Sales Trend Slightly Lower in August.
Vancouver, BC – September 13, 2023.
The British Columbia Real Estate Association (BCREA) reports that a total of 6,608 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in August 2023, an increase of 15.7 per cent from August 2022.
The average MLS® residential price in BC was $958,424, up 5.2 per cent compared to August 2022. The total sales dollar volume was $6.3 billion, representing a 21.7 per cent increase from the same time last year.
Home sales are starting to settle back into a trend of below-normal activity following an unexpected surge in the spring,” said BCREA Chief Economist Brendon Ogmundson. “However, sales are in a much stronger place than expected given current mortgage qualifying difficulty.”
Active listings in the province were flat month-over-month at just over 31,000 total listings and up slightly year-over-year.
Year-to-date BC residential sales dollar volume was down 17.4 per cent to $52.7 billion, compared with the same period in 2022. Residential unit sales were down 13.4 per cent to 54,126 units, while the average MLS® residential price was down 4.6 per cent to $973,011.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.