BC Home Sales Turn Higher, Inventories at 20-Year Low, BCREA

Vancouver, BC – May 15, 2017. The British Columbia Real Estate Association (BCREA) that a total of 9,865 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, down 23.9 per cent from the same period last year. Total sales dollar volume was $7.19 billion, down 25.4 per cent from April 2016. The average MLS® residential price in the province was $728,955, a 2 per cent decrease from the same period last year.

MLS Residential Sales May 2017“BC home sales are on an upward trend this spring, led by a sharp increase in consumer demand in the Lower Mainland,” said Cameron Muir, BCREA Chief Economist. The seasonally adjusted annual rate (SAAR) of home sales was over 106,000 units in April, significantly above the five-year SAAR for April of 89,000 units.

The supply of homes for sale declined 17 per cent from April 2016. On a seasonally adjusted basis, active residential listings have declined 50 per cent since 2012 and are now at their lowest level in over 20 years. The imbalance between supply and demand is continuing to drive home prices higher in most regions, further eroding affordability.

Year-to-date, BC residential sales dollar volume was down 31.8 per cent to $21.3 billion, when compared with the same period in 2016. Residential unit sales declined 25.0 per cent to 30,757 units, while the average MLS® residential price was down 9.2 per cent to $692,220.

Kamloops District Real Estate Associations Statistics For April 2017

The Kamloops District Real Estate Association has released the latest Statistics for April 2017. Click on the image below to enlarge or PDF documents included in the links below

Comparative analysis by property type April 2017 Kamloops Real Estate Statistics

Kamloops Real Estate Comparative analysis by property type April 2017

 

 

 

 

 

 

 

 

 

 

 

 

PDF: Comparative Analysis by Property Type April 2017 

MLS Activity April 2017 Kamloops Real Estate Statistics

MLS Activity April 2017 Kamloops Real Estate Statistics

 

 

 

 

 

 

 

 

 

 

 

 

PDF: MLS Activity April 2017

Out of town Sales by Subarea April 2017

Out of town Sales by Subarea April 2017

 

 

 

 

 

 

 

 

 

 

 

Out of town Sales by Subarea April 2017

Out of town Sales by Subarea April 2017

 

 

 

 

 

 

 

 

 

 

 

PDF: Out of town Sales by Subarea April 2017

Sales by subarea April 2017 Kamloops Real Estate Statistics

Sales by subarea April 2017 Kamloops Real Estate Statistics

 

 

 

 

 

 

 

 

 

 

 

 

PDF: Sales by subarea April 2017 

Housing Demand Normalizes as Supply Dwindles, BCREA

Vancouver, BC – April 13, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 9,826 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in March, down 21.8 per cent from the same period last year. Total sales dollar volume was $6.79 billion, down 30 per cent from March 2016. The average MLS® residential price in the province was $690,597, a 10.5 per cent decrease from the same period last year.
BC MLS Active Listings 2017 April“Consumer demand continues to normalize following blockbuster home sales in 2016,” says Brendon Ogmundson, BCREA Economist. “However, the supply of homes available for sale has not recovered and is still declining in many markets around the province.”

Although the average price in BC was down year-over-year due to a shift in the composition of sales away from higher-priced homes in Greater Vancouver, home prices in most markets are being pushed higher due to severe supply constraints. This is particularly true for the Victoria region, which currently has just over one month of inventory for sale, as well as for the apartment and townhouse market in the Lower Mainland.

Year-to-date, BC residential sales dollar volume was down 34.7 per cent to $14.1 billion, when compared with the same period in 2016. Residential unit sales declined 25.5 per cent to 20,893 units, while the average MLS® residential price was down 12.4 per cent to $674,856.

Kamloops District Real Estate Associations Statistics For March 2017

The Kamloops District Real Estate Association has released the latest Statistics for March 2017. Click on the image below to enlarge or PDF documents included in the links below.

Comparative analysis by property type March 2017 Kamloops Real Estate Statistics

Kamloops Real Estate Comparative analysis by property type March 2017

PDF:Comparative analysis by property type March 2017 

MLS Activity March 2017 Kamloops Real Estate Statistics

 Kamloops Real Estate MLS Activity March 2017

PDF: MLS Activity March 2017 

Out of town Sales by Subarea March 2017

Out of town Sales by Subarea March 2017

Out of town Sales by Subarea March 2017

Out of town Sales by Subarea March 2017

PDF: Out of town Sales by Subarea March 2017

Sales by subarea March 2017 Kamloops Real Estate Statistics

Kamloops Real Estate Statistics Sales by Subarea March 2017 

PDF: Sales by subarea March 2017 

Out of town Sales by Subarea March 2017 Quarterly first quarter

Out of town Sales by Subarea March 2017 Quarterly first quarter

PDF: Sales by subarea first quarter 2017

February Home Sales Reflect Typical Consumer Demand, BCREA

Vancouver, BC – March 15, 2017. The British Columbia Real Estate Association (BCREA) reports that a total of 6,580 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, down 31.7 per cent from the same period last year. Total sales dollar volume was $4.53 billion, down 39.7 per cent from February 2016. The average MLS® residential price in the province was $688,117, an 11.7 per cent decrease from the same period last year.

MLS Residential Sales February 2017“Consumer demand has returned to a more typical level over the first two months of the year,” said Cameron Muir, BCREA Chief Economist. “While the home sales have declined nearly 32 per cent from the extraordinary performance of a year ago, last month’s activity reflected the average for the month February since the year 2000.”

“The average MLS® residential price for the province was down nearly 12 per cent from a record $779,419 in February 2016. However, this change is largely the result of a decline in the proportion of provincial sales originating from the Vancouver region. Last month, 37 per cent of BC home sales occurred in the Real Estate Board of Greater Vancouver’s area, compared to 44 per cent in February 2016.

Year-to-date, BC residential sales dollar volume was down 38.5 per cent to $7.3 billion, when compared with the same period in 2016. Residential unit sales declined 28.5 per cent to 11,067 units, while the average MLS® residential price was down 14.1 per cent to $660,943.

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