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...