The British Columbia Real Estate Association (BCREA) reports that a total of 9,275 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, down 6.3 per cent from the same period last year. Total sales dollar volume was $6.48 billion, down 1.3 per cent from July 2016. The average MLS® residential price in the province was $698,761, a 5.3 per cent increase from the same period last year.
“Strong economic growth, an expanding population base and a lack of supply continue to drive BC home sales and prices this summer,” said Cameron Muir, BCREA Chief Economist. “However, home sales have edged back 4 per cent since May, with active listings beginning to bounce back from a 20-year low,” added Muir. “If these trends continue, it may signal that more balanced market conditions could emerge before the end of the year.”
Year-to-date, BC residential sales dollar volume was down 19.3 per cent to $45.6 billion, when compared with the same period in 2016. Residential unit sales declined 17.0 per cent to 64,107 units, while the average MLS® residential price was down 2.8 per cent to $710,921.
July 2017 Year-to-Date BC Residential Multiple Listing Service® Data by Board
July 2017 Residential Average Price, Active Listings and Sales-to-Active-Listings Data by Board
|
Board |
Average Price |
Active Listings |
Sales-to-Active-Listings |
|||||
|
July 2017 Residential Average Price ($) |
July 2016 Residential Average Price ($) |
% change |
July 2017 Residential Active Listings (Units) |
July 2016 Residential Active Listings (Units) |
% change |
July 2017 Residential Sales to Active Listings (%) |
July 2016 Residential Sales to Activ Listings (%) |
|
|
BC Northern |
281,369 |
267,922 |
5 |
2,779 |
3,020 |
-8 |
13.1 |
14.1 |
|
Chilliwack |
474,222 |
399,891 |
18.6 |
956 |
937 |
2 |
37.1 |
41.3 |
|
Fraser Valley |
722,922 |
661,823 |
9.2 |
4,743 |
4,697 |
1 |
39.3 |
39.8 |
|
Greater Vancouver |
1,029,786 |
1,007,687 |
2.2 |
9,869 |
9,047 |
9.1 |
30.5 |
36.5 |
|
Kamloops |
367,303 |
339,735 |
8.1 |
1,294 |
1,816 |
-28.7 |
26 |
18.1 |
|
Kootenay |
308,407 |
299,867 |
2.8 |
2,324 |
2,720 |
-14.6 |
14.7 |
9.8 |
|
Okanagan Mainline |
504,712 |
476,362 |
6 |
3,363 |
3,514 |
-4.3 |
28.6 |
29.7 |
|
Powell River |
314,543 |
304,175 |
3.4 |
93 |
132 |
-29.5 |
37.6 |
31.8 |
|
South Okanagan |
415,720 |
379,670 |
9.5 |
1,028 |
1,162 |
-11.5 |
23.5 |
21.9 |
|
Northern Lights |
244,513 |
235,643 |
3.8 |
491 |
439 |
11.8 |
6.3 |
6.4 |
|
Vancouver Island |
452,353 |
383,380 |
18 |
2,735 |
3,290 |
-16.9 |
35.9 |
31.3 |
|
Victoria |
644,510 |
580,555 |
11 |
1,414 |
1,515 |
-6.7 |
53.2 |
60.9 |
|
Provincial Totals* |
698,761 |
663,469 |
5.3 |
31,089 |
32,289 |
-3.7 |
29.8 |
30.7 |
*Numbers may not add due to rounding
July 2017 BC Residential Multiple Listing Service® Data by Board
|
Board |
Dollar Volume (000s) |
Units |
||||
|
