BC Real Estate Association Reports 2nd Strongest Home Sales On Record – November 2015

Hi All, The BC Real Estate Association has just reported the latest Residential Real Estate Sales numbers for November 2015. Looking at the Central Okanagan in particular, the number of active listings had fallen by 8.9% on this time last year, from 3,917 to 3,567….

Gewurtztraminer Grapevines Oliver BCHi All,

The BC Real Estate Association has just reported the latest Residential Real Estate Sales numbers for November 2015.

Looking at the Central Okanagan in particular, the number of active listings had fallen by 8.9% on this time last year, from 3,917 to 3,567.

This is highlighted in the higher numbers of Sales to Active listings, which have increased from 11.6% to 15.4%.

In November 2015, Residential Real Estate Sales were up 21% on this time last year, with 548 sales, and year to date the number of sales has risen from 7,109 to 7,544, a rise of 6.1%

The average sale price of a home in the Central Okanagan, as at November 2015 is $408,078, which is a 2.2% rise from the $399,467, at this time last year, which is more of a sustainable rise than the numbers of over 10% we are seeing for Greater Vancouver and the Fraser Valley.

Below is a summary of BCREA’s latest report.

The British Columbia Real Estate Association (BCREA) reports that a total of 8,032 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, up 34.5 per cent from the same month last year. Total sales dollar volume was $5.38 billion, up 56.4 per cent compared to the previous year. The average MLS® residential price in the province rose to $668,317, up 16.3 per cent from November 2014. “Housing demand last month was the second strongest ever recorded for the month of November,” said Cameron Muir, BCREA Chief Economist. “You’d need to look all the way back to the MLS Residential Sales BC Nov 2015frenetic market of 1989 to find more homes trading hands in November.“ The largest increase in consumer demand occurred in the Fraser Valley, where home sales climbed over 60 per cent from November 2014. Vancouver and Chilliwack experienced an increase of over 40 per

The British Columbia Real Estate Association (BCREA) reports that a total of 8,032 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, up 34.5 per cent from the same month last year. Total sales dollar volume was $5.38 billion, up 56.4 per cent compared to the previous year. The average MLS® residential price in the province rose to $668,317, up 16.3 per cent from November 2014. “Housing demand last month was the second strongest ever recorded for the month of November,” said Cameron Muir, BCREA Chief Economist. “You’d need to look all the way back to the frenetic market of 1989 to find more homes trading hands in November.“ The largest increase in consumer demand occurred in the Fraser Valley, where home sales climbed over 60 per cent from November 2014. Vancouver and Chilliwack experienced an increase of over 40 per

The British Columbia Real Estate Association (BCREA) reports that a total of 8,032 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, up 34.5 per cent from the same month last year. Total sales dollar volume was $5.38 billion, up 56.4 per cent compared to the previous year. The average MLS® residential price in the province rose to $668,317, up 16.3 per cent from November 2014. “Housing demand last month was the second strongest ever recorded for the month of November,” said Cameron Muir, BCREA Chief Economist. “You’d need to look all the way back to the frenetic market of 1989 to find more homes trading hands in November.“ The largest increase in consumer demand occurred in the Fraser Valley, where home sales climbed over 60 per cent from November 2014. Vancouver and Chilliwack experienced an increase of over 40 per cent, while Kamloops home sales were up 30 per cent. The year-to-date, BC residential sales dollar volume increased 35.4 per cent to $60.7 billion, when compared with the same period in 2014. Residential unit sales climbed by 21.5 per cent to 95,927 units, while the average MLS® residential price was up 11.4 per cent to $632,209.

The British Columbia Real Estate Association (BCREA) reports that a total of 8,032 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, up 34.5 per cent from the same month last year. Total sales dollar volume was $5.38 billion, up 56.4 per cent compared to the previous year. The average MLS® residential price in the province rose to $668,317, up 16.3 per cent from November 2014. “Housing demand last month was the second strongest ever recorded for the month of November,” said Cameron Muir, BCREA Chief Economist. “You’d need to look all the way back to the frenetic market of 1989 to find more homes trading hands in November.“ The largest increase in consumer demand occurred in the Fraser Valley, where home sales climbed over 60 per cent from November 2014. Vancouver and Chilliwack experienced an increase of over 40 per cent, while Kamloops home sales were up 30 per cent. The year-to-date, BC residential sales dollar volume increased 35.4 per cent to $60.7 billion, when compared with the same period in 2014. Residential unit sales climbed by 21.5 per cent to 95,927 units, while the average MLS® residential price was up 11.4 per cent to $632,209.

To read the full report, please go to http://www.bcrea.bc.ca/docs/news-2015/2015-11.pdf

Kind Regards

Trish and Tanis

Tel 250 864 1707



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Trish & Tanis
studio@hiilite.com
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