Chilliwack, BC: Home Prices
The benchmark price, month-over-month and year-over-year change, monthly sales, active inventory, and months of inventory for Chilliwack, drawn from the latest monthly release of the Fraser Valley or Greater Vancouver board.
Not published separately
No separate index is published for Chilliwack. Rather than print a neighbouring area’s number in its place, this page leaves it out. The full chart is on Market Insights.
How to read these numbers
The Home Price Index (HPI) benchmark is the industry-standard measure of typical home value in a defined market, mix-adjusted to control for the property types selling that month. Unlike a simple median, the HPI compares like to like: a benchmark detached home in Chilliwack this month versus the same benchmark home last month. That makes it the right metric for month-over-month and year-over-year comparisons.
Months of inventory is active listings divided by average monthly sales over the past 12 months. Under 3 months is a strong sellers’ market, 3 to 5 is balanced and tilting toward sellers, 5 to 8 is balanced, and 8 or more is a buyers’ market. The sales-to-active ratio is the month’s sales divided by its active listings; the Fraser Valley and Greater Vancouver boards both publish it. Both metrics are aggregate; specific property types and price bands can read differently than the composite.
HPI benchmarks are aggregate figures: a specific property in Chilliwack may transact above or below the benchmark depending on lot, condition, age, and the active buyer pool. Use the benchmark as the trend line, not the listing price.
Also on Chilliwack
Buying or selling in Chilliwack?
I’d be glad to represent you as your REALTOR®. You can reach me at bronson@bronsonjob.com.