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 HappyHomesBC.ca and you can learn a lot about how we can help you. Have a great July
Showing posts with label Chilliwack home sales. Show all posts
Showing posts with label Chilliwack home sales. Show all posts
Wednesday, July 8, 2009
Tuesday, May 5, 2009
Chillwack Real Estate Market Report for April 2009
This is HappyHomesBC with a Real Estate Market Report for Market Activity in the Chilliwack and District Real Estate Market in the month of April. We have just received the data from the Chilliwack and District Real Estate board and we have taken the time to assimilate the information and give you a comprehensive report that will help you properly understand the Real Estate Market Activity in the Chilliwack area.
The amount of sales has increased incrementally from the month of March. The amount of the listings left is exactly the same for residential properties so as I said last month – the gap is closing. Interest rates have come down dramatically where qualified buyers can have the opportunity to get a 5 year locked in rate of 3.69% when they buy a home today. We expect market activity to increase as a result. Prices have stabilized and we are noticing that homes that are priced effectively are getting the attention. Pricing your home effectively is absolutely crucial at this moment of time. Buyers are out there and they are armed with a lot of information and they know when a home is priced well and when they find it they are pulling the trigger. Last year we had 1757 listings left in the month of April 2008 and this year we were left with 1475 listings a 16% drop. More activity and less listings to choose from is good for the market. The sales of townhomes almost doubled from the previous month once again re-enforcing the fact that there is a bottom push from the lower end with entry level buyers entering the marketplace. This is exciting because we will be experiencing the pressure of that push soon into the higher price points.
The average days to sell increased this month which tells us something. That maybe the cause for that would be that people who had their homes on the market over 75 days adjusted their prices and subsequently received offers. That is good news because people are now adjusting mentally to todays market conditions. We are reaching a point where business is active and buyers and seller s are coming to a meeting of the minds so to speak making it a great time to buy and sell a home. Prices are down over 15% from 18 months ago and interest rates are down over a full percentage point for fixed 5 year rates!! The Affordability factor is back in the game. Another testament to that fact is that the amount of sales over $400,000 dropped in half but sales between $350,000 to $400,000 increased by 58%!!
Give us a call anytime to learn more insights into the Chilliwack and District Real Estate Market. Check out our website for more information at www.happyhomesbc.ca to see video tours and our most recent market report. This is HappyhomesBC signing off with your Real Estate Market Report for sales activity for April 2009. All the best to you and yours.
The amount of sales has increased incrementally from the month of March. The amount of the listings left is exactly the same for residential properties so as I said last month – the gap is closing. Interest rates have come down dramatically where qualified buyers can have the opportunity to get a 5 year locked in rate of 3.69% when they buy a home today. We expect market activity to increase as a result. Prices have stabilized and we are noticing that homes that are priced effectively are getting the attention. Pricing your home effectively is absolutely crucial at this moment of time. Buyers are out there and they are armed with a lot of information and they know when a home is priced well and when they find it they are pulling the trigger. Last year we had 1757 listings left in the month of April 2008 and this year we were left with 1475 listings a 16% drop. More activity and less listings to choose from is good for the market. The sales of townhomes almost doubled from the previous month once again re-enforcing the fact that there is a bottom push from the lower end with entry level buyers entering the marketplace. This is exciting because we will be experiencing the pressure of that push soon into the higher price points.
The average days to sell increased this month which tells us something. That maybe the cause for that would be that people who had their homes on the market over 75 days adjusted their prices and subsequently received offers. That is good news because people are now adjusting mentally to todays market conditions. We are reaching a point where business is active and buyers and seller s are coming to a meeting of the minds so to speak making it a great time to buy and sell a home. Prices are down over 15% from 18 months ago and interest rates are down over a full percentage point for fixed 5 year rates!! The Affordability factor is back in the game. Another testament to that fact is that the amount of sales over $400,000 dropped in half but sales between $350,000 to $400,000 increased by 58%!!
Give us a call anytime to learn more insights into the Chilliwack and District Real Estate Market. Check out our website for more information at www.happyhomesbc.ca to see video tours and our most recent market report. This is HappyhomesBC signing off with your Real Estate Market Report for sales activity for April 2009. All the best to you and yours.
