The British Columbia Real Estate Association (BCREA) reports that a total of 7,884 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in June, a 32.5 per cent decrease from the same month last year. The average MLS® residential price in BC was $716,326, down 1.3 per cent from June 2017. Total sales dollar volume was $5.6 billion, a 33 per cent decline from June 2017.
“The impact of the B20 stress test is still being felt across the province,” said Brendon Ogmundson, BCREA Deputy Chief Economist. “Lower demand as the result of higher mortgage rates and stringent mortgage qualification rules are bringing most markets around the province back into balanced conditions.”
Although the supply of active listings in the province is on the rise, inventory remains low by historical standards and markets like Vancouver Island and the Okanagan remain undersupplied.
Year-to-date, BC residential sales dollar volume was down 18 per cent to $32 billion, compared with the same period in 2017. Residential unit sales decreased 20 per cent to 43,863 units, while the average MLS® residential price was up 2.4 per cent to $730,492.
June 2018 Residential Average Price, Active Listings and Sales-to-Active-Listings Data by Board
|
Board |
Average Price |
Active Listings |
Sales-to-Active-Listings |
|||||
|
June 2018 Residential Average Price ($) |
June 2017 Residential Average Price ($) |
% change |
June 2018 Residential Active Listings (Units) |
June 2017 Residential Active Listings (Units) |
% change |
June 2018 Residential Sales to Active Listings (%) |
June 2017 Residential Sales to Active Listings (%) |
|
|
BC Northern |
310,569 |
289,833 |
7.2 |
2,338 |
2,729 |
-14.3 |
20.7 |
19.8 |
|
Chilliwack |
529,157 |
488,108 |
8.4 |
1,347 |
956 |
40.9 |
21.5 |
50.4 |
|
Fraser Valley |
753,729 |
745,997 |
1 |
5,880 |
4,255 |
38.2 |
23.5 |
58 |
|
Greater Vancouver |
1,068,559 |
1,053,655 |
1.4 |
12,652 |
9,198 |
37.6 |
19.5 |
43 |
|
Kamloops |
391,667 |
373,670 |
4.8 |
1,198 |
1,284 |
-6.7 |
27.4 |
29 |
|
Kootenay |
339,028 |
332,114 |
2.1 |
1,990 |
2,280 |
-12.7 |
15.8 |
18.2 |
|
Okanagan Mainline |
547,485 |
511,242 |
7.1 |
4,111 |
3,371 |
22 |
19.4 |
30.2 |
|
Powell River |
336,142 |
329,896 |
1.9 |
139 |
105 |
32.4 |
23 |
58.1 |
|
South Okanagan |
442,384 |
416,343 |
6.3 |
1,127 |
972 |
15.9 |
20.2 |
29.6 |
|
Northern Lights |
274,966 |
294,967 |
-6.8 |
462 |
473 |
-2.3 |
9.5 |
8.9 |
|
Vancouver Island |
473,219 |
442,155 |
7 |
2,691 |
2,630 |
2.3 |
31.2 |
40.7 |
|
Victoria |
699,257 |
674,952 |
3.6 |
1,997 |
1,398 |
42.8 |
34 |
68.8 |
|
Provincial Totals* |
716,326 |
725,748 |
-1.3 |
35,932 |
29,651 |
21.2 |
21.9 |
39.4 |
*Numbers may not add due to rounding
Provided by: BCREA
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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