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Record low-supply is keeping market conditions tight in the province.
The British Columbia Real Estate Association reports that 9,164 residential unit sales were recorded by the Multiple Listing Service® in September 2021, a decrease of 19.9 per cent from September 2020.
The average MLS® residential price in BC was $913,471, a 14 per cent increase from $801,241 recorded in September 2020.
“Home sales have settled at levels that are slightly above long-term average,” said BCREA Chief Economist Brendon Ogmundson.
“The main story in all markets continues to be a severe lack of listings supply, particularly in Fraser Valley, Vancouver Island and Interior markets.”
Total active residential listings were down 36.8 per cent year-over-year in September for the province as a whole and were more than 50 per cent below last September’s levels in the Fraser Valley and Victoria.
Year-to-date, BC residential sales dollar volume was up 81.8 per cent to $90.4 billion, compared to the same period in 2020.
Residential unit sales were up 52.4 per cent to 99,182 units, while the average MLS® residential price was up 19.3 per cent to $911,195.
