Wednesday, 15 October 2014

Market Report for September.

The British Columbia Real Estate Association (BCREA) reports that there were a total of 7,636 residential sales were recorded by the MLS in September, up 17.5 per cent from September 2013. Total sales dollar volume was  also up $4.4 billion an increase of 25.8 per cent compared to a year ago. The average residential price in the province rose to $574,641, up 7.1 per cent from the same month last year. 

Consumer demand remains strong in most BC regions.  More homes traded hands last month in BC than any September since 2009 while the Okanagan had its best September in nine years which is great news for us here in the Okanagan. With Population growth, low interest rates and strengthening economic conditions continue to be supportive of housing demand. 

Year-to-date, BC residential sales dollar volume was up 23.2 per cent to $37 billion, compared to the same period last year. Residential unit sales were up 16 per cent to 65,353 units, while the average MLS residential price was up 6.2 per cent at $565,655.

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