BC Home Sales Continue at Slower Pace in September
BC Home Sales Continue at Slower Pace in September
BCREA
The British Columbia Real Estate Association (BCREA) reports that a total of 5,573 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in September, a 33.2 per cent decrease from the same month last year. The average MLS® residential price in BC was $685,749, down 1.1 per cent from September 2017. Total sales dollar volume was $3.8 billion, a 34 per cent decline from September 2017.
“BC home sales continue at a slower pace compared to last year,” said Cameron Muir, BCREA Chief Economist. “The impact on affordability and purchasing power caused by the mortgage stress test and moderately higher interest rates are negating the effect of the extraordinarily strong performance of BC’s economy over the last five years.”
Year-to-date, BC residential sales dollar volume was down
21.3 per cent to $45 billion, compared with the same period in 2017. Residential unit sales decreased 22.5 per cent to 63,251 units, while the average MLS® residential price was up 1.5 per cent to $716,096.
For more information, please contact:
Cameron Muir Chief Economist
Direct: 604.742.2780
Mobile: 778.229.1884
Email: [email protected]
September 2018 Residential Average Price, Active Listings and
Sales-to-Active-Listings Data by Board
|
Board |
Average Price |
Active Listings |
Sales-to-Active-Listings |
|||||
|
September 2018 Residential Average Price ($) |
September 2017 Residential Average Price ($) |
% change |
September 2018 Residential Active Listings (Units) |
September 2017 Residential Active Listings (Units) |
% change |
September 2018 Residential Sales to Active Listings (%) |
September 2017 Residential Sales to Active Listings (%) |
|
|
BC Northern |
286,886 |
262,345 |
9.4 |
2,283 |
2,541 |
-10.2 |
16.3 |
16.1 |
|
Chilliwack |
519,013 |
475,293 |
9.2 |
1,464 |
959 |
52.7 |
11.1 |
32.2 |
|
Fraser Valley |
723,740 |
704,276 |
2.8 |
6,447 |
4,635 |
39.1 |
15.2 |
33.7 |
|
Greater Vancouver |
1,029,401 |
1,013,421 |
1.6 |
13,757 |
10,131 |
35.8 |
11.9 |
28.4 |
|
Kamloops |
399,445 |
381,896 |
4.6 |
1,156 |
1,169 |
-1.1 |
20.2 |
25.8 |
|
Kootenay |
326,586 |
312,389 |
4.5 |
1,891 |
2,137 |
-11.5 |
13.9 |
13.9 |
|
Okanagan Mainline |
534,943 |
496,433 |
7.8 |
4,172 |
3,238 |
28.8 |
14 |
22.9 |
|
Powell River |
384,650 |
323,330 |
19 |
118 |
101 |
16.8 |
29.7 |
36.6 |
|
South Okanagan |
361,066 |
422,295 |
-14.5 |
1,282 |
1,039 |
23.4 |
9 |
21.6 |
|
Northern Lights |
259,547 |
229,145 |
13.3 |
484 |
452 |
7.1 |
6.2 |
8.4 |
|
Vancouver Island |
492,890 |
442,292 |
11.4 |
2,529 |
2,450 |
3.2 |
26.2 |
38.2 |
|
Victoria |
713,850 |
673,645 |
6 |
2,024 |
1,459 |
38.7 |
25 |
41.5 |
|
Provincial Totals* |
685,749 |
693,655 |
-1.1 |
37,607 |
30,311 |
24.1 |
14.8 |
27.5 |
*Numbers may not add due to rounding
September 2018 BC Residential Multiple Listing Service® Data by Board
|
Board |
Dollar Volume (000s) |
Units |
||||
|
September 2018 Residential Sales ($) |
