B.C. reported the strongest sales of residential property in December in 20 years, according to Multiple Listing Service data released Tuesday by the B.C. Real Estate Association.
(Source: Daily Business News)
Total sales rose 132% to 5,703 units in December compared with sales in December 2008. It is the most number of homes sold during the holiday month since December 1989 when 6,014 units were sold.
Every major real estate market in the province reported unit sales growth with the number of units sold rising the most in Greater Vancouver (+176%), followed by Kamloops (167%), the Fraser Valley (143%), Chilliwack (124%), South Okanagan (116%), Vancouver Island (102%), Okanagan Mainline (84%), Victoria (82.5%), Kootenay (68%) and Northern BC (65%).
B.C. reported sales growth last month despite declines in the number of active MLS listings across the province. Markets with the steepest declines in the number of units on the market include Victoria (-40%), Greater Vancouver (-39%), Chilliwack (-39%), the Fraser Valley (-37%), Vancouver Island (-23).
Read the full article “December real estate sales hit 20-year record” in BIV (January 13, 2010).