News: Vancouver Real Estate Market

HOME SALES FIRM UP ACROSS BC

According to the British Columbia Real Estate Association (BCREA) report, there were 6,616 residential unit sales recorded by the Multiple Listing Service® (MLS®) in November. This showed an increase of 27.5% from the same month last year. The MLS® recorded an average residential price in the province at $746,939, an increase of 5.5% from November 2018. The total sales volume saw a 34.4% increase to reach $4.94 billion, compared to 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."

There was a 6.6% decrease in residential active listings in the province on MLS® from November 2018 to 31,310 units, and down for a seventh straight month on a seasonally adjusted basis. Sales-to-active listings ratio was recorded at 21%, with the overall market condition remaining balanced.

Year-to-date, BC residential sales dollar volume was down 6% to $50.23 billion, compared with the same period in 2018. Residential unit sales was recorded at 72,106, a 3.9% decrease, while the average MLS® residential price was at $696,574, down 2.2% year-to-date.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.