Chilliwack & District Real Estate Board

Market Conditions


Single Detached

Months of inventory for single detached homes numbered 4.3 at the end of the first quarter of 2024, up from the 2.8 months recorded at the end of the first quarter of 2023.

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.

Despite a more balanced market, homes spent less time on the market in the first quarter of 2024 than they had a year earlier.

The median number of days on market for single detached homes was 21 in the first quarter of 2024, down slightly from 24 days in the first quarter of 2023.


Townhouse

Months of inventory for townhouse and row units numbered 2.1 at the end of the first quarter of 2024, down from the 2.8 months recorded at the end of the first quarter of 2023.

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.

Despite a tighter market, townhouse and row units spent more time on the market in the first quarter of 2024 than they had a year earlier.

The median number of days on market for townhouse and row units was 16 in the first quarter of 2024, up slightly from 11 days in the first quarter of 2023.



Apartment Units

Months of inventory for apartment units numbered 3.5 at the end of the first quarter of 2024, up from the 2.7 months recorded at the end of the first quarter of 2023.

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.

Despite a more balanced market, apartment units spent less time on the market in the first quarter of 2024 than they had a year earlier.

The median number of days on market for apartment units was 20.5 in the first quarter of 2024, down from 26 days in the first quarter of 2023.



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