Vancouver

Hottest April in a Decade for Home Sales in BC: BCREA

Sales dollar volume across province up 45.5 per cent year over year and house prices up 13 per cent, says association

By
REW.ca
May 14, 2015






Tulips in Vancouver sunny day

A total of 9,952 residential unit sales were recorded by the Multiple Listing Service in April, up 28.7 per cent from the same month last year, according to British Columbia Real Estate Association (BCREA) data released May 14.

Total sales dollar volume was $6.3 billion, a 45.5 per cent increase compared with April 2014. The average MLS® residential price in the province rose to $634,744, a 13 per cent increase since last April.

“Last month was the strongest April for home sales in a decade,” said Cameron Muir, BCREA chief economist. “The elevated level of buying activity this spring is now expected to push 2015 home sales to their highest level since 2007.”

“Consumers are taking full advantage of rock-bottom interest rates and are demonstrating significant confidence in the housing market.

“However, dwindling inventories combined with competition for detached homes in the province’s large urban markets is pushing home prices higher.”

During the first four months of 2015, BC residential sales dollar volume rose 37.1 per cent to $19 billion, compared with the same period in 2014. Residential unit sales increased by 24.5 per cent to 30,091 units, and the average MLS® residential price rose 10.1 per cent to $631,860.


Joannah Connolly has been editor and content manager of REW.ca since May 2014. Joannah has appeared on major local TV outlets as a real estate commentator, and has moderated and spoken on several industry panels. During this time, she also spent two years hosting the Real Estate Therapist radio show on Roundhouse Radio 98.3FM. A dual Canadian-British citizen, Joannah has 20 years of journalism experience in Vancouver and London, with a prior background in construction, architecture and business media.
© Copyright 2017

Comments

REW.ca welcomes your opinions and comments. We do not allow personal attacks, offensive language, unsubstantiated allegations or self-promotional content, including promotional website links. We reserve the right to unpublish comments, to edit them for length, style, legality and taste, and to reproduce them in print or online. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Email to a Friend

Close