Tuesday, March 3, 2009
Real Estate Markets and the Placebo effect
There is something that we have all heard of and that is the Placebo Effect. If a person is not feeling well or believes that they have a serious illness, they will visit their doctor and the doctor tells them that if they take this pill for a couple days the symptoms will disappear and they will begin to feel better. They have a strong belief that they are sick and that there is something wrong with their bodies and this is verified by the symptoms that they are feeling and expressing. Then they build a new belief based on what the doctor has told them. That new belief is what they want or desire and that is simply, to feel better. They now believe that this little pill will make them feel better. Suddenly shortly after injesting the medicine the symptoms start to disappear. What really happened is that the doctor examined the patient and with his knowledge and experience and a little bit of common sense came to the conclusion that this patient was fine based on all regular indicators. He ascertained that this person/patient needed to believe that he was giving them a solution. "It is all in their head" so to speak. Our beliefs are so strong sometimes that we can actually effect our bodies and almost "create" an illness or the symptoms of an illness.
Well let me ask you this......."is it possible that the reason that the Real Estate Market is a little bit slower, and prices are coming down a little, possibly from the Placebo effect of the media?" After all they are the trusted source. These specialists and analyzers come on the 6:00 NEWS and tell us about all the troubles of the world and suddenly in a little town of Chilliwack BC we meet the statistics exactly. We are meeting the expectations of the media sources exactly. We are experiencing the symptoms and believing it and feeling the effects of it. It feels like a recession because they are calling it a recession.
Here's another point. Let's say you wake in the morning and you feel fine. You wife or husband says to you..."Oh honey, are you feeling ok? you seem a little discolored" you answer "No I feel fine". You head to work and the person in your carpool says "Wow are you feeling ok? You're looking a little sickish" . Then you arrive at work and your secretary says to you.... "Good Morning.... Oh are you sure that you should have came in today? You look like you're sick"....etc and this goes on for the next couple of hours of the day. I am willing to bet that you will be heading home early that day and suddenly take on the symptoms of being sick. But you woke up in the morning feeling just like any other day. When it is expressed to you enough times by trusted people, people that you see everyday, it will creep into your mind and you will begin to take on the symptoms that they are referring to.
Now what if someone with enough clout came on the TV screen and could reach out into your living room and give you a 'smack' on the cheek and say "Wake UP!!! Take a look around you!!! Everything is fantastic" .
As of today the prime mortgage rate is now 2.5%!!! This is the lowest ever!! Even a prime plus 1% loan will get you to 3.5%. What? Are they going to start paying you to use their money? Obviously not, but this is ridiculous. Prices are down an average of 15% from 18 month ago and interest rates are the lowest ever. There is a lot of inventory out there and some Sellers have to sell. What better climate can there be for a Buyer. Remember, once you sell you get to be a Buyer. This is the ultimate Buyer's Market!!! People wake up. We don't have any car companies laying people off. We are a hustling and bustling economy here in Chilliwack BC. We know that there are people ready to buy because when the prices come to a point that you can't ignore any longer then they come out of the woodwork. Garrison Crossing has sold over 12 units in the last 2 weeks. The Flora apartment building on Mary Street has sold over 1/3 of the building in 30 days. Prices increased over 99% since 2002 and have only dropped 15% and I believe that we are bouncing on the bottom now.
Now let's analyze as if we are the doctors: Interest Rates? Lowest EVer. Ok now let's check the pulse of employment. HMmmm yep that is still quite low. Any new events coming to the area? Oh yes......THE 2010 OLYMPICS!!! Yes well. Let's take a look around. Cough for me...Clean Air and Water. Mountains. Lakes. Ocean. 1 hour from the Big City - Vancouver. HmmHmm, Yes that is the most beautiful City in North America. Yes I agree. Oh really? A new University is constructing right now. The RCMP has relocated their training facility to Chilliwack. And Yes. the Justice Institute is there as well. What's that? Companies are currently building facilites that will employ hundreds of people in the Chilliwack area. Nice. Oh I see. The City of Chilliwack itself has no debt at all. Wow that is impressive. Oh yes and I heard about the Evans Road overpass that is currently under construction. What's that? You have a local WHL hockey team as well - The Chilliwack Bruins? Oh is that right. A new Entertainment Arts Center is under construction right now. Oh is that right beside the new Landing Liesure Center and the new Prospera Center which is right across the road from the new Football field? Wow.
