SINGLE FAMILY DETACHED SALES - December 2009
Chilliwack Fraser Valley
Sales 74 506
Average Sale Price $33
334,000 $556,000
Average List Price $345,000 $571,000
Price Sale to List 97% 97%
Days on Market 85 days 60 days
Active Listings 676 3670
Ratio Sale to List 12% 15%
STRATA ATTACHED (apartment, townhouses)
Chilliwack Fraser Valley
Sales 47 394
Average Sale Price $216,000 $277,000
Average List Price $220,000 $283,000
Price Sale to List 98% 98%
Average Days on Market 68 54
Active Listings 405 2283
Comments:
Single Family Housing
Sales of houses in the Chilliwack area fell off slightly from the 90 sales in December to 74 sales in January but not enough to worry about. The 74 sales look terrific compared to the 41 sales a year ago in January of 2009 but what a dreadful period that was. Sale numbers are still lower than in 2006 and 2007 though by about 25% meaning this market is still in recovery mode.Sales of houses in the Fraser Valley area also fell from 636 sales the month before, December 2009, to a January 2010 total of 506 sales. This is quite a drop a first appearance but the Fraser Valley market has been red hot since August and this decrease just signifies a cooling to normal levels. Not to worry.
Prices of single family houses declined in both areas but more so in Chilliwack than in the Fraser Valley. Inventory levels are increasing for the spring market at present time which unless sales activity increasing could cause further downward pressure on prices.
My thoughts are that the market perhaps with the warm winter we are having will get active earlier this year and this weekend the number of "sold" signs and the properties viewed with "time clause" offers support this notion.
Strata Sales
This part of the market which includes the sale of apartments, townhouses and strata duplexes seems solid in terms of sales activity in comparison with the 2006-2009 periods. Sale prices remain steady in the Fraser Valley area but declined in Chilliwack by 5% between December and January. Averages however in the Chilliwack area are based on a relatively small sample and more erratic to swings and consequently more unreliable.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.
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 February 1, 2010 by Stephen Mullock.
1 comments:
These numbers are great! Thanks for posting them!
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