Fewer for sale signs went up in December than ever before, but homes in Hope and other eastern Fraser Valley areas sold for more than $1M on average. (THE CANADIAN PRESS/Jonathan Hayward)

Fewer for sale signs went up in December than ever before, but homes in Hope and other eastern Fraser Valley areas sold for more than $1M on average. (THE CANADIAN PRESS/Jonathan Hayward)

Average price of single-family home in Hope and area tops $1M

Though the volume of sales fell off in December, homes that did sell went for big bucks

For the first time ever, the average price of a single-family home in the Chilliwack and District Real Estate Board (CADREB) region has topped $1 million.

CADREB covers an area that includes Chilliwack, Agassiz, Hope, Boston Bar and Harrison.

Numbers released this week show that 129 single-family homes sold in December for a combined $135,139,249, averaging out to $1,047,591 per property.

That beats the previous high mark of $994,230 set in November.

In January of 2021, single-family homes were selling for an average of $762,066. The new average represents a 37.47 per cent increase over what it was 12 months ago.

RELATED: Fraser Valley Real Estate Board shatters all time sales record in 2021

RELATED: Hope property values soar as BC Assessment releases 2022 numbers

Vancouver Metro area buyers continue to provide the demand.

“Even though prices are up considerably, houses in our area are still attractive to these buyers, as it’s often the only hope for them acquiring a yard for their children and pets, and the bonus of a more relaxed lifestyle” said CADREB present Andrew Verschuur. “We are seeing strong demand in the Agassiz and Harrison areas lately. Again, with people working from home, a smaller community lifestyle, recreation at their doorstep and the chance of a larger property are very appealing.”

Forty-seven townhouses sold in December for an average price of $661,481.

That’s another record-setting figure, topping the $655,590 average set in November.

Forty-six condominiums sold in December for an average price of $401,855.

Seventy-eight of the 236 residential properties sold in December went for more than $1 million and two sold for over $2 million.


@ProgressSports
eric.welsh@hopestandard.com

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