The B.C. Actual Property Affiliation says in an announcement that the 4,221 residential gross sales in January have been up 6.4% from January 2024, though unit gross sales have been 12% beneath the 10-year common.
The affiliation’s chief economist Brendon Ogmundson says a rise in each gross sales and listings could foreshadow a stronger 12 months, with a warning that world uncertainties would possibly set off increased or decrease charges from the Financial institution of Canada.
Energetic listings jumped by 27% to virtually 31,000, in what the affiliation says is a normalization of developments for properties being positioned available on the market.
The assertion says it is going to be essential for provide to maintain tempo with rising demand to see markets balanced and forestall a rampant worth improve.
The typical residential worth on the A number of Itemizing Service in B.C. final month was down about one per cent to $949,560 from $959,191 in January final 12 months.
Listed here are a few of the common sale costs across the province:
- Northern B.C.— $396,187, up 3.4%
- Chilliwack — $694,700, down 3.7%
- Larger Vancouver — $1,208,415, down 3.7%
- Okanagan — $736,479, up 2.7%
- Kamloops — $536,082, down 3.8%
- Kootenay — $505,729, up 9%
- South Peace River — $281,028, up 30.5%
- Vancouver Island — $722,305, up 11.4%
- Victoria — $986,258, up 5.3%
This report by The Canadian Press was first revealed Feb. 13, 2025.
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Final modified: February 13, 2025