DAN McCARTHY

RE/MAX Central

BLOG

Market Review.

Summer Home Sales Slow to a Simmer.

Vancouver, BC – August 13, 2018. 

The British Columbia Real Estate Association (BCREA) reports that a total of 7,055 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in July, a 23.9 per cent decrease from the same month last year.

The average MLS® residential price in BC was $695,990, down 0.4 per cent from July 2017.

Total sales dollar volume was $4.9 billion, a 24.2 per cent decline from July 2017.“The BC housing market continues to grapple with the sharp decline in affordability caused by tough new mortgage qualification rules,” said Cameron Muir, BCREA Chief Economist. “However, less frenetic housing demand has created more balanced market conditions in many regions, leading to fewer multiple offers and more choice for consumers.”

Year-to-date, BC residential sales dollar volume was down 18.9 per cent to $37 billion, compared with the same period in 2017. Residential unit sales decreased 20.6 per cent to 50,926 units, while the average MLS® residential price was up 2.1 per cent to $725,639.





 
  

I am committed to assisting you during your real estate transaction...
"EVERY STEP of THE WAY"
   
Please contact me at 604.649.1541 or email dan@danmccarthy.ca
 to be of further assistance.

 

Mobile: 604-649-1541
Office: 604-433-2211
Toll Free: 1-866-433-2211
Fax: 604-433-5274
RE/MAX Central
# 1 - 5050 Kingsway
Burnaby BC V5H 4C2