Chilliwack & District Real Estate Board Reports July 2026 Market Trends

Chilliwack & District Real Estate Board — July 2026

In July 2026, the Chilliwack & District Real Estate Board reports a composite benchmark price of $720,300, reflecting a 4.9% decrease from the previous year. Total sales reached 181 units, marking a significant decline of 14.2% compared to July 2025.

Market Analysis

The Chilliwack real estate market continues to show signs of a buyer's market as inventory levels rise and sales decline. With 430 new listings introduced in July, the total active listings reached 1,408, an increase of 1.6% year-over-year. The months of inventory stands at 7.8, indicating that it would take nearly eight months to sell the current inventory at the current sales pace, which is above the long-run average of 5.2 months for this time of year. This shift suggests that buyers have more options available, but they are exercising caution amid declining prices.

Property Type Analysis

The benchmark prices for various property types reflect the overall downward trend in the market. The benchmark price for detached homes is $881,000, while attached/townhouses are at $593,400, and apartments are priced at $405,200. Each category has experienced year-over-year price declines, with detached homes down 5.4%, townhouses down 4.6%, and apartments down 3.9%. This indicates that while all property types are facing price reductions, the extent varies slightly across categories.

Regional Highlights

Regionally, the number of new listings has decreased significantly, with July 2026 seeing the lowest number of new listings in five years. This trend is compounded by a year-to-date sales total of 1,206 units, reflecting a 17.3% decline from the same period in 2025. Despite the increase in active listings, the overall market activity remains subdued, suggesting a cautious approach from both buyers and sellers in the current economic climate.

For Buyers

Potential buyers are encouraged to take advantage of the increased inventory and the current buyer's market. With prices declining and a variety of options available, buyers should conduct thorough market research and consider negotiating offers to secure favorable terms.

For Sellers

Sellers should be mindful of the current market conditions and the ongoing decline in benchmark prices. It may be beneficial to price properties competitively and be prepared for longer selling times. Engaging with a knowledgeable real estate agent can provide valuable insights into pricing strategies and marketing approaches.