Wednesday April 4, 2012

CADREB News

Local Sales On The Uptick 

First-time home buyers continue to float the market

Released by Steve Lerigny, CADREB

 

arch, 2012 Statistics show 214 properties sold for the month in Chilliwack and District. This is an improvement from last year's 199 sold properties.

March, 2012 Statistics show 1,674 active listings which is comparable to last year's 1,604.

The total dollar volume of Chilliwack Real Estate sold is significantly higher than last year with sales in the Month of March totaling at $64,094,178 real estate property sold in the month of March, which is $7,363,990 (million) higher than last year. Single Family Detached made up the largest part of this increase at $5,905,845 higher than the previous March. That is an interesting figure when you note that there were 108 Single Family Detached properties sold in March, 2012, and just 4 less (104) sold in March, 2011. This clearly shows higher valuations for single family detached properties in the Chilliwack region in comparison to the previous year.

On a recent conference call with Cameron Muir, Chief Economist for BCREA indicated, that the Spring market was shaping up to be better as there are some very affordable and good choices for buyers. He described the real estate market as stable, that with an increase in listings available, sellers feel more confident as the market is not fluctuating as much, but sellers still need to be sharp on price in the current market.

The CADREB MLSR Statistics for March together with Cameron Muir's statements indicate that the Chilliwack Real Estate market is growing with stable activity. As noted above, the stats show valuations for Single Family Detached is up from the previous year. This trend seems likely to continue and that makes this Spring a good time to buy Real Estate Property in the
Chilliwack region.

 

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