BC HOME SALES POST RECORD YEAR
Blog by Deb Wilson RI (BC) | February 6th, 2017
BC HOME SALES POST RECORD YEAR
Vancouver, BC The British Columbia Real Estate Association (BCREA) reports that a record 112,209 residential units were recorded by the Multiple Listing Serivce (MLS) in 2016, an increase of 9.5 per cent from the previous year. Total sales dollar volume was a record of $ 77.6 billion, up 18.8 per cent from 2015. The average MLS residential price in the province climbed 8.6 per cent to $ 691,144 on an annual basis in 2016.
"Board-based consumer demand driven by strong economic conditions, employment growth, consumer confidence, and an expanding population base pushed home sales to record levels in many BC regional last year", said Cameron Muir, BCREA Chief Economist.