For April 2020, there was a 50.8% decline in residential unit sales recorded by MLS® compared to April 2019 (3,284 units). The average MLS® residential price in BC was $737,834, a 7.8% increase from $684,430 recorded the previous year.
"We expected to see a sharp drop in sales for April as we confronted the COVID-19 pandemic,” said BCREA Chief Economist Brendon Ogmundson. “However, buyers and sellers are adapting to a new normal, and activity should pick up as the economy gradually re-opens.”
While the supply of homes available for sale generally rises through the spring, this year was a bit different. Supply was down close to 10% on a seasonally adjusted basis and down 23.7% year-over-year. Prices remained firm despite the large decline in sales.
Year-to-date, there has been a 9.6% increase in the sale dollar volume for BC residential units bringing it to $15.3 Billion (compared to the same period last year). Residential unit sales are down 1.7% bringing it to 20,164 units while the average MLS® residential price was up 11.6% to $758,614.
The average price and unit sales, broken down by statistics from each Real Estate Board can be found below:
Source: British Columbia Real Estate Association
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.