Well it seems to me that you will be feeling pretty good pretty soon. Just take this little (sugar) pill and you should be feeling fine any day now.
Come on people - - - - go to our website at http://www.happyhomesbc.ca/ and check out some videos that talk about the Chilliwack area and also we have a new video speaking about "The Falls Golf Course and Resort". Looking forward to meeting you.
Well let me ask you this......."is it possible that the reason that the Real Estate Market is a little bit slower, and prices are coming down a little, possibly from the Placebo effect of the media?" After all they are the trusted source. These specialists and analyzers come on the 6:00 NEWS and tell us about all the troubles of the world and suddenly in a little town of Chilliwack BC we meet the statistics exactly. We are meeting the expectations of the media sources exactly. We are experiencing the symptoms and believing it and feeling the effects of it. It feels like a recession because they are calling it a recession.
Here's another point. Let's say you wake in the morning and you feel fine. You wife or husband says to you..."Oh honey, are you feeling ok? you seem a little discolored" you answer "No I feel fine". You head to work and the person in your carpool says "Wow are you feeling ok? You're looking a little sickish" . Then you arrive at work and your secretary says to you.... "Good Morning.... Oh are you sure that you should have came in today? You look like you're sick"....etc and this goes on for the next couple of hours of the day. I am willing to bet that you will be heading home early that day and suddenly take on the symptoms of being sick. But you woke up in the morning feeling just like any other day. When it is expressed to you enough times by trusted people, people that you see everyday, it will creep into your mind and you will begin to take on the symptoms that they are referring to.
Now what if someone with enough clout came on the TV screen and could reach out into your living room and give you a 'smack' on the cheek and say "Wake UP!!! Take a look around you!!! Everything is fantastic" .
As of today the prime mortgage rate is now 2.5%!!! This is the lowest ever!! Even a prime plus 1% loan will get you to 3.5%. What? Are they going to start paying you to use their money? Obviously not, but this is ridiculous. Prices are down an average of 15% from 18 month ago and interest rates are the lowest ever. There is a lot of inventory out there and some Sellers have to sell. What better climate can there be for a Buyer. Remember, once you sell you get to be a Buyer. This is the ultimate Buyer's Market!!! People wake up. We don't have any car companies laying people off. We are a hustling and bustling economy here in Chilliwack BC. We know that there are people ready to buy because when the prices come to a point that you can't ignore any longer then they come out of the woodwork. Garrison Crossing has sold over 12 units in the last 2 weeks. The Flora apartment building on Mary Street has sold over 1/3 of the building in 30 days. Prices increased over 99% since 2002 and have only dropped 15% and I believe that we are bouncing on the bottom now.
Now let's analyze as if we are the doctors: Interest Rates? Lowest EVer. Ok now let's check the pulse of employment. HMmmm yep that is still quite low. Any new events coming to the area? Oh yes......THE 2010 OLYMPICS!!! Yes well. Let's take a look around. Cough for me...Clean Air and Water. Mountains. Lakes. Ocean. 1 hour from the Big City - Vancouver. HmmHmm, Yes that is the most beautiful City in North America. Yes I agree. Oh really? A new University is constructing right now. The RCMP has relocated their training facility to Chilliwack. And Yes. the Justice Institute is there as well. What's that? Companies are currently building facilites that will employ hundreds of people in the Chilliwack area. Nice. Oh I see. The City of Chilliwack itself has no debt at all. Wow that is impressive. Oh yes and I heard about the Evans Road overpass that is currently under construction. What's that? You have a local WHL hockey team as well - The Chilliwack Bruins? Oh is that right. A new Entertainment Arts Center is under construction right now. Oh is that right beside the new Landing Liesure Center and the new Prospera Center which is right across the road from the new Football field? Wow.
Well it seems to me that you will be feeling pretty good pretty soon. Just take this little (sugar) pill and you should be feeling fine any day now.
Come on people - - - - go to our website at http://www.happyhomesbc.ca/ and check out some videos that talk about the Chilliwack area and also we have a new video speaking about "The Falls Golf Course and Resort". Looking forward to meeting you.
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