Chilliwack real estate statistics - December 2010
Well I'm overjoyed to inform you that December was a great month for real estate in Chilliwack. On a seasonally adjusted basis we were up 24% over November's numbers. Comparing numbers to 2009 doesn't really mean anything because you need to look at the year as a whole, which is where we get our seasonally adjusted numbers from.Predictions for 2011. Hopefully the highs and lows of 2008-2009 are gone and we should be heading into a more normal - steady market. Most believe that home prices may actually decline by 1% in 2011 but with more home buyers on the market there should be less low ball offers. Latest word from Finance Minster Flaherty this morning says the Federal Government is looking at adjusting the home buying experience. Similar to last April they are looking at increasing the minimum down payment and also decreasing the amortization. Both ideas would not be good for the economy so hopefully the Feds do the right thing by not changing anything, however, if you are on the fence about buying NOW might be a good time to take the plunge.
As home sellers. Look at all comparables - make sure your home looks mint, inside and out - listen to the advice of your REALTOR® (sidebar...I'm available to work for you) - and finally price your home well.
As home buyers. Look at all possible properties. For example, in Chilliwack we have townhouses that are bigger than most homes and often are much newer and priced much lower than a comparable detached home. Again look at all comparables - put together a strong contract - and finally listen to the advice of your REALTOR® (I'm also available to work for you here as well...just saying)
Some final stats to chew on:
Hottest price range in Chilliwack: Between 275K-350K with 34 sales last month
Average time on market to sell a House is 60 days - Townhouse 91 days - Condo 79 days - Mobile 87 days
December 2010 generated almost 41 million dollars in real estate sales.
Remember you can follow me on Twitter or Facebook - feel free to give me a call or email - I'm always available to chat.
Thanks,
Kyle Hislop
RE/MAX