Thursday, December 6, 2012
Welcome to the Boomtown
Chilliwack real estate affordable
into the 2013
Released by S. Lerigny, CADREB
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
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
Copyright (c) 2012 The Valley Voice