Image: Mike Vanden Bosch / Pattison Media / A house for sale at 44663 Anglers Boulevard in Chilliwack in August 2023. The Chilliwack and District Real Estate Board, representing realtors from Chilliwack to Boston Bar, says sales rebounded last month compared to a year ago, but are still far below average for a typical August. Steve Lerigny, executive officer for CADREB, reported in a news release that the number of homes sold in CADREB through the Multiple Listing System totaled 191 units in August 2023. This was a substantial increase of 32.6 per cent from August 2022.

By Mike Vanden Bosch

Chilliwack real estate sales

Chilliwack real estate sales rebound from 2022, but still below average for August

Sep 8, 2023 | 6:00 AM

CHILLIWACK — The Chilliwack and District Real Estate Board, representing realtors from Chilliwack to Boston Bar, says sales rebounded last month compared to a year ago, but are still far below average for a typical August.

Steve Lerigny, executive officer for CADREB, reported in a news release that the number of homes sold in CADREB through the Multiple Listing System totaled 191 units in August 2023. This was a substantial increase of 32.6 per cent from August 2022.

Home sales were 28 per cent below the five-year average and 31.1 per cent below the 10-year average for the month.

On a year-to-date basis, home sales totaled 1,914 units over the first eight months of the year. This was a moderate decrease of 5.1 per cent from the same period in 2022.

“Home sales bounced back from last August when activity reached the lowest for the month in a decade, although we still have a long way to go before we’re back at more typical levels,” said Brad Latham, president of the Chilliwack and District Real Estate board. “The recovery that had been building momentum earlier in the year lost some steam over the second half of the summer, although new supply is now trending upward very strongly. This has resulted in a reversal of the tighter conditions we saw at the beginning of the summer and has put the market back closer to buyer’s territory.”

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CADREB says the MLS Home Price Index (HPI) tracks price trends much more accurately than is possible using average or median price measures. The overall MLS HPI composite benchmark price was $739,800 in August 2023, falling by 2.1 per cent compared to August 2022.

The Chilliwack and District Real Estate Board is an association of 365 realtors that provides services to and sets standards for its members. The Chilliwack and District Real Estate Board serves Chilliwack, Agassiz, Hope, Boston Bar and Harrison.

by Mike Vanden Bosch

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Chilliwack real estate sales rebound from 2022, but still below average for August

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