mayne-brothers-white-logo

BC Markets Calming but Sales Still on Record Pace

Published on May 13, 2021

Vancouver, BC – May 12, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 13,683 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2021, an increase of 312.3 per cent over April 2020 when the onset of the COVID-19 pandemic prompted a lockdown of the provincial economy. The average MLS® residential price in BC was $946,606, a 29.1 per cent increase from $733,330 recorded in April 2020. Total sales dollar volume was $12.9 billion, a 432.2 per cent increase from last year.

“Although provincial home sales were down slightly from an all-time high in March, sales activity was the highest on record for April,” said BCREA Chief Economist Brendon Ogmundson. “Home sales continue on a record pace, though we do see a calming environment compared to the frenzied activity of recent months.”

Total active residential listings were down 14.5 per cent year-over-year in April but did tick higher on a seasonally adjusted basis for the second consecutive month as new listings activity ramped up.

“We are starting to see very strong new listings activity in several markets,” said Ogmundson, “however, it will take quite some time for total listings to return to the level needed to balance out markets and temper growth in home prices.”

RELATED POSTS

Vancouver, BC –  December 12, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 4,630 residential

1 min read

Vancouver, BC – November 14, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 5,373 residential

1 min read

BCREA 2023 Fourth Quarter Housing Forecast Vancouver, BC – October 25, 2023. The British Columbia Real Estate Association (BCREA) released its

2 min read

Get all the latest updates by signing up to our newsletter.

BE INFORMED

BE INFORMED