Chilliwack and District Market Statistics



Q1 2010:: Market Report


This HappyHomesBC bringing you the Real Estate Market Report for the first quarter of 2010. The data that we are relying on is from the Chilliwack and district Real Estate board. We take those stats and then put together a comprehensive Real Estate Market Report for you that is hopefully somewhat understandable and will help you understand the dynamics of our exciting Chilliwack Real Estate Market here in the Fraser Valley.

We have now entered into a new decade and with it we have seen a new enthusiasm in the Real Estate Market for our Chilliwack Real Estate area. The amount of homes that were on the market at the beginning of the year was just over 1100 compared to over 1300 in January of 2009. The good news was that sales increased by 72% compared to January 2009 with the most sales occurring in the $400,000 to $500,000 price range. The next two months the hottest price point ranged from $275,000 to $500,000 dispersed quite equally. Over 50% of the total sales are occurring in that price range. If you have a home that will fit into that price point we would love to discuss our marketing strategies with you.

We have experienced 34 sales over $500,000 so far this year to March of 2010 and that doesn’t sound like much but that is a major increase in positive activity for that segment of the Chilliwack Real Estate Market. 6 of those sales were over $700,000.

Another great difference that we are experiencing is that the homes that single family homes averaged just over 80 days coming into January which is somewhat expected as we go through the Christmas season but then consistently the next two months we averaged just over 50 days on the market to sell.

And add in the fact that we had an amazing event occur just an hour away from us – the Olympics ! - which diverted buyers attention a bit. To keep sales occurring within the 2 month time frame is fantastic....then After the Olympics finished up, it was back to business and the market turned on again.

That should be every sellers expectation.....Sell within 2 months!! If you have not sold in the last 2 months then you need to re-visit your listing price because we know the market is active. We know sales are occurring at a good rate. There is a good inventory on the market to give buyers a good choice but sales are occurring within 60 days. The only thing left is price. Take a good look at and call your REALTOR.

The interest rates took a substantial jump over the last couple of weeks and we believe that there is another jump coming...It is important to get pre-approved to lock-in your rate. Give us a call and we can get that taken care of for you as well.

Timing is everything and it is a great time to make a move or get into the market....Whatever your strategy is.....don’t ponder on it too long. It is time to take action and we are right here waiting for you. We know that the prices have stabilized and are on the move upwards....we know that interest rates have hit their bottom and are on the rise.....When is a better time? We look forward to providing our next market report to you in June of this year. In the meantime feel free to call us or email us to get more detailed market information.


Q4 2009:: Market Report
The comments herein are our opinions that we have ascertained from data taken from the monthly statistic sheets that we obtain from the Chilliwack and District Real Estate Board (CADREB). We have not asked CADREB to endorse these comments. These observations are from our point of view and our point of view only.

We began this report on a monthly basis and found that we were speaking about the same trend every month. The news was loud and clear – “things are improving and the market is moving in Chilliwack BC”. Well that sounds a bit repetitive after a while. So we thought that we would sum up the year for you.....” things are improving and the market is moving in Chilliwack BC”.

Our last market report was from August 2009. Some of you may remember the trend of the market at this time last year. September is when it all started. There were 316 REALTOR®’s registered with our Board doing just over 150 deals in September; 101 deals in October; and then 74 deals in November and if I remember correctly there was just over 60 in December. We would refer to that as a downward trend. OOOOOOh a shiver just went through my body remembering that.

We now have just over 280 REALTOR®’s in our CADREB averaging over 200 residential sales per month over the last 3 months. At the end of November the total residential inventory is over 33% less than this time last year. From September to the end of November we had over 36 sales occur over $500,000!!! That is a really good trend to see happening in Chilliwack. Our average “days on the market” is hovering in the 60 to 70 day mark over the last 3 months which is very good. The hottest price point over the last 3 months was $300,000 to $349,900. A home priced in that zone should sell within 45 to 60 days at the very most. If you are thinking about selling your home and you think that it may fit into that price point we will be excited to help you put that on the market and we will discount our commission by 1% in order to create a mutual benefit for you and our team. Call us for a unique competitive market analysis of your home. We will be happy to meet with you and strategize on helping you obtain the very best result that we can.

One other interesting statistic is that the category of “house and acreages” in the months of September and October were taking an average of over 100 days on the market to sell. In the month of November they were selling within 50 days!!! That is really exciting.

We are excited to be able to deliver these reports to you in our newsletters that come to you periodically but if you would like to be on our “Market Report” email list please let us know and we will make sure that are kept informed. This service is FREE of Charge and we are happy to provide that to you.

In conclusion, we at happyhomesBC would like to take this opportunity to wish you a very Merry Christmas and all the success that you deserve for 2010. We are here for you when you need us...

AUGUST 2009:: Market Report


This is your happy home specialists bringing you the Real Estate Market Report that has been compiled from data that is distributed from the Chilliwack and District Real Estate Board.

