Average home prices are still on the rise in the Fraser Valley with a 38.2% increase on detached homes compared to last year. Chilliwack has gone up 36.9% in the last year for detached homes as well.
Low inventory continues to be the biggest factor impacting the market. Buyers and Sellers are facing difficulties with the lack of supply, quick turn-around times and multiple offer situations and are relying on the experience of their Realtor to navigate the situation.
The Fraser Valley has 47.9% less active listings at 3,048 compared to 5,847 in November last year.
Chilliwack has also decreased 50.6% in active listings at 383 compared to 776 in November 2020.
If you or someone you know is thinking of selling, now is a great time to get maximum profit on listings.
If you have any questions about listing your home or if you would like a free, no-commitment evaluation please feel free to call or text me anytime at 604-798-3960.