Buyers and sellers ‘reluctant’ in current Chilliwack real estate market as sales plummet
CHILLIWACK — The president of the Chilliwack and District Real Estate Board suggests buyers and sellers are reluctant to get back into the market, based on much slower sales activity in April 2025.
According to a statement from CADREB, home sales totalled 229 units in April, a significant drop of 18.5 per cent from April 2024. Real estate sales are 30 per cent below the five-year average and 31.3 per cent below the 10-year average for the month of April.
“Sales and listings were both downbeat in April as buyers and sellers alike seem to be in no rush to get back into the market,” said Emily Vernon, president of the Chilliwack and District Real Estate Board. “With the Canadian election now in the rearview, there is hope that with greater clarity on domestic policies and the possible resolution or productive negotiations on the trade front, consumers may regain some of their confidence with respect to the medium term outlook. Although the market is low, homes that are smartly priced are selling.”
The benchmark price for single-family homes was $936,400, essentially unchanged, up just 0.9 per cent on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $645,600, a small gain of 1.6 per cent compared to a year earlier, while the benchmark apartment price was $425,000, increasing by 3.8 per cent from year-ago levels.
