News: Vancouver Real Estate Market

Market keeps momentum into fall

The British Columbia Real Estate Association (BCREA)reports shows residential unit sales reached a total of 6,938 as recorded by the Multiple Listing Service® (MLS®) in September, a 24% increase from the same month last year.

The average MLS® residential price in the province was $697,943, a 2.1% increase from September 2018. Additioanally, total sales dollar volume was $4.84 billion, an incerase of 26.5% from the same month last year.

According to Brendon Ogmundson, the BCREA Chief Economist, “Markets across BC built on momentum from the summer." He also added, “While the year-over-year increase in provincial sales was quite strong, home sales in most areas are simply returning to historically average levels.”

The residential active listings in BC were up by 4% on MLS® from September 2018 to 39,117 units and were essentially flat compared to August on a seasonally adjusted basis. The sales-to-active-listings ratio is around 18% as the overall market conditions remained in a balanced range.

Year-to-date, BC residential sales dollar volume was down 12.4% to $39.7 billion, compared with the same period in 2018. Additionally, residential unit sales were 8.9% lower at 57,773 units, while the average MLS® residential price was down 3.9 % year-to-date at $687,530.


Download BCREA Stats Here

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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.