Home sales steady to end year

The number of homes sold via the MLS® System of the Chilliwack and District Real Estate Board in the month of December 2011 came in right in line with figures from a year earlier, but marked an improvement over sales in recent months.

 

Residential sales totalled 120 units in December, unchanged from the same month in 2010. Total sales numbered 136 units in December 2011, down one per cent from a year earlier.

 

“Home sales in December matched what was seen a year earlier, but compared to recent months December marked a significant up-tick in demand,” said Mark Andersen, President of the Chilliwack & District Real Estate Board. “For the year as a whole, 2011 started off running well behind 2010 levels, but the acceleration in demand in the second half of the year brought the annual sales figure for 2011 almost even with the 2010 total, and provides some good momentum heading into 2012 as well.”

 

A total of 2,025 homes traded hands in 2011. This stood just one per cent below the annual sales total in 2010. The 2011 year-to-date figure had been trailing 2010 by double-digits as recently as the summer.

 

The average price of all homes sold in December 2011 was $281,485. This was an increase of seven per cent from December 2010.

 

New residential listings numbered 137 units, a dip of 18 per cent from a year earlier. There were 1,330 active residential listings on the Board’s MLS® System at the end of December, up 13 per cent from December 2010.

 

There were 9.9 months of inventory at the end of December 2011 on a seasonally adjusted basis, down from 11.9 months at the end of November. 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 combined dollar value of home sales in December 2011 totaled $33.8 million, up seven per cent from the dollar volume reported in December 2010. The total value of all properties sold in December was $44.3 million, up three per cent on a year-over-year basis.
 

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
Chilliwack & District Real Estate Board at 604-792-0912


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.