Chilliwack Real Estate Market Report

The number of homes sold through the MLS® System of the Chilliwack and District Real Estate Board totaled 159 units in August 2026. This was a substantial decrease of 17.6% from August 2025. Home sales were 12.9% below the five-year average and 34.8% below the 10-year average for the month of August. On a year-to-date basis, home sales totaled 1,364 units over the first eight months of the year. This was a large decline of 17.4% from the same period in 2025. “Sales activity dropped below long-term averages but it was the level of new supply that really went out with the tide in August,” said Rob Lacerte, President of the Chilliwack and District Real Estate Board. “After briefly dipping earlier in the year, home sales have recovered a bit even though they are still trending lower compared to where they normally stand at this time of year. New listings, however, have been on a steady downward trend since the beginning of 2025 as fewer sellers are putting out their listings on the market. Inventories over the past year and a half have actually been rather stable, so the drop in new listings seems to be pointing to sellers who are less aggressively repricing their homes to meet buyers’ price points.” 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 $704,600 in August 2026, a decrease of 5.2% compared to August 2025. The benchmark price for single-family homes was $859,200, a moderate decrease of 5.8% on a year-over-year basis in August. By comparison, the benchmark price for townhouse/row units was $582,900, falling by 5.4% compared to a year earlier, while the benchmark apartment price was $401,000, a modest decline of 2.7% from year-ago levels. The average price of homes sold in August 2026 was $742,897, increasing by 1% from August 2025. The more comprehensive year-to-date average price was $766,774, up only 0.2% from the first eight months of 2025. The dollar value of all home sales in August 2026 was $118.1 million, down sharply by 16.8% from the same month in 2025. The number of new listings saw a substantial decrease of 21.4% from August 2025. There were 334 new residential listings in August 2026. This was the lowest number of new listings added in the month of August in more than a decade. New listings were 18.4% below the five-year average and 18.4% below the 10-year average for the month of August. Active residential listings numbered 1,353 units on the market at the end of August, a small reduction of 1.6% from the end of August 2025. Active listings were 7.3% above the five-year average and 21% above the 10-year average for the month of August. Months of inventory numbered 8.5 at the end of August 2026, up from the 7.1 months recorded at the end of August 2025 and above the long-run average of 5.3 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.