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The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service(MLS®) residential unit sales in the province rose 8.8 per cent to 5995 units in September compared to the same month last year.
The average residential price increased 6 per cent to $523,568 last month compared to September 2010.
"MLS® home sales edged up 3 per cent in September compared to August on a seasonally adjusted basis," said Cameron Muir, BCREA Chief Economist. "Housing demand last month was bolstered by persistent low mortgage interest rates and a surge in employment."
Despite a modest gain in unit sales, total active residential listings in the province remained elevated in September," added Muir. A total of 55,616 homes were listed on the MLS® in the province at the end of September. BC residential sales dollar volume increased 17.5 per cent to $34.8 billion, compared to the same period last year. Residential unit sales increased 3.2 per cent to 61,127 units, while the average MLS® residential price rose 13.9 per cent to $569,922 over the same period.
For more information, please contact: Cameron Muir Chief Economist Direct: 604.742.2780 Mobile: 778.229.1884 Email: [email protected]
Damian Stathonikos Director, Communications and Public Affairs Direct: 604.742.2793 Mobile: 778.990.1320 Email: [email protected]
For detailed statistical information, contact your local real estate board.
