Despite the global pandemic, 2020 was a strong year in the real estate market and the Chilliwack market was no exception. Records were set in 2020 and coming into 2021, January – typically one of the quietest months in real estate – had record-breaking statistics, producing the strongest January sales on record. The Fraser Valley Real Estate Board (FVREB) reported 1,718 sales on its Multiple Listing Service® (MLS®) in January 2021, setting a new record high for the month, 28% higher than the previous record of 1,338 sales set in January 2016.
“Buyers are very motivated right now,” said Chris Shields, President of the Board, “Lending rates are the lowest they’ve ever been, your housing dollar goes further in the Fraser Valley and we’ve seen a societal shift in the last year in how people value their homes. People are asking us to find them more space.”
The average number of days to sell a single-family detached home in the Fraser Valley was 35 days in January 2021,compared to 60 in January 2020, with a benchmark price of $1,106,500, an increase of 15.2% from January 2020.
*This data was extracted from the January 2021 Fraser Valley Real Estate Board Monthly Statistics Package.
Bridal Veil Mountain Resort: Proposed Resort at Our Doorstep
Bridal Veil Mountain Resort is a proposed all-season mountain resort in Chilliwack, potentially moments from the Falls community and golf course. It is estimated that the resort could create more than 1,800 full-time jobs and generate more than 1,000,000 visits each year.