The B.C. Actual Property Affiliation says in an announcement that the 4,221 residential gross sales in January had been up 6.4% from January 2024, though unit gross sales had been 12% under the 10-year common.
The affiliation’s chief economist Brendon Ogmundson says a rise in each gross sales and listings might foreshadow a stronger 12 months, with a warning that international uncertainties may set off greater 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 tendencies for properties being positioned in the marketplace.
The assertion says it will likely be essential for provide to maintain tempo with rising demand to see markets balanced and forestall a rampant value improve.
The common residential value 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 below 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%
- Higher 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 printed Feb. 13, 2025.
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Final modified: February 13, 2025