The British Columbia Real Estate Association (BCREA) reports that a total of 6,743 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in August, a 26.4 per cent decrease from the same month last year.
The average MLS® residential price in BC was $669,776, down 1.2 per cent from August 2017.Total sales dollar volume was $4.5 billion, a 27.3 per cent decline from August 2017.The downturn in housing demand induced by the mortgage stress-test is now largely behind us,” said Cameron Muir, BCREA Chief Economist.The BC housing market isevolving along the same path blazed by Ontario and Alberta, where the initial shock of the mortgage stress-test is already dissipating, leading to increasing home sales.”
Year-to-date, BC residential sales dollar volume was down 19.9 per cent to $41 billion, compared with the same period in 2017. Residential unit sales decreased 21.3 per cent to 57,674 units, while the average MLS® residential price was up 1.7 per cent to $719,064.
Provided by: BCREA
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.