Wednesday, July 8, 2009

June 2009 Chilliwack Real Estate MArket Report

Market Report for June 2009 from the Chilliwack District Real Estate Board statistics.
This is HappyHomesBC with the monthly market report taken from the Chilliwack and District Real Estate board for the month of June 2009.
Well summer is here and the temperature is heating up but so is the Chilliwack Real Estate Market. Personally we have increased our sales in our office over 30% over the last 60 days but the stats across the Chilliwack and District Real Estate Board remain active and are rising slightly.
The number of days that homes are listed on the market before selling is hovering around the 70 day mark and that was consistent with the month earlier. I think we will see that number decrease over the next couple of months. If you have listed your home this year and have not received an offer within 70 days of listing then there are 3 things that you need to consider – 1) either nobody knows about your property or 2) you are over-priced and need to think about adjusting your price or 3) you are priced in the upper echelon price point over $700,000.
For Single Family and attached town-homes we saw a slight increase in those target areas of about 10% from the year before. Total sales value was consistent with last year so prices have stabilized.
The biggest jump in sales occurred from $225,000 to $275,000. About a 28% increase in homes sold compared to the month of May. Who are those buyers? Investors and First time buyers. Welcome back you guys. Good to see you again. Interest rates were too good and you just had to get off the fence didn’t you. We are happy to see you back in the game.
Once gain for the second month in a row, - the most amount of sales were in the $300,000 to $350,000 bracket. OK now, I repeat from last month. If you have a home priced in that category and it hasn’t sold over the last 30 to 60 days then chances are you are over - priced for what you have and you are just helping other people sell their homes. We encourage you to consult with your REALTOR today to analyze where you are at.
We are looking forward to helping people get into homes over the summer and we are here to serve you. google Chilliwack Real Estate and you can find us on the internet or just type in and you can learn a lot about how we can help you. Have a great July

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