Tuesday, January 6, 2015

Real Estate

Seven Year Itch

December sales hit high mark in Chilliwack

Released by Steve Lerigny, CADREB

 

ith home viewings taking place as late as Christmas Eve, December posted the most sales in a number of years in Chilliwack and area.

 

At a time when Real Estate transactions typically take a significant downturn due to colder weather and Christmas activities, Chilliwack and its surrounding areas posted 163 sales, outpacing December of 2013 by 55 sales and the best in seven years.

“It was a great ending to a very strong year,” said Chilliwack and District Real Estate Board (CADREB) President, Jake Siemens.

Overall residential sales for the year totaled close to 2,500 units, also trending back seven years to a robust year in 2005.

“We are seeing increased sales in all types of residential properties, from apartments and townhomes to single family homes and houses with acreage. A total of 14 homes with acreage sold last month, driving the total dollar value up over $55 million for the month.”

This points to affordability, which is a key market point for Chilliwack, added Mr. Siemens.

Of the 163 homes that sold last month, the most popular (25) were in the $400,000 - $499,999 range, followed by 21 sales in both the $225,000 - $249,000 and $250,000 - $274,999 ranges. There were 19 sales over the $500,000 mark, including three over $1 million.

In response to market demand, new home construction is ramping up – a key indicator of a renewed economy.

“We are looking forward to a great year ahead for the local Real Estate industry”.

For more information, visit www.cadreb.com See also December sales stats on the main page.

 

 

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