Cory O'Brien

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BC Home Sales Tick Higher

BCREA has released some interesting statistics.  It appears as though if you were waiting for prices to come down... The wait is over.  The average price of a home in BC rose 2 percent since last month.   Looks like the time to buy is now!



Vancouver, BC – April 15, 2013.

TheBritish Columbia Real Estate Association (BCREA) reports that a total of 5,661 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during March, up 6.6 per cent from February on a seasonally adjusted basis, but down 17.7 per cent compared to March 2012.

 

Total sales dollar volume was down 18.5 per cent to $3.06 billion. The average MLS® residential price in the province was $540,662, up 2 per cent from February, but down 1 per cent from a year ago.

 

"BC home sales in March posted the largest seasonally adjusted month-to-month increase since January 2011,” said Cameron Muir, BCREA Chief Economist. “However, homes sale per capita continue to remain near a cyclical low, suggesting that pent-up demand may be beginning to grow in the housing market."

 

Year-to-date, BC residential sales dollar volume declined 22.1 per cent to $7.2 billion, compared to the same period last year. Residential unit sales dipped 18.8 per cent to 13,572 units, while the average MLS® residential price was down 4.0 per cent at $530,435.

 

Contact me if you are thinking of buying or selling.  I am always happy to help!

 

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