57-43685 Chilliwack Mountain Rd

It’s a way to measure how busy the real estate market is. Think of it like this: for every 10 homes listed, how many sell? If 2 out of 10 homes sell, the sales-to-active ratio is 20%.

This number helps show whether it’s a buyer’s market, a seller’s market, or somewhere in between. A high ratio (like 40% or more) usually means homes are selling quickly, and prices might go up. A low ratio (under 12%) means homes are sitting on the market longer, and buyers may have more power to negotiate.

In short, this little number gives you a big clue about how hot (or not) the market is.

Sales-to-Active Listing Ratio Market Guide
Sellers Market 21% & Greater  |  Balanced Market 12 to 20%  |  Buyers Market up to 11%

The MLS® HPI Benchmark Prices represent the expected sales price for a typical or “Benchmark” home in a given neighbourhood.

The MLS® HPI considers what averages and medians do not: lot size, age, number of rooms, etc. The most commonly traded set of these attributes describes the composite of the typical or benchmark property type in a given area. Prices paid for homes with these attributes determine benchmark home prices.

Technically, no. You can buy a home without an agent. But in BC, it’s important to understand how representation works before making that decision.

Here, the agent who is hired to sell the property represents the seller. They cannot represent you as the buyer in the same transaction. Their legal duty is to protect the seller’s interests, negotiate on the seller’s behalf, and secure the best possible terms for the seller.

You do have the option to remain unrepresented. If you choose that route, you’ll be responsible for reviewing documents, understanding disclosures, navigating negotiations, and managing deadlines on your own. You would also assume the risks and liabilities tied to the transaction.

Look at the fundamentals.

Check for population growth, new transit, infrastructure upgrades, and planned developments. These often point to future demand. Review the sales-to-active listings ratio to see how strong current buyer demand is. A healthy ratio usually means the area is moving.

Then consider long-term appeal. Walkability, schools, access to jobs, and overall livability all affect resale value.

Strong demand plus lasting lifestyle appeal is usually a good sign.

The 3-day rescission period allows buyers to rescind a contract to purchase residential real property​ up to 3 business days after an offer is accepted. The three-day period starts on the first day after the accepted offer and does not include weekends or recognized holidays. It allows the buyer to walk away from the deal for no reason within three business days. From day 4 onwards, the buyer can only walk away from the agreement if the subjects are not removed. If the offer is rescinded, the buyer must pay the seller 0.25% of the accepted purchase price. The buyer or seller can NOT waive the rescission period. Residential real estate properties located on leased land, leasehold interests in residential real estate property and properties sold under a court order are exempt.

It is important to note that if the offer is conditional with subject clauses to the buyer’s benefit and the buyer does not remove them, the 0.25% fee to the seller DOES NOT APPLY.

The buyer must pay the seller a rescission fee of 0.25% of the purchase price. For a $1,200,000 home, this amounts to $3,000. This fee is mandatory under the Property Buyers Protection Act and is designed to compensate the seller for the time the property was off the market.

Lawyers’ fees for buying a home in BC typically range from $1,400 to $1,600 plus taxes and disbursements, bringing the total cost to around $2,800. Costs may vary based on the complexity of the transaction. It’s best to consult a real estate lawyer for an exact quote.

Closing costs are the additional expenses you must pay when finalizing your home purchase, in addition to the down payment and deposit. They typically include legal fees, land transfer tax, title insurance, appraisal fees, and other charges required to complete the transaction.