15 August 2012
Home Sales Decline in Vancouver, Surge in Rest of BC
Vancouver, BC – August 14, 2012. The
British Columbia Real Estate Association (BCREA) reports that the
dollar volume of homes sold through the Multiple Listing Service® (MLS®) in the Kootenay area increased 14.4 per cent to $60.6 million in July compared to the same month last
year. A total of 221 MLS® residential unit sales were recorded over the same
period, up 22.1 per cent from July 2011. The average MLS® residential price was
$274,515, 6.3 per cent lower than a year ago.
"While some potential homebuyers in Vancouver are taking a
breather over the summer months, stronger consumer demand continues across the
rest of the province,” said Cameron Muir, BCREA Chief Economist. MLS®
residential unit sales outside of Vancouver were up 11 per cent in July over a
year ago. In contrast, home sales through the Real Estate Board of Greater
Vancouver were down 18 per cent over the same period.
Year-to-date, Kootenay area residential sales dollar volume increased 5.8
per cent to $306 million, compared to the same period last year. Residential
unit sales increased 3.1 per cent to 1,122 units, while the average MLS®
residential price was 2.6 per cent higher at $272,715.
Read the complete report (pdf)