Market Momentum Continues into the Fall

For the complete news release, including detailed statistics, click here.

Vancouver, BC - October 15, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 6,938 residential unit sales were recorded by the Multiple Listing Service^® (MLS^®) in September, an increase of 24 per cent from the same month last year. The average MLS^® residential price in the province was $697,943, an increase of 2.1 per cent from September 2018. Total sales dollar volume was $4.84 billion, a 26.5 per cent increase from the same month last year.  

"Markets across BC built on momentum from the summer," said BCREA Chief Economist Brendon Ogmundson. "While the year-over-year increase in provincial sales was quite strong, home sales in most areas are simply returning to historically average levels."

MLS^® residential active listings in the province were up 4 per cent from September 2018 to 39,117 units and were essentially flat compared to August on a seasonally adjusted basis. Overall market conditions remained in a balanced range with a sales-to-active listings ratio of about 18 per cent.  

Year-to-date, BC residential sales dollar volume was down 12.4 per cent to $39.7 billion, compared with the same period in 2018. Residential unit sales were 8.9 per cent lower at 57,773 units, while the average MLS^® residential price was down 3.9 per cent year-to-date at $687,530.    

-30-

For more information, please contact: 

Brendon Ogmundson
Chief Economist
Direct: 604.742.2796
Mobile: 604.505.6793
Email: [email protected]

To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here.