Home Sales Continue on Upward Trend in September
Vancouver, BC October 15, 2014. The British Columbia Real Estate Association (BCREA) reports that a total of 7,636 residential sales were recorded by the Multiple Listing Service® (MLS®) in September, up 17.5 per cent from September 2013. Total sales dollar volume was $4.4 billion, an increase of 25.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $574,641, up 7.1 per cent from the same month last year.
Consumer demand remains robust in most BC regions, said Cameron Muir, BCREA Chief Economist. More homes traded hands last month in BC than any September since 2009, while the Okanagan had its most robust September in nine years."
Population growth, low interest rates and strengthening economic conditions continue to be supportive of housing demand, added Muir.
Year-to-date, BC residential sales dollar volume was up 23.2 per cent to $37 billion, compared to the same period last year. Residential unit sales were up 16 per cent to 65,353 units, while the average MLS® residential price was up 6.2 per cent at $565,655.