| December Smashes Home Sales Record and 2015 Enters Record Book |
Vancouver, BC – January 15, 2016. The British Columbia Real Estate Association (BCREA)
reports that a record number of home sales were recorded in the province for the month of
December. A total of 6,590 residential unit sales were recorded by the Multiple Listing Service®
(MLS®) last month, up 29.8 per cent from the same month the previous year. Total sales dollar
volume hit a record $4.62 billion for the month of December, up 55.4 per cent compared to the
The average MLS® residential price in the
province climbed above the $700,000 threshold
for the first time in BC last month, rising 19.7
from December 2014 to $700,943.
"The 2015 housing market finished in dramatic
fashion, with record demand for the month of
December," said Cameron Muir, BCREA Chief
Economist. "BC home sales breeched the 100,000 unit threshold in 2015, and it was only the
third time on record that this high watermark was achieved."
The combination of record home average home prices and near record annual unit sales prices
propelled the dollar volume of MLS® residential to a record $65.3 billion in 2015, up nearly 37
per cent from the previous year. The average annual residential price reached a record
$636,627 last year, up 12 per cent from 2014. A total of 102,517 residential unit sales were
recorded, an increase of 22 per cent compared to 2014. A record 106,310 residential unit sales
were recorded in 2005, while the only other year eclipsing 2015 were 2007 when 102,805 unit
sales were recorded.
For more information, please contact:
|Cameron Muir |
|Chief Economist |
|Direct: 604.742.2780 |
|Mobile: 778.229.1884 |
|Email: [email protected] |
The British Columbia Real Estate Association (BCREA) is the professional association for over 19,000 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.
To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here.