Ben Truscott Real Estate Report - December 2020

What a year! Even though the real estate market was at a standstill for months due to COVID-19, total annual sales in the Chilliwack-Hope District still finished 18.8 per cent above the 10-year average due to intense pent-up consumer demand during the second half of 2020.

Current inventory is still extremely low making the market very competitive with many homes selling on day one, often with multiple offers.

With low interest rates sticking around, prices are expected to continue to rise. If you are thinking of buying or upsizing now is a great time to consider doing so!

Make sure you talk to a mortgage broker early to get your financing 100% ready before shopping since you might not have the time before your favorite listings sell.

Give me a call or text at 604-798-3960 if you ever have more questions about the market conditions.
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