For immediate release

Year-to-Date Home Sales Eclipse 2013 Annual Total

Vancouver, BC – November 14, 2014. The British Columbia Real Estate Association (BCREA) reports that a total of 7,648 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October, up 14.6 per cent from October 2013. Total sales dollar volume was $4.4 billion, an increase of 22 per cent compared to a year ago. The average MLS® residential price in the province rose to $575,504, up 7.1 per cent from the same month last year.

 

“Consumer demand for housing continues at an elevated level,” said Cameron Muir, BCREA Chief Economist. “There were more homes purchased during the first ten months of the year than during all of 2013”. To the end of October, 73,001 homes have traded hands in the province compared to 72,936 for all of last year."

“Strong year-over-year increases in housing demand were experienced in Chilliwack (up 31 per cent), Victoria (up 21.9 per cent) and the Kootenay (up 19.4 per cent) market areas. Vancouver, Vancouver Island, the Fraser Valley and Okanagan Mainline also posted a marked increase in sales activity last month."

Year-to-date, BC residential sales dollar volume was up 23 per cent to $41.4 billion, compared to the same period last year. Residential unit sales were up 15.8 per cent to 73,001 units, while the average MLS® residential price was up 6.2 per cent at $566,687.

Download the complete report (PDF):
BCREA - Year-to-Date Home Sales Eclipse 2013 Annual Total.pdf

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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

Mobile: 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.