Two Speed Market Continues For BC Home Sales
per cent to 8,600 units. The average MLS® residential price rose 15 per cent to $594,157 in March compared to the same month last year. “We continue to observe a two-speed market in BC, with surging consumer demand in Metro Vancouver
overshadowing more moderate demand in other regions,” said Cameron Muir, BCREA Chief Economist. “Vigorous consumer demand drove Greater Vancouver to its most active March since 2004, while the Fraser Valley had its strongest March in four years. Conversely, sales activity in other BC markets is expanding at a pace more inline with overall economic growth.” Year-to-date, BC residential sales dollar volume increased 21 per cent to $11.14 billion, compared to the same period last year. Residential unit sales increased 4.7 per cent to 19,147 units. The average MLS® residential price rose 15.4 per cent to $582,021 over the same period.