Thursday, December 6, 2012

 

Real Estate

Welcome to the Boomtown

Chilliwack real estate affordable into the 2013 

Released by S. Lerigny, CADREB

 

ith Christmas approaching and 2012 soon drawing to a close, it appears the year will end on a high note for housing sales in Chilliwack and area.

After posting 166 sales in November, (compared to 129 sales in November of 2011) seasonally adjusted numbers indicate a 15% increase in unit sales, and increased sales overall when compared year-over-year.
 

A continued flat market is being credited for the slowly improving local housing market, according to Chilliwack and District Real Estate Board (CADREB) President, Cynthia Admiraal.

"Flat is not necessarily a term enjoyed by retailers, but when referring to the real estate market, it's a good thing. It means that prices and interest rates remain stable, making property purchases attractive to both home buyers and investors.

"Investors are attracted to markets that are stable and not prone to wild price fluctuations. Combined with the commuter factor, where home ownership is far more affordable than the metro areas, it paves the way for continued sales growth in the New Year," added Ms. Admiraal.

Of the 166 sales last month, the highest number (21) was in the $250,000 - $274,999 range, followed by 18 sales in the $350,000 - $399,999 range. There were 18 sales over the $500,000 mark. The value of all combined sales was almost $48 million.

At the end of November, there were 1,524 active listings on the local market, compared to 1,700 at this time last year.

If a home purchase is one of your New Year's resolutions, CADREB encourages you to get pre-qualified at your financial institution ahead of time.
 

Nothing is more disappointing than to fall in love with a property to discover that you don't qualify, and it is disappointing for the seller as well.

The CADREB executive, office staff, and the Board's 267 local REALTORSR in Chilliwack and area wishes everyone a very Merry Christmas and a happy and healthy New Year.

 

For more information, visit www.cadreb.com Connect on Twitter at @ChilliwackREB

 

 

 

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