 10-Year Monthly Sales Average

Month Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec
2012 93% 78% 96% 70% 87% 85% 97%
2011 100% 105% 85% 86% 84% 66% 66% 91%


 Notes:This review and analysis looks at the residential markets in the Chilliwack* British Columbia area for the month of July 2011. It is divided into two sections: single family houses and strata homes (apartments and townhouses) and is based upon my armchair analysis work. Use it at your own discretion and risk.

The analysis above is based on my interpretation of information provided by the Chilliwack and District Real Estate Board and does not take into account private sales.

*The term "Chilliwack" is used here quite loosely to refer to an area serviced by the Chilliwack and District Real Estate Board which includes communities such as Chilliwack, Agassiz, Harrison Hot Springs, Hope, Yale and Boston Bar.


Stephen Mullock RI is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.