Another strong month is behind us and all indicators are that the market is now on the move and people are taking advantage of fantastic interest rates and low prices. We are definitely witnessing signs of an upward movement in sales prices. Buyers seem to be responding with more confidence which is driving sales in an upward direction.

Over 52% of the residential sales that occurred in the month of August were in the price point of $275,000 to $500,000!! This is up from last month which saw the largest amount of residential sales between $225,000 to $400,000. Sales in the price point of $400,000 to $500,000 increased by over 30% from the month of July. This is what we have been waiting for...

Average days to sell dropped to an average of 64 days down from 72 last month so that tells us that the market is responding. We hear it loud and clear. Total residential sales increased in dollar volume by 19% and the amount of inventory on the market is down 36% from the year prior. That is the trend that we have been experiencing this year and it is continuing which is really good news.

We are looking forward to an excellent Fall. The media seems positive but they don't seem to understand how good it is here in Chilliwack. Well to us it is big news and we are excited to help families get into the best homes for the best price in todays market. Call us anytime if you would like more specific market information.

JULY 2009:: Market Report


Chilliwack and District Real Estate Board Statistics for July 2009 as interpreted by HappyhomesBC

Chilliwack had a major heat wave reaching temperatures over 35 degrees !!! But there was another heat wave and that was the Real Estate Market. Hot hot Hot!!!! We are feeling the heat and we are fired up about it.

The total value of residential sales increased almost 42% compared to last year and the amount of units that sold also increased by the same basic number which means that prices have stabilized and there is a major increase in market activity. Total inventory in the Chilliwack and District Real Estate board decreased from 2008 by almost 30%. There are less than 50% of the townhomes on the market today than there were last year....

The number of days on the market for residential homes is in the 70 to 85 day range which is a little bit longer than last month. That tells us that the really good deals that injected the market a few months ago have been snapped up and now people are pricing realistically but have just taken a little longer to react. The second layer of homes are now selling which is good - good - good news for everybody.

60% of all the sales that took place were in the price ranges of $225,000 to $400,000. That is the hottest price point. If you are priced in that area then you should be getting a lot of action on your home. This is really balanced market right at this point. This is a good time to sell and more importantly - This is a great time to buy right now. Did I mention that this is a great time to buy??? If I forgot to mention before - THIS IS A GREAT TIME TO BUY!!!! The market is now in the incubation stages and we will be experiencing some market changes that will begin the next wave in a short period of time.

This is what you have been waiting for....Right now is it. This is HappyhomesBC signing off with your monthly market report for July 2009. Have a good summer.

JUNE 2009:: Market Report


Market Report for June 2009 from the Chilliwack District Real Estate Board statistics. This is HappyHomesBC with the monthly market report taken from the Chilliwack and District Real Estate board for the month of June 2009.

Well summer is here and the temperature is heating up but so is the Chilliwack Real Estate Market. Personally we have increased our sales in our office over 30% over the last 60 days but the stats across the Chilliwack and District Real Estate Board remain active and are rising slightly.

The number of days that homes are listed on the market before selling is hovering around the 70 day mark and that was consistent with the month earlier. I think we will see that number decrease over the next couple of months. If you have listed your home this year and have not received an offer within 70 days of listing then there are 3 things that you need to consider – 1) either nobody knows about your property or 2) you are over-priced and need to think about adjusting your price or 3) you are priced in the upper echelon price point over $700,000.

For Single Family and attached town-homes we saw a slight increase in those target areas of about 10% from the year before. Total sales value was consistent with last year so prices have stabilized. The biggest jump in sales occurred from $225,000 to $275,000. About a 28% increase in homes sold compared to the month of May. Who are those buyers? Investors and First time buyers. Welcome back you guys. Good to see you again. Interest rates were too good and you just had to get off the fence didn’t you. We are happy to see you back in the game.

Once gain for the second month in a row, - the most amount of sales were in the $300,000 to $350,000 bracket. OK now, I repeat from last month. If you have a home priced in that category and it hasn’t sold over the last 30 to 60 days then chances are you are over - priced for what you have and you are just helping other people sell their homes. We encourage you to consult with your REALTOR today to analyze where you are at. We are looking forward to helping people get into homes over the summer and we are here to serve you. google Chilliwack Real Estate and you can find us on the internet or just type in HappyHomesBC.ca and you can learn a lot about how we can help you. Have a great July

MAY 2009:: Market Report


This is HappyhomesBC with our monthly market report for sales activity in the Chilliwack and District area for the month of May 2009.

We are excited to spread the news that the market is moving!! Sold Stickers are everywhere!! People are selling their homes and people are buying homes. Wow. As a fast paced Real Estate Team we have prepared for this and we are revved up for June which has already proving to be even a better month than May. More on that next month.

