BC Home Sales Trend Higher in February
|The British Columbia Real Estate Association (BCREA) reports that a total of 5,741 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February 2020, an increase of 26.3 per cent from February 2019. The average MLS® residential price in BC was $758,863, a 12 per cent increase from $677,681 recorded the previous year. Total sales dollar volume in February was $4.4 billion, a 41.4 per cent increase over 2019.
“Housing markets in BC continued to trend near long-term average levels in February,” said BCREA Chief Economist Brendon Ogmundson. “Recent declines in mortgage rates and favourable changes to mortgage qualifying rules may provide a boost to home sales heading into the spring, although there is significant economic uncertainty lingering over the outlook.”
Total MLS® residential active listings fell 8.4 per cent to 28,303 units compared to the same month last year. The ratio of sales to active residential listings increased 20.3 per cent from 14.7 per cent last February.
Year-to-date, BC residential sales dollar volume was up 38.4 per cent to $7.6 billion, compared with the same period in 2019. Residential unit sales increased 24.8 per cent to 10,135 units, while the average MLS® residential price was up 10.9 per cent to $745,501.
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.