Chilliwack & District Real Estate Board

Market Conditions


Single Detached

Months of inventory for single detached homes numbered 1 at the end of the first quarter of 2021, down from the 3.7 months recorded at the end of the first quarter of 2020. This was the lowest level of months of inventory ever recorded in any quarter.

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.

With a tighter market, homes spent less time on the market in the first quarter of 2021 than they had a year earlier.

The median number of days on market for single detached homes was 14 in the first quarter of 2021, down from 44 days in the first quarter of 2020. This was the lowest level of median number of days on market for single detached homes ever recorded in any quarter.


Townhouse

Months of inventory for townhouse and row units numbered 1 at the end of the first quarter of 2021, down from the 2.2 months recorded at the end of the first quarter of 2020. This was the lowest level of months of inventory ever recorded in a first quarter.

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.

With a tighter market, townhouse and row units spent less time on the market in the first quarter of 2021 than they had a year earlier.

The median number of days on market for townhouse and row units was 17 in the first quarter of 2021, down from 35 days in the first quarter of 2020. This was the lowest level of median number of days on market for townhouse and row units ever recorded in any quarter.



Apartment Units

Months of inventory for apartment units numbered 0.9 at the end of the first quarter of 2021, down from the 6.7 months recorded at the end of the first quarter of 2020. This was the lowest level of months of inventory ever recorded in a first quarter.

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.

With a tighter market, apartment units spent less time on the market in the first quarter of 2021 than they had a year earlier.

The median number of days on market for apartment units was 21 in the first quarter of 2021, down from 48 days in the first quarter of 2020.