NEW LISTINGS IN CHILLIWACK
The City of Chilliwack, re-incorporated in 1908, is the second largest city in the Fraser Valley Regional District. It is located 100 km east of Vancouver in the upper Fraser Valley. The city borders the Fraser River on the North and the Canada-United States border on the South and is surrounded by scenic mountain peaks known as Mount Cheam and Slesse Mountain.
The name “Chilliwack,” comes from a native aboriginal word that means “quieter water at the head” or “going back up the river.” This makes the name very suiting as Chilliwack comes with two rivers in the area known as Chilliwack Vedder River and the popular Fraser River. It used to have an army base in 1942 that was Chilliwack’s biggest employer and although it closed in 1996, it has not stopped this city from continuing to cultivate.
Today Chilliwack holds a bustling population of over 82,000 with an average age of approximately 36. Commuting is becoming increasingly popular from Chilliwack to Abbotsford, Langley and even Vancouver as people search for more affordable living. Over eighty-two percent of the population in Chilliwack lives in urban communities or suburban neighbourhoods in condos, town homes and houses, while the rest are found residing in rural hillsides and farming areas. Currently Chilliwack has over 900 farms, with dairy farming accounting for over fifty percent of all farming revenues.
While continuing to preserve the historic downtown core, Chilliwack has become a diverse cultured city over the years. The Chilliwack Arts Centre, Chilliwack Academy of Music, Chilliwack Symphony Orchestra and the Chilliwack Cultural Centre are all local institutions. Not to mention, the University of the Fraser Valley campus located on Caen Avenue. Chilliwack also has its own airport, exclusively used by private pilots and commercial air operators, that receives over 70,000 take-offs and landings every year. Although Chilliwack has grown into an outdoor recreation focal point over the years, this spread-out thriving community has always stayed true to its agricultural roots.
CHILLIWACK SALES/ACTIVES RATIO
This graph explains the percentage difference between the number of sales to the number of listings, in any given month.
*Example: If the sales to active listings ratio for May was 25%, that would mean that 25% of the active listings in the month of May were sold.
Although not hard and fast, the rule of thumb, is that anything between 10% – 20% is a balanced market. Which in turn, would mean anything above 20% would be a sellers market, and below 10% would be a buyers market.