B.C. Real Estate News

British Columbia Real Estate News Stories And Articles

Vancouver, BC – September 12, 2014.  The British Columbia Real Estate Association (BCREA) reports that a total of 7,341 residential sales were recorded by the Multiple Listing Service® (MLS®) in August, up 7 per cent from August 2013. Total sales dollar volume was $4.1 billion, an increase of 12.4 per cent compared to a year ago. The average MLS® residential price in the province rose to $560,318, up 5 per cent from the same month last year.

No Vacation for Home Buyers in August

Click to enlarge

“Consumer demand remained relatively robust in August,” said Cameron Muir, BCREA Chief Economist. “The Okanagan and Chilliwack board areas posted the strongest year-over-year gain of 22 to 25 per cent in unit sales, while Victoria and Vancouver increased around 10 per cent respectively.” Home sales last month were the highest for the month of August since 2009.

“Low mortgage rates, increased net-migration and improving economic conditions continue to underpin housing demand in the province,” added Muir.

Year-to-date, BC residential sales dollar volume was up 22.8 per cent to $28.5 billion, compared to the same period last year. Residential unit sales were up 15.8 per cent to 57,715 units, while the average MLS® residential price was up 6.1 per cent at $564,466.

MLS Residential Sales BC July 2014

Click to enlarge

Home Buying Heats Up Over the Summer Months, BC Real Estate Association.  Vancouver, BC – August 14, 2014.  The British Columbia Real Estate Association (BCREA) reports that a total of 8,493 residential sales were recorded by the Multiple Listing Service® (MLS®) in July, up 11 per cent from July 2013.

Total sales dollar volume was $4.65 billion, an increase of 13.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $547,926, up 2.5 per cent from the same month last year.

“Strong consumer confidence continues to drive a summer rally of home sales,” said Cameron Muir, BCREA Chief Economist. “While sales were up in all but one BC real estate board area, the Okanagan has posted a meteoric rise in consumer demand, with the most home sales on record for the month of July.”

“Overall market conditions remain in relative balance in BC,” added Muir, “however, relatively fewer homes for sale have created sellers’ market conditions in some communities.”

Year-to-date, BC residential sales dollar volume was up 24.5 per cent to $28.5 billion, compared to the same period last year. Residential unit sales were up 17.2 per cent to 50,376 units, while the average MLS® residential price was up 6.2 per cent at $565,031.

BC Residential Home Sales May 2014

Click to enlarge

Strongest May for Home Sales Since 2007, BC Real Estate Association. Vancouver, BC – June 13, 2014.  The British Columbia Real Estate Association (BCREA) reports that a total of 8,729 residential sales were recorded by the Multiple Listing Service® (MLS®) in May, up 13.9 per cent from May 2013. Total sales dollar volume was $4.9 billion, an increase of 20.6 per cent compared to a year ago. The average MLS® residential price in the province rose to $565,233, up 5.8 per cent from the same month last year.

“Consumer demand was noticeably stronger last month, with unit sales posting their highest level for the month of May since 2007,” said Cameron Muir, BCREA Chief Economist. “Rock bottom mortgage rates are inducing many would-be home buyers to enter the market this spring.”

“With most BC markets now in balanced conditions, home prices are up in nine of 11 board areas,” added Muir.

During the first five months of the year, BC residential sales dollar volume was up nearly 26 per cent to $18.8 billion, compared to the same period last year. Residential unit sales were up almost 17 per cent to 32,894 units, while the average MLS® residential price was up 7.7 per cent at $571,648.

MLS Residential Home Sales February March 2014

Click to Enlarge

February Home Sales Edge Lower, BCREA. Vancouver, BC – March 14, 2014.  The British Columbia Real Estate Association (BCREA) reports that a total of 5,578 residential sales were recorded by the Multiple Listing Service® (MLS®) in February, up 24.9 per cent from February 2013. Total sales dollar volume was $3.4 billion, an increase of 43.1 per cent compared to a year ago. The average MLS® residential price in the province rose to $611,688, up 15.4 per cent from the same period last year.

“Consumer demand was much stronger in February compared to a year ago, but edged lower compared to January,” said Cameron Muir, BCREA Chief Economist. “Weak employment growth in 2013 has limited home sales so far this year to long-term average levels.”

“Record low mortgage interest rates and population growth continue to underpin the housing market and most regions of the province are at or near balanced market conditions,” added Muir.

Year-to-date, BC residential sales dollar volume was up 10.1 per cent to $36.7 billion, compared to the same period last year. Residential unit sales were up 6 per cent to 68,510 units, while the average MLS® residential price was up 3.8 per cent at $535,411.

« Older entries