Sales remain well above year-ago levels in January

Residential sales activity recorded through the MLS® System of the Chilliwack and District Real Estate Board posted another large year-over-year gain in January 2010.

 

According to the Board’s statistics, residential sales totalled 122 units in January 2010, rising 72 per cent year-over-year. This is down from gains of more 100 per cent in the previous three months.

 

The strength in the resale market now, compared to last year’s weak showing, continues to exaggerate year-over-year comparisons,” said Jim Adam, President of the Chilliwack & District Real Estate Board. Because activity began recovering in January last year, year-over-year gains are expected to continue to become more subdued over the coming months.”

 

The residential average price for homes sold in January 2010 was $289,323, down three per cent from year-ago levels.

 

The combined dollar value of home sales in January 2010 totalled $35.3 million, 67 per cent above the dollar volume reported in January 2009.

 

Total sales numbered 137 units in January, up 80 per cent from year-ago levels. The total value of all properties sold in January 2010 rose 85 per cent from the same month in 2009, reaching $40.6 million.

 

The number of new residential listings on the Board’s MLS® System numbered 421 units in January 2010, an increase of 15 per cent from a year earlier.

 

The uptick in new listings slowed the rate of decline in overall supply. There were 1,102 active residential listings on the Board’s MLS® System at the end of January 2010, a decline of 17 per cent from a year earlier. This was the smallest decline since April last year.

 

There were nine months of inventory at the end of January 2010, down from 18.9 months in January 2009. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

 

The Chilliwack and District Real Estate Board is an association of 283 REALTORS® that provides services to and sets standards for members. The Chilliwack and District Real Estate Board serves Chilliwack, Agassiz, Hope, Boston Bar and Harrison.

 

For more information, contact
Jim Adam at 604-793-9900


The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with the Chilliwack and District Real Estate Board. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor the Chilliwack and District Real Estate Board assumes any responsibility or liability. Copyright© The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.
?>