Market Momentum Continues into the Fall

For the complete news release, including detailed statistics, click here.

Vancouver,
BC – October 15, 2019
. The British Columbia Real Estate Association
(BCREA) reports that a total of 6,938 residential unit sales were recorded by
the Multiple Listing Service® (MLS®) in September, an increase
of 24 per cent from the same month last year. The average MLS® residential
price in the province was $697,943, an increase of 2.1 per cent from September 2018.
Total sales dollar volume was $4.84 billion, a 26.5 per cent increase from the
same month last year.  

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

MLS® residential active listings in the province were up 4 per cent from September 2018 to 39,117 units and were essentially flat compared to August on a seasonally adjusted basis. Overall market conditions remained in a balanced range with a sales-to-active listings ratio of about 18 per cent.  

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

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For more information, please contact: 

Brendon Ogmundson
Chief Economist
Direct: 604.742.2796
Mobile: 604.505.6793
Email: [email protected]

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