Vancouver, BC - June 14, 2013. The British Columbia Real Estate Association (BCREA) reports that a total of 7,664 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC curing May, down 0.7 percent from May of 2012. Total sales dollar volume was 2 percent higher at $4.1 billion. The average MLS® residential price in the Province was $534,013 , up 2.7 percent from a year ago.
"BC home sales continued to trend higher in May" said Cameron Muir, BCREA Chief Economist. "In contrast to shlowing demand and modering prices in 2012, the BC housing market is turning around". Rising consumer demand combined with inventory levels that remian in check has moved the Province's largest markets into balanced territory. "Home prices have edged higher over the past three months in BC's large Lower Mainland market" added Muir. The MLS® Home Price Composite Index for the Lower Mainland was up 0.2 percent over the past month, and 1.4 percent over the past three months.
Year-to-date, BC residential sales dollar volume was down 12.2 percent to $14.9 billion, compared to the same period last year. Residential unit sales were down 10.7 percent to 28,140 units, while the average MLS® residential price was down 1.7 percent at $530,936.
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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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