BC Home Sales Decline in 2012
Vancouver, BC – January 14, 2013. The British Columbia Real Estate Association (BCREA)
reports that a total of 67,637 residential sales were recorded by the Multiple Listing Service®
(MLS®) in BC during 2012, a decline of 11.8 per cent compared to 2011. Total sales dollar
volume declined 19.1 per cent to $34.8 billion over the same period. The annual average MLS®
residential price in the province was
$514,836 in 2012, down 8.3 per cent from
"A notable pullback in consumer demand in
Vancouver and the Fraser Valley during
2012 was more than enough to offset
increases in home sales in the Okanagan,
Kootenays and BC Northern regions," said
Cameron Muir, BCREA Chief Economist.
"At least half of the 8 per cent decline in
the BC average home price was the result
of fewer luxury homes selling in Vancouver
and fewer overall Vancouver home sales
relative to the rest of the province in 2012."
In December, BC residential sales dollar volume was down 28.6 per cent to $1.5 billion,
compared to December 2011. Residential unit sales declined 26.4 per cent to 3,011 units, while
the average MLS® residential price was down 3 per cent to $498,205 over the same period.
-30- For more information, please contact:
Director of Communications and Public Affairs
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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