BC Home Sales Remain Slow While Active Listings Plateau.
Vancouver, BC – November 14, 2022.
The British Columbia Real Estate Association (BCREA) reports that a total of 5,242 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October 2022, a decrease of 45.5 per cent from October 2021.
The average MLS® residential price in BC was $932,979, a 3.1 per cent decrease from $963,011 recorded in October 2021. Total sales dollar volume was $4.9 billion, a 47.2 per cent decline from the same time last year.
“Sales activity remains slow across the province and inventories appear to be plateauing,” said BCREA Chief Economist Brendon Ogmundson. “While prices have fallen from peak levels reached in early 2022, average prices have recently leveled off.”
Year-to-date, BC residential sales dollar volume was down 26.3 per cent from the same period in 2021 to $73.3 billion. Residential unit sales were down 33 per cent to 72,824 units, while the average MLS® residential price was up 10 per cent to $1.01 million.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.