The market is still holding strong! We have had a great winter market. The main cause for this is the low inventory. There are currently only 445 listings in the Chilliwack area. There are multiple offers on most detached properties, along with bidding wars. Sale prices going $100,000+ over asking price on average for detached homes. The average days on market are only 60 days. Chilliwack has seen an 44.2% increase in prices for detached homes when compared to last year. It is still a seller’s market right now and everything is selling for close to asking price or above in some cases, especially if the listings are priced well. So of course, it is a fantastic time to sell your home if you have been thinking about it! It is also a good time to get into the market because interest rates are still fairly low, which means you can qualify for much more and your monthly payments are significantly less. And it is predicated that prices will only continue to go up this year, so get into the market while you can. If you have any questions feel free to reply to this email or give me call/text at 604-812-1326. I would love to hear from you!
If you are thinking about getting into the market give me a call and we can chat further about your options!