Chilliwack home sales remain strong as single-family home prices actually drop

CHILLIWACK — The Chilliwack and District Real Estate Board says homes sales were much stronger in August compared to a year ago, while the benchmark price for a single-family home in the Chilliwack area actually dropped in August versus 2023.

According to a news release from CADREB executive director Steve Lerigny, the number of homes sold through the Multiple Listing Service system totaled 227 units in August 2024, a substantial increase of 19.5 per cent versus August 2023.

On a year-to-date basis, home sales totaled 1,962 units over the first eight months of the year, a nominal gain of 2.6 per cent from the same period in 2023.

“Demand continues to return to the market at very supportive levels and the ongoing momentum in sales activity has shown no signs of slowing down or stalling,” said Steven Kelly, president of the Chilliwack and District Real Estate Board. “Although sales have come a long way in two years since bottoming out there’s still a way to go to get back to what we might call more normal levels of activity. In the meantime, new supply remains at healthy levels and the market is firmly in balanced territory, with plenty of available listings for buyers who are ready to make a purchase.”