Average home prices and number of home sales continued to grow in September 2017, according to British Columbia Real Estate Association’s (BCREA) latest figures. Total sales value was $5.8 billion, a 30.2% increased compared to September 2016. The average MLS residential price was $693,774, a 18.5% growth compared to the same month last year.
Last month, 8,340 residential unit sales were recorded by Multiple Listing Service. This is an increase of 9.9% compared to the same period last year.
While home price increased last month, total number of home sales in 2017 is less than 2016’s sales.
Cameron Muir, chief economist for BCREA, says that “”Home sales in 2016 were at record levels for the first six months, so we’re comparing it to that very high level of home sales. We’re not going to break records this year because we broke the all time record in 2016 by a wide margin.”
The total dollar value of B.C. residential sales have decreased by 12.8% so far this year compared to the same period last year.
More, residential unit sales have dropped by 13% to 81,608 so far this year and the average price has decreased by 0.2% to $705,501.
Overall, we’re seeing a cooling in home prices and it’s definitely a perfect time to purchase in a poverty. To see our listings, please visit our Buy page. If you have any inquiries, please send us an email at email@example.com.