Average single-family home in CADREB sold for nearly $900K in May

CHILLIWACK — Compared to May 2022, sales of homes, condos and apartments in May 2023 increased steadily, and the average price of a single-family home in the Chilliwack and District Real Estate Board (CADREB) jurisdiction sold for just under $900,000.

According to stats released by CADREB last week, there were 214 homes that sold in May 2023, 86 townhouses changed hands, and 48 transactions involving condos occurred in the 31-day month of May. It’s a significant increase from May 2022 when only 105 homes were sold alongside 53 townhouses and 42 condos.

However, May 2023 were slow compared to the month before. The number of homes sold through the MLS system of the Chilliwack and District Real Estate Board totaled 277 units in April 2023.

The average selling price of a single-family home that sold in May 2023 was $896,072, a considerable decrease from May 2022 when the average single-family home sold for $1,030,011.