Chilliwack real estate sales surge double digits in October versus 2023, as single-family home prices dip
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CHILLIWACK — The Chilliwack and District Real Estate Board (CADREB) is touting a double-digit increase in real estate sales figures in October 2024 compared to the year prior.
According to a statement from CADREB, the number of homes sold through the Multiple Listing System totaled 243 units in October 2024, an increase of 25.3 per cent from October 2023. On a year-to-date basis, real estate sales equaled 2,420 units over the first 10 months of the year, a more modest gain of 5 per cent versus the same period in 2023.
“Home sales continue to move closer to their long-term averages as demand proceeds along with its recovery in our market,” said Steven Kelly, president of the Chilliwack and District Real Estate Board. “Listings are still coming onto the market in strong numbers, with October posting the second highest level for this month on record. With the market firmly in balanced territory and activity likely to wind down as we approach the winter months, we don’t expect much to change in terms of trends for the time being but all eyes will be on what happens next spring as interest rates continue to move lower.”
The benchmark price for single-family homes was $867,100, virtually unchanged, as it dipped only 0.8 per cent on a year-over-year basis in October. By comparison, the benchmark price for townhouse and row units was $622,900, a minor rise of 1.5 per cent compared to a year earlier, while the benchmark apartment price was $424,500, a small gain of 3.7 per cent from year-ago levels.
