Chilliwack and District is still a relatively active market. Prices are stable, edging towards a buyer’s market. Sellers need to price their homes keenly for quicker sales. Unit sales were fairly strong for the month, at 216 housing units which equated to a 8.5% increase however the benchmark price dipped slightly; down 1.6% overall. New listings coming on the market were down 2.7% which will keep prices relatively flat. Total listings on the MLS system is only down 0.5% at 1253 total listings. Buyers are putting in subjects and doing their due diligence. However, we are seeing some multiple offer situations. NOW is the time to take advantage of the LOW prices!! As Bank of Canada does more rate cuts, the prices will start to go up again.
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!