February Home Sales Edge Lower
Vancouver, BC – March 14, 2014. The British Columbia Real Estate Association (BCREA) reports
that a total of 5,578 residential sales were recorded by the Multiple Listing Service® (MLS®) in
February, up 24.9 per cent from February 2013.
Total sales dollar volume was $3.4 billion, an
increase of 43.1 per cent compared to a year ago.
The average MLS® residential price in the province
rose to $611,688, up 15.4 per cent from the same
period last year.
“Consumer demand was much stronger in
February compared to a year ago, but edged
lower compared to January,” said Cameron Muir,
BCREA Chief Economist. “Weak employment
growth in 2013 has limited home sales so far this
year to long-term average levels.”
“Record low mortgage interest rates and population growth continue to underpin the housing
market and most regions of the province are at or near balanced market conditions,” added
Year-to-date, BC residential sales dollar volume was up 40.4 per cent to $5.8 billion, compared to the same period last year. Residential unit sales were up 24.2 per cent to 9,822 units, while the average MLS® residential price was up 13.1 per cent at $591,530.
-30- For more information, please contact:
Director of Communications and Public Affairs
BCREA represents 11 member real estate boards and their approximately 18,500 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.
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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