July 2017 Residential Sales ($) |
July 2016 Residential Sales ($) |
% change |
July 2017 Residential Sales (Units) |
July 2016 Residential Sales (Units) |
% change |
|
|
BC Northern |
102,418 |
114,402 |
-10.5 |
364 |
427 |
-14.8 |
|
Chilliwack |
168,349 |
154,758 |
8.8 |
355 |
387 |
-8.3 |
|
Fraser Valley |
1,346,082 |
1,238,272 |
8.7 |
1,862 |
1,871 |
-0.5 |
|
Greater Vancouver |
3,101,715 |
3,326,376 |
-6.8 |
3,012 |
3,301 |
-8.8 |
|
Kamloops |
123,414 |
111,773 |
10.4 |
336 |
329 |
2.1 |
|
Kootenay |
105,475 |
79,765 |
32.2 |
342 |
266 |
28.6 |
|
Okanagan Mainline |
485,028 |
496,369 |
-2.3 |
961 |
1,042 |
-7.8 |
|
Powell River |
11,009 |
12,775 |
-13.8 |
35 |
42 |
-16.7 |
|
South Okanagan |
100,604 |
96,436 |
4.3 |
242 |
254 |
-4.7 |
|
Northern Lights |
7,580 |
6,598 |
14.9 |
31 |
28 |
10.7 |
|
Vancouver Island |
444,663 |
394,881 |
12.6 |
983 |
1,030 |
-4.6 |
|
Victoria |
484,671 |
535,271 |
-9.5 |
752 |
922 |
-18.4 |
|
Provincial Totals* |
6,481,008 |
6,567,677 |
-1.3 |
9,275 |
9,899 |
-6.3 |
*Numbers may not add due to rounding
**NOTE: The Northern Lights Real Estate Board (NLREB) became part of the South Okanagan Real Estate Board (SOREB) on May 1, 2011.
|
Board |
Dollar Volume (000s) |
Unit Sales |
Average Price |
||||||
|
|
2017 ($) |
2016 ($) |
% change |
2017 |
2016 |
% change |
2017 ($) |
2016 ($) |
% change |
|
BC Northern |
714,857 |
654,679 |
9.2 |
2,553 |
2,487 |
2.7 |
280,007 |
263,240 |
6.4 |
|
Chilliwack |
1,136,139 |
1,160,024 |
-2.1 |
2,482 |
2,945 |
-15.7 |
457,752 |
393,896 |
16.2 |
|
Fraser Valley |
9,367,155 |
11,755,596 |
-20.3 |
13,408 |
16,743 |
-19.9 |
698,624 |
702,120 |
-0.5 |
|
Greater Vancouver |
23,416,131 |
31,756,807 |
-26.3 |
22,653 |
29,740 |
-23.8 |
1,033,688 |
1,067,815 |
-3.2 |
|
Kamloops |
730,029 |
652,621 |
11.9 |
2,009 |
1,929 |
4.1 |
363,380 |
338,321 |
7.4 |
|
Kootenay |
599,373 |
456,092 |
31.4 |
1,932 |
1,653 |
16.9 |
310,234 |
275,918 |
12.4 |
|
Okanagan Mainline |
2,777,101 |
2,907,540 |
-4.5 |
5,631 |
6,329 |
-11 |
493,181 |
459,400 |
7.4 |
|
Powell River |
74,570 |
71,703 |
4 |
242 |
257 |
-5.8 |
308,141 |
279,001 |
10.4 |
|
South Okanagan |
602,312 |
561,660 |
7.2 |
1,530 |
1,538 |
-0.5 |
393,668 |
365,189 |
7.8 |
|
Northern Lights |
57,863 |
33,744 |
71.5 |
230 |
135 |
70.4 |
251,577 |
249,958 |
0.6 |
|
Vancouver Island |
2,556,415 |
2,565,305 |
-0.3 |
5,963 |
6,740 |
-11.5 |
428,713 |
380,609 |
12.6 |
|
Victoria |
3,543,059 |
3,915,918 |
-9.5 |
5,474 |
6,766 |
-19.1 |
647,252 |
578,764 |
11.8 |
|
Provincial Totals* |
45,575,005 |
56,491,690 |
-19.3 |
64,107 |
77,262 |
-17 |
710,921 |
731,170 |
-2.8 |
* Numbers may not add due to rounding
BCREA is the professional association for about 22,000 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.
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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