Chilliwack has 23.9 months of residential housing inventory with 1767 active listings and only 74 recorded sales in November. Here is the news release from the Chilliwack and District Real Estate Board.
Total MLS® sales activity decreased this November in the area served by the Chilliwack and District Real Estate Board, according to statistics released by the Board. The Board's MLS® system recorded $21,518,491 worth of sales this November. That's a 39 per cent decrease from the total posted this past October, and a 67 per cent drop from the total in November 2007. A total of 76 properties traded hands through the Board's MLS® system in November 2008, which is 38 per cent lower than the total from October and 64 per cent less than in November 2007.
The total value of home sales recorded through the Chilliwack and District Real Estate Board's MLS® system this November was $20,834,491 – which is 31 per cent lower than the total from October 2008, and 65 per cent below the amount posted in November 2007.
The average price of homes sold through the Board's MLS® system this November was $281,547, which is six per cent less than the average from October 2008 and eight per cent lower than the average from November 2007. It is also 17% lower than March 2008.
The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available in the area.
A total of 318 new residential listings were added to the Board's MLS® system this November, an eight per cent decrease from October 2008. As the month came to an end, there were 1,767 active residential listings on the Board's MLS® system.
The Chilliwack and District Real Estate Board is an association of 283 REALTORS® that provides services to and sets standards for members. The Chilliwack and District Real Estate Board serves Chilliwack, Agassiz, Hope, Boston Bar and Harrison.
Additionally, there is no shortage of new homes in the area: