Vancouver, BC – October 14, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 11,368 residential unit sales were recorded by the Multiple Listing Service (MLS) in September 2020, an increase of 63.3 percent from September 2019. The average MLS residential price in BC set a monthly record of $803,210, a 15.3 percent increase from $696,647 recorded the previous year. Total sales dollar volume in August was $9.1 billion, an 88.3 percent increase over 2019.
“The provincial housing market had a record-setting September,” said BCREA Chief Economist Brendon Ogmundson. “Both total sales and average prices were the highest ever for the month of September as pent-up demand from the spring pushes into the fall.”“Average prices are skewing higher as demand for space during the pandemic drives sales of single-detached homes,” added Ogmundson. Total provincial active listings are still down about 12 percent year-over-year, with some markets even more under-supplied as the pandemic continues to keep listings low.Year-to-date, BC residential sales dollar volume was up 25.1 percent to $49.7 billion, compared with the same period in 2019. Residential unit sales were up 12.5 percent to 65,023 units, while the average MLS residential price was up 11.2 percent to $764,298.
For the complete news release, including detailed statistics, click here.
For immediate release
For more information, please contact:
| Brendon OgmundsonChief Economist604.742.2796[email protected] |
BCREA is the professional association for more than 23,000 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.
