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BC Home Sales on Upward Trajectory
Vancouver, BC – October 15, 2013.
The British Columbia Real Estate Association (BCREA) reports that a total of 6,498 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during September, up 43.2 per cent from September 2012. Total sales dollar volume was 55.7 per cent higher than a year ago at $3.49 billion. The average MLS® residential price in the province was $537,458, up 8.8 per cent from September 2012.
"Consumer demand for housing in September was the strongest in four years,” said Cameron Muir, BCREA Chief Economist. “After declining for most of 2012, BC home sales have increased now for seven consecutive months."
"While a return to a more normal level of demand is good news for buyers and sellers, relatively weak economic conditions and muted provincial job growth will likely limit continued acceleration of home sales over the next few quarters,” added Muir.
Year-to-date, BC residential sales dollar volume was up 5.7 per cent to $30 billion, compared to the same period last year. Residential unit sales were up 3.1 per cent to 56,347 units, while the average MLS® residential price was up 2.6 per cent at $532,745.