Wednesday, September 2, 2009

August 2009 Real Estate Market Report for Chilliwack

August Market Report

This is your happy home specialists bringing you the Real Estate Market Report that has been compiled from data that is distributed from the Chilliwack and District Real Estate Board.
Another strong month is behind us and all indicators are that the market is now on the move and people are taking advantage of fantastic interest rates and low prices. We are definitely witnessing signs of an upward movement in sales prices. Buyers seem to be responding with more confidence which is driving sales in an upward direction.
Over 52% of the residential sales that occurred in the month of August were in the price point of $275,000 to $500,000!! This is up from last month which saw the largest amount of residential sales between $225,000 to $400,000. Sales in the price point of $400,000 to $500,000 increased by over 30% from the month of July. This is what we have been waiting for...
Average days to sell dropped to an average of 64 days down from 72 last month so that tells us that the market is responding. We hear it loud and clear.
Total residential sales increased in dollar volume by 19% and the amount of inventory on the market is down 36% from the year prior. That is the trend that we have been experiencing this year and it is continuing which is really good news.
We are looking forward to an excellent Fall. The media seems positive but they don’t seem to understand how good it is here in Chilliwack. Well to us it is big news and we are excited to help families get into the best homes for the best price in todays market. Call us anytime if you would like more specific market information.
Talk to you next month.

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