Category: B.C. Real Estate News

The BC Real Estate Association (BCREA) released the latest housing market update for December 2019 which discusses the November 2019 statistics.

For Kamloops the housing market in November we saw a 4.3% decrease in the number of sales year over year. Kamloops did however see an average price increase of 7.7% resulting in an average price of $436,656. At the end of November there were 996 active listings in the Kamloops district which is an increase of 3% over last year. This translates to 4.9 months worth of supply of homes on the market. The Kamloops housing market is ultimately still doing well in comparison to other comparable market areas.

Click here to visit to BCREA’s website. To view the November 2019 market update click here.

Vancouver, BC – December 12, 2019.  The British Columbia Real Estate Association (BCREA) reports that a total of 6,616 residential unit sales were recorded by the Multiple Listing Service^® (MLS^®) in November, an increase of 27.5 per cent from the same month last year. The average MLS^® residential price in the province was $746,939, an increase of 5.5 per cent from November 2018. Total sales dollar volume was $4.94 billion, a 34.4 per cent increase from the same month last year. 

“After several months of strong gains, home sales are now firming around
long-run averages,” said BCREA Chief Economist Brendon Ogmundson. “We
expect 2020 will be a much more typical year for markets compared to the
volatility of recent years.”

MLS^® residential active listings in the province were down 6.6 per cent from November 2018 to 31,310 units, and down for a seventh straight month on a seasonally adjusted basis. Overall market conditions remain balanced with a sales-to-active listings ratio of 21 per cent.

Year-to-date, BC residential sales dollar volume was down 6 per cent to $50.23 billion, compared with the same period in 2018. Residential unit sales were 3.9 per cent lower at 72,106 units, while the average MLS^® residential price was down 2.2 per cent year-to date at $696,574.

Vancouver, BC – November 13, 2019.  The British Columbia Real Estate Association (BCREA) reports that a total of 7,666 residential unit sales were recorded by the Multiple Listing Service^® (MLS^®) in October, an increase of 19.3 per cent from the same month last year. The average MLS^® residential price in the province was $724,045, an increase of 5.1 per cent from October 2018. Total sales dollar volume was $5.55 billion, a 25.4 per cent increase from the same month last year. 

“Most markets around the province are returning to a more typical level of sales activity,” said BCREA Chief Economist Brendon Ogmundson. “That recovery in sales and slower listings activity is putting upward pressure on prices in many markets.”

MLS^® residential active listings in the province were up 1 per cent from September 2018 to 36,567 units, although down slightly when compared on a seasonally adjusted basis. With sales and listings down, overall market conditions in the province have tightened, with a sales-to-active listings ratio of 21 per cent.

Year-to-date, BC residential sales dollar volume was down 9 per cent to $45.3 billion, compared with the same period in 2018. Residential unit sales were 6.2 per cent lower at 65,468 units, while the average MLS^® residential price was down 3 per cent year-to-date at $691,618. 

BCREA’s Website click here.