Keep in mind that the news is just news. Most of the time the news is not about all of the other places in Canada...but mostly Vancouver and Toronto. Chilliwack Real Estate is chugging along because it is a very attractive place to live and we have all of the infrastructure that make people want to live here. We are now a University Town and lots of businesses are relocating to Chilliwack. Just recently Molson Canadian Breweries announced that they are setting a "state of the art" facility on a 36 acre site in Chilliwack. Why? Because Chilliwack is awesome and only becoming "awesomer" as time goes by.
See Article with facts from our Real Estate Board:
Questions over Vancouver real estate as Chilliwack chugs along
The first half of August saw a slowdown from the hot real estate market in Chilliwack, but numbers are still up over the same period in 2015.
- posted Sep 7, 2016 at 10:00 PM
As experts disagree on exactly what is happening to the real estate market in Metro Vancouver with sales plummeting 26 per cent in August year over year as prices rise, in Chilliwack it is red-hot business as usual.Sales last month in the Chilliwack and District Real Estate Board (CADREB) represented a normal seasonal slowdown, but were still substantial for any August.There were 380 sales worth $150.8 million last month up from 291 worth $98 million in August 2015.That's a sales increase of 31 per cent and a dollar value increase of 54 per cent. The difference in those numbers representing, in part, ever-rising prices.Sales in August dipped only slightly from the 387 sales worth $154.8 million in July.Single family homes continue to dominate the market locally with 207 sales last month out of the 380 total.Just 49 apartments sold and 95 townhouses, but experts say that as prices rise making single family homes more unaffordable, the multiple market will see increased attention by developers.Currently apartments make up just nine per cent of residential housing starts in Chilliwack.Of the homes sold last month, 96 were in the $400,000 to $499,999 category.The average price for sales over the first half of August was $410,471 up 22 per cent from $335,686 for the same dates in 2015.
