Chilliwack, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $635,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2025) | 16,200 |
| Previous Population (2020) | 15,500 |
| Population Change | 4.5% |
| Total Private Dwellings | 6,500 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,550.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Chilliwack, British Columbia, is currently experiencing steady growth. With a median house price of $525,000, the market has seen a year-over-year increase of 4%. The apartment sector also shows positive momentum with a median price of $315,000, growing at a slightly lower rate of 2.5% over the same period.
The population of Chilliwack stands at 16,200 and is on an upward trajectory with a strong growth rate of 4.5%. This demographic expansion signals a robust demand for housing in the region. The demand is likely being driven by Chilliwack’s relative affordability compared to the Greater Vancouver area, as well as its appeal to individuals seeking a suburban lifestyle.
Investment Opportunities and Potential
Given the trends in population growth and housing demand, Chilliwack presents significant investment opportunities. The consistent rise in property values suggests that investments in both residential houses and apartments are likely to appreciate over time.
For investors looking at rental properties, the increasing population may lead to higher rental demand, potentially resulting in favorable rental yields. Moreover, the region’s economic development initiatives could attract more businesses and residents, further amplifying investment potential.
Future Market Outlook
The future outlook for Chilliwack’s real estate market appears promising. If current trends persist, investors can expect continued property value appreciation. The city’s strategic location within the Fraser Valley, combined with ongoing infrastructure improvements and community development projects, contributes to an optimistic view of Chilliwack’s market stability and growth potential.
However, it is essential to monitor broader economic conditions such as interest rates and employment levels which can significantly influence buyer affordability and market dynamics. Investors should also consider local policies affecting property taxation and land use that could impact future real estate developments in Chilliwack.
