This past April was another strong home sales month, which indicates increasing consumer confidence in the local market, according to the Chilliwack and District Real Estate Board (CADREB).
Last month’s sales surpassed even the “formidable” ones of April 2012, with a total of 193 homes sold in Chilliwack and surrounding areas. That’s 25 more “sold” signs than in March.
CADREB president Jesse Hildebrandt expects the trend to continue.
“All indicators are for continued stronger growth in the second half of the year,” he said.
Hildebrandt suspects that the currently low interest rates will remain.
“Interest rates are expected to stay low until the end of the year. With a good inventory of listings at various price points and continued low rates, if anyone is in a position to buy, I can’t see why they wouldn’t jump at the opportunity at this time,'” he said.
The average sale price of residential homes was $292,811 last month, down $11,000 from the month before and down $6,000 from April 2012.
The most common home sold was in the $300,000 to $349,999 range, with the next bracket up being the second most common. No homes sold over $1,000,000, and 20 sold at under $100,000.
Twelve non-residential properties, consisting of vacant residential land and commercial properties, sold for an average of $232,911.
A total of 472 new residential listings joined the market in April, an increase of 14 from the same month last year. There are 1,727 active listings, down from 1,815 last email@example.com twitter.com/alinakonevski