‘Robust’ July seen in Chilliwack house sales

Thanks to a cool and rainy month, the Chilliwack area posted a robust July in a typically sluggish time for house sales, said Mark Andersen, president of the Chilliwack and District Real Estate Board.

Thanks to a cool and rainy month, the Chilliwack area posted a robust July in a typically sluggish time for house sales, said Mark Andersen, president of the Chilliwack and District Real Estate Board.

A total of 179 homes sold in July, he said, which is up considerably from the 144 sales recorded last year in July, but down slightly from a month earlier.

Sales were “particularly strong” in the middle- and upper-end market, according to statistics compiled by the board.

“The local market saw a lot of interest in homes in the mid-$300,000 levels and up,” Andersen said.

“Due to strong inventory and continued low interest rates,” he said, “potential homeowners are taking advantage of this optimum time to negotiate on a move-up house or to buy their first one,” he said.

The highest number of sales last month (30 of the 179) were in the $300,000 to $349,999 range, according to board statistics, followed by 23 homes in the $350,000 to $399,999 range, and 21 in the $400,000 to $499,999 level.

Fifteen sales were over the half-million dollar mark.

Housing inventory in the Chilliwack area remains high, with 1,904 houses on the market.

“The speculation remains that interest rates will inch up towards the end of the year,” Andersen said.

“Home sales typically slow down in August, which means sellers are hungry for a deal,” he said, so now is an “excellent time” for first-home buyers or those looking for a move-up home or an investment property.

The real estate industry contributes “significantly to the financial health of communities, Andersen said, noting that sales in July totalled just over $55 million.

“The various spin-offs from those sales – transaction and moving cost, furniture sales, etc – generate significant revenue for local businesses,” he said.

Just Posted

Chilliwack RCMP find chemicals and cannabis extract in illicit lab

Marijuana may be legal but altering it using chemicals violates the Cannabis Act

Chilliwack RCMP seek suspects in rash of poppy donation box thefts

Incidents at four different locations in Sardis in the days leading up to Remembrance Day

German-born British Columbian warns against a ‘yes’ vote on proportional representation

Agassiz realtor Freddy Marks says PR in his home country shows party elites can never be voted out

Train ride at Minter store not part of this year’s festive fun

Tough decision made to stop seasonal train in its tracks after injury suffered by Brian Minter

Players Guild challenges Chilliwack residents to solve classic Agatha Christie whodunit mystery

The Chilliwack Players Guild is performing Murder on the Nile from Nov. 22 to Dec. 2

Winter weather hits parts of Canada

As some parts of the country brace for cold, parts of B.C. remain warmer than 10 C

Canada’s health system commendable overall but barriers to care remain: UN

The United Nations says Canada’s health care system is “commendable” overall but vulnerable groups still face barriers to quality care.

Unique technology gives children with special needs more independent play

UVic’s CanAssist refined seven prototypes aided by $1.5M government contribution

Kelly Ellard’s boyfriend has statutory release revoked

Darwin Duane Dorozan had several parole infractions that found him ‘unmanageable’

New chair of Metro Vancouver board is Burnaby councillor

The 40-person board is made up of elected officials from 21 cities and one First Nation

Doctor’s note shouldn’t be required to prove you’re sick: poll

70% of Canadians oppose allowing employers to make you get a sick note

Fashion Fridays: 5 coats you need this winter!

Kim XO, lets you know the best online shopping tips during Fashion Fridays on the Black Press Media Network

Saskatchewan college honours memory of Humboldt Broncos coach

Darcy Haugan wore jersey No. 22 when he was a star player with the Briercrest College Clippers

Liberals to act quickly if Saturday midnight deal deadline breached: source

Oh Friday, Canadian Union of Postal Workers said it would not bring the latest offers to a vote of its members

Most Read