The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 63 per cent to 5,955 units in February compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 13 per cent compared to January 2010.
"Home sales continued to moderate in February after the record pace of the fourth quarter." said Cameron Muir, BCREA Chief Economist. "However, February’s performance was better than expected considering many households were preoccupied with Olympic gold."
The BC residential sales dollar volume increased 91 per cent to $2.96 billion in February compared to the same period last year. The average MLS® residential price climbed 17 per cent to $497,807 over the same period.
"Low mortgage interest rates are continuing to underpin consumer demand and fuel first-time homebuyer activity," added Muir. "Improving economic conditions are expected to bolster consumer confidence over the coming months."
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.
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