Chilliwack Real Estate Sales Hot in July

Words by
REW Editor
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July weather was cool, but sales were hot in Chilliwack residential real estate -- hotter than they've been since 2009.

Paul J. Henderson, Chilliwack Times

After months of flat sales and cautiously optimistic comments from Chilliwack real estate professionals, July proved to be surprisingly robust.

Home sales in the local market were up 25 per cent last month over July 2011, from 179 sales to 223.

"Resale housing demand came in much stronger than expected in July," said Cynthia Admiraal, president of the Chilliwack & District Real Estate Board (CADREB). "In fact, when you adjust the data to account for normal seasonal variations, July was actually the strongest month for home sales in the region since late 2009."

The average home price last month was $312,418, up one per cent from July 2011.

There were 123 single-family homes sold last month, 57 townhouses, 18 apartments, 14 mobile homes and 11 houses with acreage.

The value of home sales last month was $69.7 million, up 26 per cent over July 2011's $55.1 million.

Total residential listings sat at 1,852 at the end of July, down three per cent from July 2011.

July has seen some wild sales fluctuations in recent years with 144 residential sales worth $44.1 million in 2010, 255 sales worth $77 million in 2009, and 180 sales worth $54.3 million in 2008.

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Copyright (c) Chilliwack Times


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