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.
