Both residential sales and dollar figures were up last month compared to August 2013.
According to numbers released by the British Columbia Real Estate Association (BCREA), a total of 7,341 residential sales were recorded by the Multiple Listing Service (MLS) in August, an increase of seven per cent from the same month the year before. And the total sales dollar volume was $4.1 billion, an increase of 12.4 per cent compared to August 2013.
“Consumer demand remained relatively robust in August,” said Cameron Muir, the BCREA chief economist.
“Home sales last month were the highest for the month of August since 2009.”
The average MLS residential price in the province rose to $560,318, up five per cent from the same month last year.
In the Fraser Valley, the average residential price was $528,939. In August 2013, that price was $482,006, a rise of nearly 10 per cent.
“Low mortgage rates, increased net-migration and improving economic conditions continue to underpin housing demand in the province,” added Muir.
Year-to-date, BC residential sales dollar volume was up 22.8 per cent to $28.5 billion, compared to the same period last year. Residential unit sales were up 15.8 per cent to 57,715 units, while the average MLS residential price was up 6.1 per cent at $564,466.
