Home Sales in Interior/North Outpace Province
Vancouver, BC – March 15, 2012. The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC declined 9.7 per cent to $3.4 billion in February compared to the same month last year. A total of 5,895 MLS® residential unit sales were recorded over the same period, a decline of 8 per cent. The average MLS® residential price was $576,916 in February, 1.8 per cent lower than in February 2011.
"Sales gains in the interior and the north were offset again in February by less robust demand on the south coast," said Cameron Muir, BCREA Chief Economist. Improving economic conditions in both BC and Alberta are positively influencing consumer demand outside of large urban areas, closing the gap between regional housing markets."
Year-to-date, BC residential sales dollar volume declined 9.3 per cent to $5.5 billion, compared to the same period last year. Residential unit sales dipped 7.1 per cent to 9,799 units, while the average MLS® residential price edged back 2.4 per cent to $558,400 over the same period.
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BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports policies that encourage economic vitality, provide housing opportunities, respect the environment and build 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.
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