Real estate prices for single-family homes in Sardis, Chilliwack, Yarrow, Cultus Lake, Agassiz and Hope are finally dropping compared to earlier this year
-
Share on Facebook
-
Share on Bluesky
-
Share on X
- Copy Link
CHILLIWACK — Perhaps the most glaring statistic from August’s real estate sales data released Friday (Sept. 2) by the Chilliwack and District Real Estate Board (CADREB) wasn’t necessarily the sales activity itself.
Compared to a year ago, there were only 147 sales of homes in August, a far cry from the hotbed of activity in August 2021 when 346 homes sold.
But the biggest takeaway from the data appears to be a significant drop in the benchmark price of a single-family home compared to what was happening in the greater Chilliwack area just six months ago.
According to CADREB, the benchmark price for a Sardis single-family home that sold in August 2022 was $951,400. If that seems high, it’s a drop in the bucket compared to six months ago when the benchmark price of a single-family home in Sardis was $1,229,200. In July 2021, the benchmark price was $1,016,600.
