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MLS® Disclaimer for BC: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.
Building Info
Osprey Ridge - 43998 Chilliwack Mountain Rd, Chilliwack, BC V2R 4A1, Canada. Situated at Chilliwack Mountain Road & Grand View Drive in the neighbourhood of Chilliwack Mountain. Osprey Ridge is a new townhouse development by Kingcraft Construction, a collection of 34 townhomes coming soon to the slopes of Chilliwack Mountain. This new multi-family community consists of one duplex and eight quad woodframe buildings accessed from an internal driveway. Offer a choice of lower and upper slope layouts, each with a large rooftop deck offering a panoramic view of the Fraser River. Lower slope residences feature main floor bedrooms and garage, upper floor living area and master bedroom. Upper slope units have a ground floor garage, main floor living area, and upper floor bedrooms. An outdoor common area at the property entrance includes a childrens play area. Enjoy exceptional fishing, excellent hiking, the beaches and water sports at Cultus Lake, or a round of golf on its many year-round courses. Close to Chilliwack Landing Leisure Centre; Cheam Mountain Golf Course; Elements Casino; Eagle Landing shopping & Galaxy Cinemas; Cultus Lake and water park.
The RE/MAX® brand delivers notable advantages – for agents with a RE/MAX brokerage
As the 2024 RE/MAX vs. The Industry report shows, RE/MAX agents are the most productive, meaning they close more transaction sides than other real estate agents, on average. In fact, RE/MAX agents closed an average of 11.8 transaction sides throughout 2023, nearly double that of the competition
But productivity isn’t the only place RE/MAX shines. The annual report, which ranks the results of national, full-service brokerage brands in the U.S., also highlights that the balloon-backed brand dominated in unaided brand awareness at 36.4%.
Canadian mortgage payments went from virtually nothing to very high
Canadian mortgage payments went from virtually nothing to the highest level in well over a decade, inflicting pain on mortgage borrowers. However, the value of homes also surged. In fact, from the rate cuts that sent home prices surging in March 2020 to the end of 2023, the growth rate of home prices outpaced the increase in the average mortgage payment on file at Equifax. This was true in most of Canada’s largest cities, especially in Eastern Canada where the average household’s payment significantly lagged home price growth.
Canadian Home Values Climbed Faster Than Mortgage Payments
B.C. housing market showing signs of marginal improvement
B.C.’s housing market saw a slight improvement in March as home sales nudged higher following a 5.9-per-cent decline in February. Sales increased 0.7 per cent to reach 5,866 unit sales. Home prices rose 1.8 per cent. This said, housing momentum has waned in the last few months as buyer sentiment shifted amid interest rate uncertainty.
MLS home sales increased in most of the province’s real estate board areas. The Greater Vancouver area saw home sales increase by 1.4 per cent following a decline in the previous month. In Chilliwack, home sales increased only slightly—by just 0.5 per cent—while the Kootenays reported a 17.2-per-cent increase. Home sales also rose 9.4 per cent on Vancouver Island, and were unchanged in the Fraser Valley. However, the Okanagan-Mainline and South Okanagan areas recorded sales declines of 8.9 per cent and 19 per cent, respectively.
Lethbridge industrial market strengthens as options limited
Western Canada’s industrial markets are at an inflection point as demand normalizes and the pause that hit new construction last year begins to make itself felt.
Conservative market sentiment is now creating the conditions for stronger performance in 2024, Avison Young reports, with cities like Lethbridge poised to see a landlord’s market for industrial space.
Lethbridge reported a 4.1 per cent vacancy rate in the first quarter, up from 4 per cent at the end of 2023. But space under construction is down more than half from last year to 50,000 square feet, creating potential supply constraints.
That change will have significant implications for cottage owners. Many have seen the value of their properties skyrocket in recent years, which could cause them to kick the tires and sell before the higher tax rules kick in.
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