According to the British Columbia Real Estate Association (BCREA), residential unit sales totalled 7,666 as recorded by the Multiple Listing Service® (MLS®) in October. This is an increase of 19.3% from the same month last year. The average MLS® residential price in the province increased 5.1% from October 2018, at $724,045. Total sales were also up by 25.4% at $5.55 billion, from the same month last year.
"Most markets around the province are returning to a more typical level of sales activity," said BCREA Chief Economist Brendon Ogmundson. "That recovery in sales and slower listings activity is putting upward pressure on prices in many markets."
Residential active listings were up 1% on MLS® from September 2018 to 36,567 units, down slightly when compared on a seasonally adjusted basis. Sales-to-listing ratio was recorded at 21%. With sales and listings down, the overall market conditions in the province have tightened.
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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