Tuesday, May 6, 2014
Real Estate News
listings lead strong April sales
Released by Steve Lerigny,CADREB/Photo Pres.
level priced homes made a strong showing in April home sales, boosting sales
to 240 for the month, up significantly since last month and almost 50 more
than the same month last year.
Continued stable, low interest rates and
signs of job growth helped to solidify important economic indicators and
boost consumer confidence, according to the Chilliwack and District Real
Estate Board (CADREB) President, Jake Siemens.
"In general, the province is showing some
noticeable signs leading to economic recovery. The commercial market is
steady, which should lead to stronger job growth, and will be reflected in a
stronger residential real estate market. We expect our current trend to
continue over the next few months".
New listings are coming onto the local market, but they are getting quickly
absorbed by those looking to buy their first home or investment properties.
Sales were especially brisk in the single family detached category, posting
131 sales out of the 240 homes sold in April.
The highest number of homes sold (31) were in the $300,000 - $349,999 range,
followed by 29 in the $350,000 - $399,999 range and 28 in the $400,000 -
$499,999 category. There were 10 homes over $500,000 sold last month.
"The sales to listing ratio is at 15%," said Mr. Siemens. "That indicates a
balanced market, and if interest rates remain stable over the next few
months, we are looking at a very positive real estate market locally for the
remainder of the year".
At the end of April, there were 1,643 active listings on the Chilliwack and
area real estate market. Despite sales being considerably higher than the
same time last year, there were 1,727 listings on the market in April 2013.
If you are considering listing your home, be sure to contact any of CADREB's
262 experienced local REALTORS(r) for a no-obligation assessment and advice.
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