July real estate sales in Chilliwack second highest ever

Average sale price up 18.6 per cent year-over-year

This house for sale on Williams Street in Chilliwack listed at $479,900 as of Aug. 4 is a little over the average sale price of a home in the CADREB area in July 2017. (REALTOR.ca)

If you list it, they will buy it.

The sellers’ market in the Chilliwack and District Real Estate Board (CADREB) doesn’t seem to be going anywhere as sales continue to be strong, listings low, and prices high.

There were 355 sales in the CADREB area in July at an average sale price of $474,222. That includes single-family homes, townhouses and apartments, and is actually down slightly over June 2017.

That’s up 18.6 per cent over the average of $399,890 in July 2016. The average for July 2015 was $328,756, and for 2014 it was $319,284.

That’s a 48.5 per cent increase in price in three years.

And while the number of sales were down, it was the second hottest July on record.

“Sales this July could not reach last July’s record, but stood head and shoulders above the same month in all other years so activity remains historically very strong,” said CADREB president Greg Nord-Leth. “Combined with overall supply at a decade-low, it’s no wonder prices continue to push higher.”

Year-to-date home sales totalled 2,482 units over the first seven months of 2017. This was down 15.7 per cent from the same period last year but stood above the same period of every other year on record.

The year-to-date average price was $457,752, up 16.2 per cent from the first seven months of 2016.

One example of a property for sale around the July 2017 average is a four-bedroom, four-bathroom, 2,200-square-foot, eight-year-old townhouse in a complex near Sardis Park. It’s listed at $469,900.

Another is a one-bedroom, one-bathroom, 1,265-square-foot, 1944-built character home downtown Chilliwack listed at $479,900.

Eleven homes sold last month in Chilliwack for more than $1 million.

Demand in Chilliwack continues to be strong particularly because of much higher prices in communities with strong demand to the west.

The average price of a home sold last month in the Fraser Valley Real Estate Board area, which includes White Rock to Abbotsford, was $736,761.

The average sale price of all types of homes in Abbotsford was $547,935.

At 355, there were more sales in the CADREB area than the 290 in Abbotsford last month.

There were 956 active residential listings on the Board’s MLS system at the end of July 2017, up slightly over July 2016 but way below the long-term numbers.


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here


A townhouse in this complex on Southdowne Place in Sardis listed at $469,900 as of Aug. 8 is a little below the average sale price of a home in the CADREB area in July 2017. (REALTOR.ca)

Just Posted

Alleged impaired driver crashes car into parked truck on Chilliwack’s Wellington Avenue

Police investigated the collision which took place shortly after 2 a.m. Sunday morning

Which riding do you live in — Chilliwack or Chilliwack-Kent?

Understanding one small and condensed riding vs. one large and sprawling riding

Police seek assistance locating missing Hope teen, last seen near Agassiz

RCMP say Jada Charlie-Carlson was last seen Monday in the 61000 block of Lougheed Highway

VIDEO: Take a drone tour of art from the Chilliwack Mural Festival

A local drone pilot has created a virtual tour of projects big and small in the downtown core

Former constituency assistant for Chilliwack MLA intends to plead guilty to fraud, breach of trust

John Martin fired Desmond Devnich for allegedly misappropriating thousands from constituency office

Orange Shirt Society launches first textbook on residential school history

Phyllis Webstad and Joan Sorley worked on the 156-page book to help educate students

U.S. boater fined $1,000 for violation of Quarantine Act

49-year-old man entered Canada to visit girlfriend in Surrey

More sex abuse charges laid against B.C. man who went by ‘Doctor Ray Gaglardi’

Investigators now focussing efforts on alleged victims within the Glad Tidings Church community

B.C. VOTES 2020: Businesses now owe $6 billion in deferred tax payments

COVID-19 relief from remittance to province ends with September

Long-term care study credits fewer COVID deaths in B.C. than Ont. to funding, policy

The study was published Wednesday in the Canadian Medical Association Journal

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

NDP asks Elections BC to investigate Liberal voter fraud allegations in Surrey-Fleetwood

Campaign organizer for MLA candidate Garry Thind allegedly solicited personal information from voters to request mail-in ballots over the internet, NDP says

Most Read