News: Vancouver Real Estate Market

HOUSING MARKETS FLAT IN 2019

The Multiple Listing Service® (MLS®) recorded a total of 77,331 residential unit sales in 2019, a decrease of 1.5% from the 78,516 units sold in 2018 as reported by the British Columbia Real Estate Association (BCREA). Furthermore, the total sales dollar volume was $54.2 billion, a 3% decrease from 2018. The previous year saw an average annual MLS® residential price at $711,564, when compared to $700,460, a decrease of 1.6%.

According to the BCREA Cheif Economist Brendon Ogmundson, "Housing markets across the province staged a strong recovery in the second half of 2019." He went on to add that "this sets up 2020 to be a much more typical year than what markets have experienced recently."

The MLS® residential unit sales went up by 48.9% from December 2018 to reach a total of 5,218. The average MLS® residential price also saw an increase of 8.7% from December 2018 and was recorded at $755,165. In addition, the total sales dollar volume was $3.9 billion, a 61.8% increase year-over-year.

There is a 10.6% decrease in the number of active residential listings to 24,691 units in December. The total inventory of homes for sale have decreased more than 10% on a year-over-year basis for two straight months.


Click here for full package

Comments:
No comments

Post Your Comment:

Blogs
Posts By Date
Categories
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.