Kyle Hislop

  Sometimes you have to call a spade a spade - November was a pretty crappy month for real estate in Chilliwack if you were a home seller.  Home sales were down 37% from this same month last year, which in reality is pretty normal because the last half of 2009 was really strong.  However, seasonally adjusted Chilliwack was only down by 11%, which ended 3 months of consecutive increased sales.  The rest of the province actually faired much better with many cities posting increases which makes me ask the question why was Chilliwack so quiet.  Not really sure there is a definitive answer except to say the cold spell we had, which took up a quarter of the months business days, may have had something to do with it.  I realize the rest of the province endured the same cold weather but I've noticed in years past as soon as the snow comes or really cold days the phone stops ringing.
  What does this mean going forward?  No one can really say, you know the whole crystal ball thing, but it's safe to say we are definitely within a more normal market.  Listings take longer to sell - more time spent with buyers - the importance of a REALTOR® will grow to help facilitate a sale.  Most believe interest rates will start to rise again.  Finally, speculation is that home prices may drop 1% in 2011.
  If you are in the market and trying to sell - price your home well - make sure your home looks awesome - be patient.  If your a buyer in today's market - take your time - make sure you explore all possibilities - draft a strong offer.
  December is usually the slowest month of the year, but maybe because of the slow November we will see a little more action this Christmas.

Kyle Hislop
RE/MAX