Wednesday, August 8, 2012

 

Real Estate News

Home Sales Jump in July

Average price $314k

Released by Steve Lerigny, CADREB

 

he number of homes sold via the MLSR System of the Chilliwack and District Real Estate Board rose sharply in July 2012.

 

Home sales totalled 223 units in July, up 25 per cent from levels recorded in July 2011. The total number of properties sold in July was 239, also up 25 per cent on a year-over-year basis.

"Resale housing demand came in much stronger than expected in July," said Cynthia Admiraal, President of the Chilliwack & District Real Estate Board. "In fact, when you adjust the data to account for normal seasonal variations, July was actually the strongest month for home sales in the region since late 2009."

The average price of homes sold in July 2012 was $312,418. This was up one per cent from July 2011.

New residential listings numbered 409 units in July, down six per cent from a year earlier. There were 1,852 active residential listings on the Board's MLSR System at the end of July, down three per cent from July 2011.

There were 8.3 months of inventory at the end of July 2012, down from 10.6 months reported at the same time last year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The combined dollar value of home sales in July 2012 totaled $69.7 million, up 26 per cent from the dollar volume reported in July 2011. The total value of all properties sold in July was $74.1 million, up 21 per cent on a year-over-year basis.

The Chilliwack and District Real Estate Board is an association of 283 REALTORSR that provides services to and sets standards for members. The Chilliwack and District Real Estate Board serves Chilliwack, Agassiz, Hope, Boston Bar and Harrison.
 

 

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