BC Home Sales Off to a Good Start in 2016

 

 

BCREA reports that a total of 5,831 residential unit sales were recorded by MLS® in January 2016, up 33.2 per cent from a year ago. Total sales dollar volume was $4.39 billion in January, up 69.1 per cent compared to the previous year.


The average MLS® residential price in the province was up 26.9 per cent year-over-year, to $752,906.


 "Heightened demand is being met with the lowest level of supply in a decade, resulting in increased pressure on prices in much of the province."


The housing market has seen a blistering start to 2016, with housing demand supported by low mortgage rates and rising employment and wage growth in the province.


However, MLS® residential sales are forecast to edge lower this year. Total MLS® sales last year were the third highest on record at 102,517. A record 106,310 residential unit sales were recorded in 2005, while the only other year eclipsing 2016 were 2007 when 102,805 unit sales were recorded.

 


 

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.