For single family detached homes we saw them selling within less than 70 days on the market. Sales increased from May 2008 by 9% and the number of listings that were processed though the Chilliwack and District Real Estate Board were 37% less than last year. Inventory and demand is starting to even out which is good news for Sellers. Buyers there is still time to capitalize especially with the fantastic mortgage rates. However, the best time to buy is right now without a doubt. Priced have stabilized and interest rates took a small jump up over the last couple of weeks so if you are on the fence. Get off that fence and get in the game because your window of opportunity is beginning to close. This is exactly what you were waiting for. Time to stop waiting.

Our total inventory of listings dropped and the sales increased in the month of May from the month of April by 35%!!!

Another thing that I noticed was that Sales in the price points of $300,000 to $349,000 doubled from the month before and sales in the $400,000 to $500,000 more than tripled. There were also 3 sales over $900,000.

Things are heating up in the Chilliwack Real Estate market and we are loving it….

To learn more about how you can benefit in todays real estate market go to our website and contact us from there at www.happyhomesBC.ca.

Talk to you next month.


APRIL 2009:: Market Report


This is HappyHomesBC with a Real Estate Market Report for Market Activity in the Chilliwack and District Real Estate Market in the month of April. We have just received the data from the Chilliwack and District Real Estate board and we have taken the time to assimilate the information and give you a comprehensive report that will help you properly understand the Real Estate Market Activity in the Chilliwack area.

The amount of sales has increased incrementally from the month of March. The amount of the listings left is exactly the same for residential properties so as I said last month – the gap is closing. Interest rates have come down dramatically where qualified buyers can have the opportunity to get a 5 year locked in rate of 3.69% when they buy a home today. We expect market activity to increase as a result. Prices have stabilized and we are noticing that homes that are priced effectively are getting the attention. Pricing your home effectively is absolutely crucial at this moment of time. Buyers are out there and they are armed with a lot of information and they know when a home is priced well and when they find it they are pulling the trigger. Last year we had 1757 listings left in the month of April 2008 and this year we were left with 1475 listings a 16% drop. More activity and less listings to choose from is good for the market. The sales of townhomes almost doubled from the previous month once again re-enforcing the fact that there is a bottom push from the lower end with entry level buyers entering the marketplace. This is exciting because we will be experiencing the pressure of that push soon into the higher price points.

The average days to sell increased this month which tells us something. That maybe the cause for that would be that people who had their homes on the market over 75 days adjusted their prices and subsequently received offers. That is good news because people are now adjusting mentally to todays market conditions. We are reaching a point where business is active and buyers and seller s are coming to a meeting of the minds so to speak making it a great time to buy and sell a home. Prices are down over 15% from 18 months ago and interest rates are down over a full percentage point for fixed 5 year rates!! The Affordability factor is back in the game. Another testament to that fact is that the amount of sales over $400,000 dropped in half but sales between $350,000 to $400,000 increased by 58%!!

Give us a call anytime to learn more insights into the Chilliwack and District Real Estate Market. Check out our website for more information at www.happyhomesbc.ca to see video tours and our most recent market report. This is HappyhomesBC signing off with your Real Estate Market Report for sales activity for April 2009. All the best to you and yours.

MARCH 2009:: Market Report



The Real Estate Market in the Chilliwack and District Real Estate Board is starting to approach normal levels. We are increasing the amount of sales and the amount of listings is not increasing. We have seen quite a few multiple offer situations lately which means that Buyers confidence is growing and they are recognizing good deals. Sense of urgency is growing and we are getting a lot more calls for showings. Sales are still less than this time last year but we are witnessing the rise as we speak. The gap is closing. Residential sales increased by almost 40% from February 2009. New listings are down from a year ago so inventory is starting to stablize. the highest amount of sales are in the price ranges of $200,000 to $400,000. The average days that a house in on the market for the sales reported is between 45 and 60 days. Last month our averages for the sales reported was between 75 and 150 days. That is a marked improvement and I believe that is the most significant statistic.



FEBRUARY 2009:: Market Report

 We are a city with a population of approximately 85,000 people and we are located within 1.5 hours from the City center of Vancouver, BC. We are fantastic community with lakes and mountains and fishing rivers all around us. We have all of the amenities that you need and we are soon to be a University town. We have a WHL hockey team called the Chilliwack Bruins. In the month of January 2009 we totalled 71 total residential sale down 45% from the previous year and about 50% of the total dollar volume. However we saw a slight upturn for the month of February because it seemed that everyone was waiting for the announcment of the Obama administration to happen at the end of January before doing anything. In February our residential sales rose to 125 which is about 43% lower than the previous year and again about 50% of the dollar volume. Already we are experiencing more activity in March and I think that we will see another upturn and get closer to the numbers. The phone is ringing and the attitude of the Buyer is transforming a little to more of a sense of urgency. We actually had a multiple offer situation the other day on one of our listings and got our client $3200 over list price! So that is exciting.

*Monthly statistics are downloaded from CADREB. While this information is deemed to be correct, it is not guaranteed. Video Summary in hi-def is coming soon!