Chilliwack & District Real Estate Board

The number of homes sold through the MLS® System of the Chilliwack and District Real Estate Board totaled 187 units in February 2025. This was a substantial decline of 13.8% from February 2024.

Home sales were 38.8% below the five-year average and 28.8% below the 10-year average for the month of February.

On a year-to-date basis, home sales totaled 357 units over the first two months of the year. This was a significant decrease of 14.2% from the same period in 2024.

“Home sales and new listings both dropped sharply from the previous month as the threat of tariffs loomed ever close in February,” said Emily Vernon, President of the Chilliwack and District Real Estate Board. “Now that we know the tariffs have come to pass, we are expecting there will be some buyers and sellers who move to the sidelines as there is a great deal of uncertainty as to the extent of the impact on our region in terms of shocks to the economy and labour market.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $743,700 in February 2025, essentially unchanged, up just 0.4% compared to February 2024.

The benchmark price for single-family homes was $909,100, a slight gain of 0.6% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $639,100, increasing by 3.5% compared to a year earlier, while the benchmark apartment price was $403,700, a modest decline of 1.3% from year-ago levels.

The average price of homes sold in February 2025 was $769,179, nearly unchanged, down only 0.4% from February 2024.

The more comprehensive year-to-date average price was $733,713, a minor decrease of 1.9% from the first two months of 2024.

The dollar value of all home sales in February 2025 was $143.8 million, a big reduction of 14.2% from the same month in 2024.

The number of new listings saw a substantial decline of 21.5% from February 2024. There were 379 new residential listings in February 2025.

New listings were 24% below the five-year average and 12.6% below the 10-year average for the month of February.

Active residential listings numbered 997 units on the market at the end of February, a gain of 7.3% from the end of February 2024. Active listings haven’t been this high in the month of February in more than five years.

Active listings were 28.5% above the five-year average and 29% above the 10-year average for the month of February.

Months of inventory numbered 5.3 at the end of February 2025, up from the 4.3 months recorded at the end of February 2024 and above the long-run average of 3.5 months for this time of year. 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.