Image: Mike Vanden Bosch / Pattison Media / Home sales in the Chilliwack and District Real Estate Board service area continued their upward ascent in April 2024. The number of homes sold through the Multiple Listing Service system of the Chilliwack and District Real Estate Board totaled 282 units in April 2024, an increase of 2.2 per cent (six sales) from April 2023. On a year-to-date basis, home sales totaled 965 units over the first four months of the year in 2024. This was a gain of 9.5 per cent from the same period in 2023.

By Mike Vanden Bosch

Chilliwack real estate sales

Home sales in Chilliwack area continue upward momentum in April, but so have single-family home prices

May 9, 2024 | 10:53 AM

CHILLIWACK — Despite mortgage interest rates that remain stubbornly high for some people’s liking, home sales in the Chilliwack and District Real Estate Board service area continue their upward ascent.

The number of homes sold through the Multiple Listing Service system of the Chilliwack and District Real Estate Board totaled 282 units in April 2024. This increased by 2.2 per cent (six sales) from April 2023.

“While home sales still aren’t going to be setting records any time soon, demand is steadily progressing further and further away from the lows experienced in the summer of 2022,” said Steven Kelly, president of the Chilliwack and District Real Estate Board. “New supply is coming onto the market at healthy and supportive levels, and overall inventories are trending above average levels as the size of our housing market continues to experience rapid growth. MLS Benchmark Price gains have now been trending in positive territory for several months and are posting modest single-digit year-over-year increases.”

On a year-to-date basis, home sales totaled 965 units over the first four months of the year. This was a gain of 9.5 per cent from the same period in 2023.

Like sales, benchmark prices for single-family homes in CADREB have also increased year over year. CADREB, which says the MLS Home Price Index is a more accurate barometer than average or median price measures, reports that the benchmark price for a single-family home was $923,500, up 7.3 per cent in April 2024 versus April 2023. By comparison, the benchmark price for townhouse/row units was $636,100, an increase of 6.4 per cent compared to a year earlier, while the benchmark apartment price was $416,600, a small gain of 3.4 per cent from year-ago levels.

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