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The British Columbia Real Estate Association (BCREA) reports that a total of 9,162 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August, an increase of 2.4 per cent from the same period last year. Total sales dollar volume was $6.2 billion, up 22 per cent from August 2016. The average MLS® residential price in the province was $678,186, a 19.1 per cent increase from August 2016.

 


“BC home sales in August remained unchanged from July, on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. “Strong economic conditions are underpinning demand. However, rising home prices combined with upward pressure on mortgage interest rates is expected to temper demand over the balance of the year.” 


Year-to-date, BC residential sales dollar volume was down 15.9 per cent to $51.8 billion, when compared with the same period in 2016. Residential unit sales declined 15.0 per cent to 73,267 units, while the average MLS® residential price was down 1.1 per cent to $706,839.

August 2017 Year-to-Date BC Residential Multiple Listing Service® Data by Board  

Board

Dollar Volume (000s)

Unit Sales

Average Price

 

2017

($)

2016

($)

% change

2017

2016

%

change

2017

($)

2016

($)

% change

BC Northern

825,228

770,706

7.1

2,936

2,925

0.4

281,072

263,489

6.7

Chilliwack

1,303,747

1,310,868

-0.5

2,833

3,325

-14.8

460,200

394,246

16.7

Fraser Valley

10,623,789

12,747,816

-16.7

15,230

18,353

-17

697,557

694,590

0.4

 

Greater Vancouver

 

26,458,791

 

33,884,455

 

-21.9

 

25,750

 

32,294

 

-20.3

 

1,027,526

 

1,049,249

 

-2.1

Kamloops

849,285

780,258

8.8

2,340

2,291

2.1

362,942

340,575

6.6

Kootenay

701,653

554,960

26.4

2,272

1,983

14.6

308,826

279,859

10.4

 

Okanagan Mainline

 

3,208,514

 

3,381,822

 

-5.1

 

6,513

 

7,349

 

-11.4

 

492,632

 

460,174

 

7.1

Powell River

84,139

86,413

-2.6

272

303

-10.2

309,333

285,193

8.5

South Okanagan

689,090

648,591

6.2

1,752

1,789

-2.1

393,316

362,544

8.5

Northern Lights

68,222

40,542

68.3

269

163

65

253,615

248,725

2

Vancouver Island

2,981,920

2,983,738

-0.1

6,934

7,828

-11.4

430,043

381,162

12.8

Victoria

3,993,567

4,393,742

-9.1

6,166

7,604

-18.9

647,676

577,820

12.1

Provincial Totals*

51,787,944

61,583,913

-15.9

73,267

86,207

-15

706,839

714,373

-1.1

* Numbers may not add due to rounding 

August 2017 Residential Average Price, Active Listings and Sales-to-Active-Listings Data by Board 

 

 

Board

Average Price

Active Listings

Sales-to-Active-Listings

August 2017 Residential Average Price

($)

August 2016 Residential Average Price

($)

%

change

August 2017 Residential Active Listings

(Units)

August 2016 Residential Active Listings

(Units)

 

% change

August 2017 Residential Sales to Active

Listings (%)

August 2016 Residential Sales to Active

Listings (%)

BC Northern

288,175

264,902

8.8

2,794

2,936

-4.8

13.7

14.9

Chilliwack

477,515

396,958

20.3

894

938

-4.7

39.3

40.5

Fraser Valley

689,700

616,286

11.9

4,480

4,800

-6.7

40.7

33.5

Greater Vancouver

982,454

833,065

17.9

9,470

9,198

3

32.7

27.8

Kamloops

360,288

352,588

2.2

1,278

1,708

-25.2

25.9

21.2

Kootenay

300,824

299,602

0.4

2,302

2,679

-14.1

14.8

12.3

Okanagan Mainline

489,130

464,982

5.2

3,365

3,374

-0.3

26.2

30.2

Powell River

318,950

319,784

-0.3

92

115

-20

32.6

40

South Okanagan

390,611

346,338

12.8

1,106

1,126

-1.8

20.3

22.3

Northern Lights

262,685

242,782

8.2

491

440

11.6

7.9

6.4

Vancouver Island

438,212

384,590

13.9

2,730

2,996

-8.9

35.6

36.3

Victoria

651,023

570,196

14.2

1,398

1,440

-2.9

49.5

58.2

Provincial Totals*

678,186

569,281

19.1

30,400

31,750

-4.3

30.1

28.2

*Numbers may not add due to rounding

August 2017 BC Residential Multiple Listing Service® Data by Board 

 

Board

Dollar Volume (000s)

Units

August 2017 Residential Sales ($)

August 2016 Residential Sales ($)

 

% change

August 2017 Residential Sales

(Units)

August 2016 Residential Sales

(Units)

 

% change

BC Northern

110,371

116,027

-4.9

383

438

-12.6

Chilliwack

167,608

150,844

11.1

351

380

-7.6

Fraser Valley

1,256,634

992,220

26.6

1,822

1,610

13.2

Greater Vancouver

3,042,660

2,127,648

43

3,097

2,554

21.3

Kamloops

119,255

127,637

-6.6

331

362

-8.6

Kootenay

102,280

98,869

3.5

340

330

3

Okanagan Mainline

431,413

474,281

-9

882

1,020

-13.5

Powell River

9,569

14,710

-35

30

46

-34.8

South Okanagan

87,497

86,931

0.7

224

251

-10.8

Northern Lights

10,245

6,798

50.7

39

28

39.3

Vancouver Island

425,504

418,434

1.7

971

1,088

-10.8

Victoria

450,508

477,824

-5.7

692

838

-17.4

Provincial Totals*

6,213,543

5,092,222

22

9,162

8,945

2.4

*Numbers may not add due to rounding

**NOTE: The Northern Lights Real Estate Board (NLREB) became part of the South Okanagan Real Estate Board (SOREB) on May 1, 2011.

BCREA is the professional association for about 22,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients. 

To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods. 

For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada’s real estate boards to ensure maximum exposure of properties listed for sale.

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