DAN McCARTHY

RE/MAX CREST

BLOG

RSS

Market Review.

Provincial Housing Market Relatively Calm Heading into Spring.

Vancouver, BC –  March 13, 2024.


The British Columbia Real Estate Association (BCREA) reports that a total of 5,497 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in February 2024, an increase of 15.3 per cent from February 2023.


The average MLS® residential price in BC in February 2024 was up 4.7 per cent at $987,798 compared to an average price of $943,574 in February 2023. The total sales dollar volume was$5.4 billion, an increase of 20.7 per cent from the same time in the previous year.


"The BC housing market is in a period of relative calm entering the spring," said BCREA Chief Economist Brendon Ogmundson. "While activity is picking up, home sales remain below normal, and home prices have been essentially flat since last summer."

Active listings are up 20.3 per cent over last year as a result of slower sales but also a recovery in new listings in January and February following a very slow year for listings activity in 2023. Last year was the slowest pace of new listing activity since 2005.








  

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 Crest Realty
# 1 - 5050 Kingsway
Burnaby BC V5H 4C2