Chilliwack real estate stats - March 2011
Here are the Chilliwack real estate stats for the month of March 2011. On the residential side we are down 18 units from this same month last year. A little unusual considering the interest rates have continued to stay low and prices of homes have also remained lower than years past. 
The amount of listings are also up by 53 units over this time last year which indicates that we have less buyers in the market. Looking at days on market, nothing has really changed over the past 3 months. Homes are still taking time to sell, nothing is a quick sale in today's market. Typically April is the beginning of the spring market with May and June being the 2 hottest months of the year. The past 3 months in a row we are posting less sales than last year, which as I said before is a bit of a surprise. Most of us were expecting sales to increase by about 6% this year over last.
If you are a buyer in today's market you are in a great position. Low interest rates, lower home prices and large surplus of homes on the market make this spring a great time to buy. If you are looking for a REALTOR® I'm pretty sure I can suggest a great one :)
I'll post the past 3 months in the blog after this so you can compare.
Kyle Hislop
RE/MAX
The amount of listings are also up by 53 units over this time last year which indicates that we have less buyers in the market. Looking at days on market, nothing has really changed over the past 3 months. Homes are still taking time to sell, nothing is a quick sale in today's market. Typically April is the beginning of the spring market with May and June being the 2 hottest months of the year. The past 3 months in a row we are posting less sales than last year, which as I said before is a bit of a surprise. Most of us were expecting sales to increase by about 6% this year over last.If you are a buyer in today's market you are in a great position. Low interest rates, lower home prices and large surplus of homes on the market make this spring a great time to buy. If you are looking for a REALTOR® I'm pretty sure I can suggest a great one :)
I'll post the past 3 months in the blog after this so you can compare.
Kyle Hislop
RE/MAX