Thursday, 14 August 2014
More good news......
as home buying heats up over the summer months!! The British Columbia Real
Estate Association (BCREA) reports that a total of 8,493 residential sales were
recorded by the Multiple Listing Service in July, up 11 per cent from
July 2013. Total sales dollar volume was $4.65 billion, an increase of 13.8 per
cent compared to a year ago. The average MLS residential price in the province
rose to $547,926, up 2.5 per cent from the same month last year. Strong consumer
confidence continues to drive a summer rally of home sales. While sales were up in all but one BC real estate board
area, while here in the Okanagan we have posted a meteoric rise in consumer demand, with the most
home sales on record for the month of July. Great news for those that have been waiting to sell! Overall market conditions remain in
relative balance in BC. However, relatively fewer homes for sale
have created sellers’ market conditions in some communities. Year-to-date,
BC residential sales dollar volume was up 24.5 per cent to $28.5 billion,
compared to the same period last year. Residential unit sales were up 17.2 per
cent to 50,376 units, while the average MLS residential price was up 6.2 per
cent at $565,031.
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