Wednesday, August 8, 2012
Real Estate News
Home Sales Jump in July
Released by Steve Lerigny, CADREB
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.
Copyright (c) 2012 The Valley Voice