Market Update

Blog by David Valente

<< back to article list

  • +1
BCREA News Release: Vigorous Housing Demand Unabated in August

Vigorous Housing Demand Unabated in August


thumb


Vigorous Housing Demand Unabated in August


Vancouver, BC – September 11, 2015The British Columbia Real Estate Association (BCREA) reports that a total of 8,811 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August, up 20 per cent from the same month last year. Total sales dollar volume was $5.5 billion, a 32.8 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $619,881, up 10.6 per cent from August 2014.


“Housing demand continued at an elevated level in August,” said Cameron Muir, BCREA Chief Economist. “More homes were sold in BC during the first eight months of the year than in the entire 12 months of 2012.” A total of 67,637 residential transactions were recording in 2012, compared to 70,617 year-to-date in August.

“Many BC regions are now exhibiting sellers’ market conditions, with home prices rising well above the overall consumer price index,” added Muir. Eight of the 11 BC real estate boards recorded a higher average home price than a year ago.

The year-to-date, BC residential sales dollar volume increased 35.9 per cent to $44.3 billion, when compared with the same period in 2014. Residential unit sales climbed by 22.4 per cent to 70,617 units, while the average MLS® residential price was up 11.1 per cent to $627,008.

Full PDF Report:
thumb

-

For more information, please contact: 

Cameron Muir Damian Stathonikos
Chief Economist Director of Communications and Public Affairs
Direct: 604.742.2780 Direct: 604.742.2793
Direct: 778.229.1884 Mobile: 778.990.1320
Email: cmuir@bcrea.bc.ca Email: dstathonikos@bcrea.bc.ca

The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 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.

Facebook - Realtor David Valente Vancouver Real Estate Twitter - Realtor David Valente Vancouver Real Estate LinkedIn - Realtor David Valente Vancouver Real Estate Google+ - Realtor David Valente Vancouver Real Estate Email - Realtor David Valente Vancouver Real Estate FeedBurner - Realtor David Valente Vancouver Real Estate

Subscribe to my newsletter

Enter your email address:

Delivered by FeedBurner

Search For Listings

Price: To

David Valente Vancouver Real Estate

A Proud Supporter of

Lions Gate Hospital Foundation.jpg

Royal LePage Sussex Shelter Foundation.jpg

REBGV Market Report & Stats Pack

Download the latest monthly
real estate newsletter

thumb