Even as we head in to November, the real estate market continues to show no signs of slowing down.
 
With 32% less listings on the market than there was pre-COVID, but 61% more sales thanks to increasingly low interest rates, we are seeing a strong Seller's Market.
 
Listings are often receiving multiple offers within the first day because buyers are still out there patiently waiting for the right home to be listed.
 
Nearly every type of home is selling for record high prices right now. If you are thinking of selling, this is one of the safest times to do so.
 
It is definitely a competitive market for Buyers right now but with the help of an experienced Realtor it is still possible to get it done! One of the advantages to working with a real estate agent is that you have the chance to get in to a listing before it even hits the market so you can beat the rush and avoid getting in bidding wars with several other buyers.
 
The Bank of Canada has stated they intend to keep interest rates low until at least 2023 so it's a safe bet that this activity will keep up for a couple years and prices will rise.
 
If you're thinking of buying a home for the first time, or up-sizing out of your condo or townhome, this could be the best opportunity you get!
 
Call or text me at 604-798-3960 if you have any questions.
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Despite a slight slowdown of 2% in BC’s economy, home sales in Chilliwack and area have jumped dramatically from the same time last year.


Last month, a total of 281 homes sold locally, up from last month and up significantly from the 162 sales in September of 2018. The total dollar value reached almost $147.6 million, compared to just over $84 million in September of last year.

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I'll keep this market update nice and short. The market throughout Chilliwack and the Fraser Valley are still active with no signs of slowing down!

We saw 62% more sales than August of 2019 with prices all 11-13% higher than they were this time last year within the Chilliwack area.
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Last months real estate market statistics:

Low inventory and increased sales are continuing to push prices up to near record highs with average detached homes climbing over 12% since July last year.

While the conditions are favoring sellers at the moment, there are still good opportunities for buyers out there, my best advice is to be as prepared as possible!

Talk to your mortgage broker or bank ahead of time to make sure they have everything prepared so you can be ready to write an offer right away when the right house is listed.

Give me a call or text at 604-798-3960 if you have any questions about market conditions!

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Looks like the real estate market is the only thing hot about this summer so far!
 
Massive 31% increases in sales compared to June last year, at the same time carrying a -17 to -30% decrease in active listings.
 
Seriously low supply, with a huge increase to demand is keeping us in a Seller's Market.
 
We're seeing similar conditions to when the market was at peak activity, with multiple offers, accepted offers on the first day on the market, above list price offers, etc.
 
With all this action, if things keep up at this rate, prices will continue to increase until things balance out.
 
My best advice to buyers is to be as prepared as possible! Make sure you are pre-qualified with your bank or mortgage broker so you can be ready to write an offer the moment your dream home is listed. If you wait even a day or two it might be gone!
 
Give me a call at 604-798-3960 if you ever have questions about buying or selling a home!
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.