If you ever needed any more proof that Chilliwack is in a flourishing market, here it is. Jack Siemens, president of the Chilliwack and District Real Estate Board says that real estate sales have consistently gone up.
“We’ve seen about a 20 per cent increase in sales roughly, month over month, from 2013,” Siemens says. Like many other cities, Chilliwack’s real estate market had fought tooth and nail since 2008 to stay resilient, and the results of all that have finally begun to turn around. “This is the first year we’ve seen some recover”, Siemens adds. “This bodes well for 2015.”
For homebuyers worried that this might have an adverse effect on home prices, they can rest easy. The increase in sales comes from more units being sold, not an increase in home prices. Additionally, Chilliwack’s biggest strengths in the real estate market comes from its affordability and low interest rates.
For example, the median price of a single-family home will be around $350,000 in Chilliwack, where the same house would be between $450,000 to $480,000.
British Columbians have definitely noticed, as almost a quarter of sales are coming from out of town realtors.
Looking for a place to stay out in Chilliwack? Englewood Courtyard is still offering our $25,000 construction discount! Find out more information here.
To read the full article in the Chilliwack Progress, click here.