DECEMBER 2009 CHILLIWACK HOUSING REPORT

The following report looks at the Multiple Listing sale results within the Fraser Valley, British Columbia for the month of December 2009.  The Fraser Valley is divided into two sections along the lines of the two real estate boards that operate within the area - they are the Chilliwack Real Estate Board (east of the Vedder Canal) and the Fraser Valley Real Estate Boards (west of the Vedder Canal, Abbotsford to Delta).

SINGLE FAMILY DETACHED SALES - December 2009

                                                         Chilliwack                 Fraser Valley

Sales                                                        90                            636

Average Sale Price                                $353,000                  $563,000
Average List Price                                 $359,000                  $584,000
Price Sale to List                                    98%                         96%   

Days on Market                                    71 days                      57 days

Active Listings                                       579                            3027   

Ratio Sale to List                                   14%                           18%


STRATA ATTACHED (apartment, townhouses)

                                                        Chilliwack                   Fraser Valley

Sales                                                50                                439

Average Sale Price                           $227,000                     $276,000
Average List Price                            $232,000                     $283,000
Price Sale to List                              98%                             98%

Average Days on Market                 69                                57

Active Listings                                 333                              1934

Comment:

With respect to single family detached dwellings it is interesting to note that the average sale price in both Chilliwack and the Fraser Valley west area increased in value by 3% over that of November 2009. The Fraser Valley market continues to be hot with 636 sales in the month thumping the 2007 December sale numbers of 486.  Chilliwack had the second best sale numbers since 2006 - not too shabby.

The strata attached market follows very similarly to the single family detached market with respect to market sales without the uptick in average prices, instead, a seasonal cooling of prices is observed.

The analysis above is based on my interpretation of information provided by the Chilliwack and District Real Estate Board and does not take into account private sales. The term "Chilliwack" is used here quite loosely to refer to an area serviced by the Chilliwack and District Real Estate Board which includes communities such as Chilliwack, Agassiz, Harrison Hot Springs, Hope, Yale and Boston Bar. The Fraser Valley West area embraces the entire Fraser Valley Real Estate Board area which extends from Abbotsford to Delta.




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Stephen Mullock is a Chilliwack real estate associate broker with 29 years of experience. He can be reached at Royal LePage Wheeler Cheam Realty, telephone 604-792-0077.

Copyright January 4, 2010 by Stephen Mullock.