Thursday, December 4, 2014

Real Estate News

Hot Sales Set Historical Precedents

Single family homes lead the way to the best year for CADREB in Chilliwack

Released by Steve Lerigny, CADREB/File Photo pres. Jake Siemens

 

eading in to the Christmas season, home sales in Chilliwack and area continue to outpace last year’s by a long shot.

 

With 2015 within sight, the Chilliwack and District Real Estate Board (CADREB) so far has recorded one of its best years in recent history.

 

“Sales are still trending up locally,” confirmed Jake Siemens, President of CADREB.

“Single family detached housing sales continue to rise, indicating strengthening economic indicators as buyers feel more comfortable in committing to a larger investment”.

 

A noticeable increase in recent months has been the purchase of entry level homes. With mortgage rates so low and competitive pricing in the Upper Fraser Valley, buyers aren’t afraid to factor in improvements and upgrades to make a home uniquely theirs.

 

A total of 169 homes sold in November with a collective dollar value of just over $51 million, up 21% in dollar value from November of 2013. Single family home sales were strong, making up 108 of the total sales.

 

The strongest sellers (26) were homes priced in the $300,000 - $349,999 range, followed by 20 sales in the $350,000 - $399,999 range. There were 19 sales over the $500,000 mark.

 

At 1,432 current listings, inventory is down considerably from this time last year. If you want to take advantage of the buoyant market and low interest rates, it’s a great time to get your home listed for the New Year! Contact any of the 270 qualified and experienced REALTORS® with the local Board for a no-obligation assessment.

 

CADREB wishes everyone in Chilliwack and area the best of the holiday season, and thanks the many residents and organizations who donated to its annual Blanket Drive. More than 300 bags of blankets and warm clothes were donated, just in time for the recent cold snap. CADREB also enjoys hosting the annual Christmas Lights Tour, a time-honoured holiday tradition.

 

For more information about Chilliwack and District Real Estate Board, visit www.cadreb.com

 

 

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