Red hot 2016 for Chilliwack real estate should continue

All-time highs for sales mixed with all-time lows for active listings equals high prices

Last year was a record year for real estate sales in Chilliwack and realtors expect much the same in 2017.

Last year was a record year for real estate sales in Chilliwack and realtors expect much the same in 2017.

While 2016 was a record year for real estate sales in the Chilliwack and District Real Estate Board (CADREB), numbers for the last month of the year seem to point to a cooling.

There were just 165 sales in December 2016 worth $63.9 million, which is down 27.9 per cent compared to the 229 sales worth $82.2 million in December 2015 and down from the 231 sales in November.

Still, 2016 wasn’t only the hottest year on record for CADREB but Chilliwack’s market was the top

performing market in B.C.

And CADREB president Richard Admiraal thinks that December slump won’t last.

“It truly was a banner year,” Admiraal said. “We are seeing a normalization of the market, and already early in January, Realtors are reporting increased activity as the holiday season is behind us.”

While December’s sales dropped, sale prices remain at all-time highs. The median price of a home sold last month across the district was $447,500. That’s up 22 per cent from $367,750 in December 2015.

Broken down by either side of the highway, the Sardis average price was $475,950 and in Chilliwack it was $425,000. Average prices may sound high to locals, but they are proving tempting to those coming from markets to the west.

With an average detached home price in the neighbouring Fraser Valley Real Estate Board (FVREB)—which includes from Abbotsford-Mission to North Delta—up 27.4 per cent to $856,700 last month over December 2015, there is still clearly room for movement locally.

For one thing, the FVREB along with the Greater Vancouver board are affected by the foreign buyers tax implemented in August, while CADREB is not.

Another element sure to keep prices at least where they are in Chilliwack is a significant lack of supply.

It was November 2015 when, for the first time since March 2007, the number of listings in CADREB dropped below 1,000. That culminated in a record-low of 543 homes on the market at the end of 2016, a number up slightly this week to 745, according to CADREB.

“We anticipate the next couple of years in local real estate are going to be busy, but not 2016 kind of busy,” Admiraal said in a press release. “There is a good chance that Chilliwack and area can again be the best performing real estate market in the province in the coming year.”


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

Just Posted

A total of $7,230.85 was raised for Chilliwack Community Services as a result of The Home Depot Canada Foundation’s Orange Door Project in December 2020. (
Thousands raised from Orange Door Project to help homeless youth in Chilliwack

Home Depot Canada Foundation hands over more than $7,000 to Chilliwack Community Services

RCMP Emergency Response Team members on Charles Street in Chilliwack on Jan. 15, 2021 after an undisclosed threat was made by a male. The matter was resolved peacefully. (Darcy Loewen photo)
Heavy Chilliwack RCMP presence on Charles Street Friday after ‘disturbing’ phone call

Man who made threats to harm self and others eventually taken into custody unharmed

Two people were in a vehicle that rolled over on Highway No. 1 near Lickman Road. They are now out of the vehicle. (Jenna Hauck/ Chilliwack Progress)
Vehicle rolls over on Highway 1 near Lickman Road in Chilliwack

Two people in SUV at time of collision in westbound lanes

Both eastbound lanes are completely west of exit 135 on Highway 1. (Google maps)
UPDATE: Traffic now getting through following car collision on Highway 1 in Chilliwack

Incident happened shortly just west of exit 135 for Agassiz/Harrison Hot Springs

Carin Bondar announced Nov. 26 that she will be running in the upcoming byelection to replace outgoing school trustee Dan Coulter. (Sarah Sovereign Photography)
Chilliwack school board candidate Carin Bondar calls for vote-by-mail option

As the COVID pandemic continues, Bondar fears voter turnout will be low for next month’s byelection

Keith the curious kitten is seen on Nov. 4, 2020 at the Chilliwack SPCA. Friday, Jan. 22, 2021 is Answer Your Cat’s Questions Day. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of Jan. 17 to 23

Answer Your Cat’s Questions Day, Pie Day and International Sweatpants Day are all coming up this week

(Photo by Kevin Hill)
40 cases linked to Surrey Memorial Hospital COVID-19 outbreak

Fraser Health says two death are associated with the outbreak

JaHyung Lee, “Canada’s oldest senior” at 110 years old, received his first dose of the COVID-19 vaccine on Thursday, Jan. 14, 2021. He lives at Amenida Seniors Community in Newton. (Submitted photo: Amenida Seniors Community)
A unique-looking deer has been visiting a Nanoose Bay property with its mother. (Frieda Van der Ree photo)
A deer with 3 ears? Unique animal routinely visits B.C. property

Experts say interesting look may be result of an injury rather than an odd birth defect

Sooke’s Jim Bottomley is among a handful of futurists based in Canada. “I want to help people understand the future of humanity.” (Aaron Guillen - Sooke News Mirror)
No crystal ball: B.C. man reveals how he makes his living predicting the future

63-year-old has worked analytical magic for politicians, car brands, and cosmetic companies

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
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

Terry David Mulligan. (Submitted photo)
Podcast: Interview with longtime actor/broadcaster and B.C. resident Terry David Mulligan

Podcast: Talk includes TDM’s RCMP career, radio, TV, wine, Janis Joplin and much more

Seasonal influenza vaccine is administered starting each fall in B.C. and around the world. (Langley Advance Times)
After 30,000 tests, influenza virually nowhere to be found in B.C.

COVID-19 precautions have eliminated seasonal infection

Prime Minister Justin Trudeau listens to a question during a news conference outside Rideau cottage in Ottawa, Friday, January 8, 2021. THE CANADIAN PRESS/Adrian Wyld
Trudeau says Canada’s COVID vaccine plan on track despite Pfizer cutting back deliveries

Canadian officials say country will still likely receive four million doses by the end of March

Most Read