Friday, Oct. 3, 2014

Real Estate News

September Sales Set Five-Year High

CADREB figures show local real estate market a hot item

Released by Steve Lerigny, CADREB/Photo Pres. Jake Siemens

 

nother strong month of home sales in Chilliwack and area helped confirm that to date, this year has posted the highest number of sales in five years.

With consumer spending now in strong recovery, the Chilliwack and District Real Estate Board (CADREB) reported 211 home sales in September, following two robust previous months.

“Sales volume is up by 14 percent,” said CADREB President Jake Siemens. “The Summer market was the strongest in years, and with the continued low interest rates and stable pricing in our area, we are expecting that trend to carry into the Fall season as well”.

Representing 124 of the total 211 September sales, detached single family homes are attracting both local residents and commuters. The highest number of homes sold (40) were in the $300,000-$349,999 range, followed by 27 sales ranging from $350,000-$399,999 and also 27 in the $275,000-$299,999 price range.

Combined sales of all housing units – single detached, townhouses, condo/apartments, mobile homes and houses with acreage – totaled $67.1 million.

“This represents a significant injection of money into the local economy,” said Mr. Siemens. “Not only in the real estate industry itself, but in all the associated services and goods needed for home ownership”.

Some 381 new listings joined the market last month, for a total of 1660 active listings. There is always room for more to allow a broad range of homes at various price points.

If you want to be in a new home for Christmas, whether it is your very first home or a move-up, now is the perfect time! Contact any of the 268 qualified and experienced REALTORs of CADREB to make it happen.

See September market stats on the left side of the Voice's main page. For more information, visit www.cadreb.com

 

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