The number of homes sold through the MLS® System of the Chilliwack Real Estate Board totaled 332 units in January 2021. This was more than double the levels from a year earlier, jumping 102.4% from January 2020. This was also a new sales record for the month of January, which had previously never even reached 200.
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| "Home sales in January showed unprecedented strength, not only in the context of setting a new record for the month but also with the atypical rise in the handoff from December to January which normally shows a decline," said Kim Parley, President of the Chilliwack Real Estate Board. "New listings also recorded an increase but weren’t even on the same page as sales activity. As inventories fall to record lows amid the tightest market the area has ever seen, ground-level properties continue to experience double-digit price growth." |
| 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 $574,800, rising 11.4% in January 2021 compared to January 2020. |
| The benchmark price for single-family homes was $661,300, rising 13.7% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $475,900, rising 13.8% compared to a year earlier, while the benchmark apartment price was $293,200, edging up 2% from year-ago levels. |
| The average price of homes sold in January 2021 was a record $632,495, rising 16.3% from January 2020. |
| The dollar value of all home sales in January 2021 was $210 million, more than double the levels from a year earlier and rocketing up 135.5% from the same month in 2020. This was also a new record for the month of January, which had previously never even risen above $100 million. |
| There were 420 new residential listings in January 2021. This was an increase of 16.7% from the end of January 2020. This was the largest number of new listings added in the month of January in more than a decade. |
| Active residential listings numbered 479 units at the end of January. This was a large decline of 39.7% from the end of January 2020. Active listings haven't been this low in the month of January in more than three decades. |
| Months of inventory numbered 1.4 at the end of January 2021, down from the 4.8 months recorded at the end of January 2020 and below the long-run average of 6.6 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. |
| The Chilliwack and District Real Estate Board is an association of 319 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. |