The British
Columbia Real Estate Association reports that a total of 8,032 residential unit
sales were recorded by the Multiple Listing Service 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. You need to look all the way back to the 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.
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