September 7, 2012
Real Estate News
housing sales stumble in August
Released by Steve Lerigny, CADREB
long, hot days of August may have been good for local beaches, but
not for housing sales in Chilliwack and area.
Home sales dipped last month to 124, down from last month's sales
and down significantly from the 193 sales posted in August of last
inventory, competitive prices and hints of upward pressure on
mortgage rates, anyone sitting on the fence is wise to jump into the
housing or investment market now and buy!
"As the economy strengthens, so typically does family income,"
explained Chilliwack and District Real Estate Board (CADREB)
President, Cynthia Admiraal. "This allows for better affordability,
particularly for the first-time buyer, which make up the larger
proportionate of home sales".
Add to the mix that Chilliwack and area is one of only a handful of
BC communities that is growing in student enrolment numbers, and a
stable real estate market is ensured.
While the majority of August's 124 sales (68) were single family
detached houses, there was also strong activity in the townhouse
sector (33). Townhomes are a wonderful option for young families as
they easily accommodate multiple bedrooms and bathrooms, offer
minimal or no outdoor maintenance for busy families and are often
situated in complexes away from
There are currently 1,873 active listings on the local market,
representing homes in every style ranging from under $49,999 to over
$1 million. Whatever the price, when compared to similar homes less
than an hour away in the metropolitan areas, they represent terrific
"A beautiful family home for $400,000 here would be as much as
double in many of the suburbs of Vancouver," said Ms. Admiraal.
"When you add the quality of life and sense of community that a
smaller town offers, home ownership here makes so much sense."
Copyright (c) 2012 The Valley Voice