The B.C. Actual Property Affiliation says in a press release that the 4,221 residential gross sales in January had been up 6.4% from January 2024, though unit gross sales had 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 yr, with a warning that world uncertainties would possibly set off larger or decrease charges from the Financial institution of Canada.
Energetic listings jumped by 27% to nearly 31,000, in what the affiliation says is a normalization of traits for properties being positioned in the marketplace.
The assertion says will probably be essential for provide to maintain tempo with rising demand to see markets balanced and stop a rampant worth enhance.
The common 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 yr.
Listed below are a number 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 printed Feb. 13, 2025.
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Final modified: February 13, 2025
