Home sales in June 2020 in the Chilliwack and District Real Estate Board were high with 345 sales at an average selling price of $560,328. (Paul Henderson/ Chilliwack Progress file)

Home sales in June 2020 in the Chilliwack and District Real Estate Board were high with 345 sales at an average selling price of $560,328. (Paul Henderson/ Chilliwack Progress file)

Chilliwack real estate price gains led the province for much of 2020

Benchmark price of $567,900 for single-family home in November was example cited in Better Dwelling

Chilliwack led the entire province in terms of real estate price gains for much of 2020, according to Canadian Real Estate Association data and Better Dwelling.

The headline on a housing story about annual price gains described the Chilliwack region as the ‘best performing’ of all B.C. markets over the past year.

The benchmark price of $567,900 for a single-family home in November was cited as “a whopping 1.40 per cent” over the month before. That 12-month percentage change represents an increase of 9.89 per cent from the same month the year before.

So that growth of 9.89 per cent surpassed that of Vancouver (5.78), Victoria (4.83), as well as regions like the Okanagan Valley (7.9) and the Lower Mainland (6.29). That 12-month increase is the biggest in the province, representing almost two-thirds of the three-year price gains, among significant real estate markets.

Prices are now 14.63 per cent higher than they were three years ago, according to Better Dwelling article of Dec. 23, 2020. Despite strong monthly gains however, the province’s top markets were generally under performing compared to the the rest of Canada.

READ MORE: Price gains in FV lagged in 2016

READ MORE: Values had been predicted to decrease for 2020

Do you have something to add to this story, or something else we should report on? Email:
jfeinberg@theprogress.com


@CHWKjourno
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