September 2017 Residential Sales ($) |
% change |
September 2018 Residential Sales (Units) |
September 2017 Residential Sales (Units) |
% change |
|
|
BC Northern |
106,435 |
107,561 |
-1 |
371 |
410 |
-9.5 |
|
Chilliwack |
84,080 |
146,866 |
-42.8 |
162 |
309 |
-47.6 |
|
Fraser Valley |
707,094 |
1,098,671 |
-35.6 |
977 |
1,560 |
-37.4 |
|
Greater Vancouver |
1,682,040 |
2,919,665 |
-42.4 |
1,634 |
2,881 |
-43.3 |
|
Kamloops |
93,470 |
115,333 |
-19 |
234 |
302 |
-22.5 |
|
Kootenay |
85,565 |
93,092 |
-8.1 |
262 |
298 |
-12.1 |
|
Okanagan Mainline |
312,941 |
367,360 |
-14.8 |
585 |
740 |
-20.9 |
|
Powell River |
13,463 |
11,963 |
12.5 |
35 |
37 |
-5.4 |
|
South Okanagan |
41,523 |
94,594 |
-56.1 |
115 |
224 |
-48.7 |
|
Northern Lights |
7,786 |
8,708 |
-10.6 |
30 |
38 |
-21.1 |
|
Vancouver Island |
326,786 |
414,428 |
-21.1 |
663 |
937 |
-29.2 |
|
Victoria |
360,494 |
408,229 |
-11.7 |
505 |
606 |
-16.7 |
|
Provincial Totals* |
3,821,678 |
5,786,469 |
-34 |
5,573 |
8,342 |
-33.2 |
*Numbers may not add due to rounding
**NOTE: The Northern Lights Real Estate Board (NLREB) became part of the South Okanagan Real Estate Board (SOREB) on May 1, 2011.
BC Home Sales Continue at Slower Pace in September
September 2018 Year-to-Date BC Residential Multiple Listing Service® Data by Board
|
Board |
Dollar Volume (000s) |
Unit Sales |
Average Price |
||||||
|
|
2018 ($) |
2017 ($) |
% change |
2018 |
2017 |
% change |
2018 ($) |
2017 ($) |
% change |
|
BC Northern |
993,533 |
932,788 |
6.5 |
3,382 |
3,346 |
1.1 |
293,771 |
278,777 |
5.4 |
|
Chilliwack |
1,205,213 |
1,450,613 |
-16.9 |
2,317 |
3,142 |
-26.3 |
520,161 |
461,685 |
12.7 |
|
Fraser Valley |
9,039,172 |
11,722,461 |
-22.9 |
12,018 |
16,790 |
-28.4 |
752,136 |
698,181 |
7.7 |
|
Greater Vancouver |
21,364,665 |
29,378,456 |
-27.3 |
20,329 |
28,631 |
-29 |
1,050,945 |
1,026,107 |
2.4 |
|
Kamloops |
937,046 |
964,618 |
-2.9 |
2,417 |
2,642 |
-8.5 |
387,690 |
365,109 |
6.2 |
|
Kootenay |
787,921 |
794,745 |
-0.9 |
2,459 |
2,570 |
-4.3 |
320,424 |
309,239 |
3.6 |
|
Okanagan Mainline |
3,168,132 |
3,575,873 |
-11.4 |
5,978 |
7,253 |
-17.6 |
529,965 |
493,020 |
7.5 |
|
Powell River |
100,374 |
96,103 |
4.4 |
271 |
309 |
-12.3 |
370,383 |
311,013 |
19.1 |
|
South Okanagan |
657,144 |
782,248 |
-16 |
1,572 |
1,970 |
-20.2 |
418,030 |
397,080 |
5.3 |
|
Northern Lights |
75,360 |
76,843 |
-1.9 |
296 |
307 |
-3.6 |
254,596 |
250,303 |
1.7 |
|
Vancouver Island |
3,170,162 |
3,396,348 |
-6.7 |
6,799 |
7,871 |
-13.6 |
466,269 |
431,501 |
8.1 |
|
Victoria |
3,795,067 |
4,401,797 |
-13.8 |
5,413 |
6,772 |
-20.1 |
701,102 |
650,000 |
7.9 |
|
Provincial Totals* |
45,293,783 |
57,572,888 |
-21.3 |
63,251 |
81,603 |
-22.5 |
716,096 |
705,524 |
1.5 |
* Numbers may not add due to rounding
BCREA is the professional association for about 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.
For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada’s real estate boards to ensure maximum exposure of properties listed for sale.