Chilliwack & District Real Estate Board Reports May 2026 Market Trends

Chilliwack & District Real Estate Board — May 2026

In May 2026, the Chilliwack and District Real Estate Board recorded 220 home sales, a 22.2% increase from May 2025. The composite benchmark price for homes stands at $736,000, reflecting a year-over-year decline of 3.6%.

Market Analysis

The real estate market in Chilliwack shows signs of recovery, with total sales increasing compared to the previous year, although they remain 14.4% below the five-year average and 25.8% below the 10-year average for May. The number of new listings has decreased significantly, down 20.7% from May 2025, contributing to a tighter supply with active listings at 1,350 units, which is 5.5% lower than last year. The months of inventory has improved to 6.1, down from 7.9 in May 2025, indicating a shift towards a buyer's market as demand begins to stabilize.

Property Type Analysis

The benchmark prices for different property types reflect varying trends. The benchmark price for detached homes is $899,800, while attached/townhouses are at $609,000, and apartments are priced at $416,100. All categories have experienced year-over-year declines, with detached homes seeing a 4.1% drop, townhouses down 3.1%, and apartments decreasing by 3.2%. Despite these declines, the average price of homes sold in May 2026 is $824,371, which is a 6.7% increase from the previous year, suggesting that while prices are generally down, higher-end properties may be driving the average up.

Regional Highlights

The Chilliwack region continues to experience a unique market dynamic, with active listings exceeding the five-year and ten-year averages by 11.5% and 21.9%, respectively. This indicates a growing inventory that could provide more options for buyers, although the decrease in new listings suggests that sellers may be hesitant to enter the market. The overall dollar value of home sales in May reached $181.4 million, a significant increase of 30.4% from last year, highlighting a robust transaction volume despite the price adjustments.

For Buyers

For potential buyers, this may be an opportune time to enter the market, particularly as the number of active listings remains relatively high compared to historical averages. With the months of inventory at 6.1, buyers may find more negotiating power, especially if they are looking at properties that have seen price reductions.

For Sellers

Sellers should be mindful of the current market conditions, particularly the decline in new listings and the overall price adjustments. It may be beneficial to price homes competitively to attract buyers in a market that is still adjusting. Engaging with a knowledgeable real estate professional can help navigate pricing strategies effectively.