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Market News & Blog Updates

Here is what's happening in Vancouver's housing market.

Housing Market Ends Year in Balanced Conditions

Vancouver, BC – December 12, 2014The British Columbia Real Estate Association (BCREA)

reports that a total of 5,972 residential unit sales were recorded by the Multiple Listing Service®
(MLS®) in November, up 8.8 per cent from November 2013. Total sales dollar volume was $3.4
illion, an increase of 12.1 per cent compared to a year ago. The average MLS® residential price
in the province rose to $574,694, up 3.1 per cent from the same month last year.

 

“BC home sales were robust in November,” said Cameron Muir, BCREA Chief Economist. “Improving economic conditions, strong consumer confidence and persistently low mortgage interest rates are providing a solid foundation for elevated consumer demand."

“Market conditions have improved province wide, with most regional markets now in the mid to high range of a balanced market,” added Muir.

Year-to-date, BC residential sales dollar volume was up 22.1 per cent to $44.8 billion, compared to the same period last year. Residential unit sales were up 15.3 per cent to 78,973 units, while the average MLS® residential price was up 6.0 per cent at $567,292.

 

 

Source: BCREA Dec 2014

Housing Market Ends Year in Balanced Conditions

Vancouver, BC – December 12, 2014The British Columbia Real Estate Association (BCREA)

reports that a total of 5,972 residential unit sales were recorded by the Multiple Listing Service®
(MLS®) in November, up 8.8 per cent from November 2013. Total sales dollar volume was $3.4
illion, an increase of 12.1 per cent compared to a year ago. The average MLS® residential price
in the province rose to $574,694, up 3.1 per cent from the same month last year.

 

“BC home sales were robust in November,” said Cameron Muir, BCREA Chief Economist. “Improving economic conditions, strong consumer confidence and persistently low mortgage interest rates are providing a solid foundation for elevated consumer demand."

“Market conditions have improved province wide, with most regional markets now in the mid to high range of a balanced market,” added Muir.

Year-to-date, BC residential sales dollar volume was up 22.1 per cent to $44.8 billion, compared to the same period last year. Residential unit sales were up 15.3 per cent to 78,973 units, while the average MLS® residential price was up 6.0 per cent at $567,292.

 

 

Source: BCREA Dec 2014

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.