Inventory still remains low as we head into the Spring market. The market in Chilliwack is definitely picked up and prices have actually gone up this past month. There are currently only 956 homes listed in Chilliwack and Surrounding areas, which is lower than last year at this time. Chilliwack has seen an 12.6% increase in prices for detached homes when compared to last year at this time. Overall, prices have gone up when compared to last year at this time. Most buyers are still putting in subjects and doing their due diligence. However, we are seeing some multiple offer situations. We predict that if there is an interest rate drop then the prices will go up significantly. It is predicted the first rate decreaes will be in June 2024. NOW is the time to take advantage of the LOW prices!!
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!