From 2012 to 2013, residential real estate sales in British Columbia climbed 7.8 per cent.
According to the latest data from the British Columbia Real Estate Association (BCREA), 72,936 home sales were recorded by the Multiple Listing Service last year, 3.4 per cent below the five-year average of 75,400 units, and 16.3 per cent below the 10-year average of 84,800 units. (Tweet this stat)
BCREA says the total sales dollar volume in 2013 was $39.2 billion, an increase of 12.6 per cent compared to 2012. The average residential price in the province rose to $537,414 last year, up 4.4 per cent from 2012.
“After declining nearly 12 per cent in 2012, home sales posted steady growth through last year,” BCREA chief economist Cameron Muir said. “Greater Vancouver, Kamloops and Okanagan Mainline board areas posted the most significant changes, with home sales rising between 12.5 and 14 per cent. Stronger consumer demand combined with fewer homes listed for sale improved market conditions in most regions last year.”
In December 2013, BC residential sales rose 47 per cent to 4,426 units, compared to December 2012. Total dollar volume was 67.7 per cent higher at $2.5 billion, while the average price rose 14.1 per cent to $568,416. (Tweet this stat)
For all the year-end and December data, the full BCREA report can be seen here.