August 2020 Metro Vancouver Housing


Last month, the British Columbia Real Estate Association (BCREA) reports that a total of 10,172 residential unit sales were recorded by the Multiple Listing Service® (MLS®) which is an increase of 42.8% from the same month last year. There was a 12.7% increase in the average MLS® residential price in BC bringing it to $771,309 ($684,093 recorded the previous year). Total sales dollar volume in August was $7.8 billion, a 61.1% increase over 2019.

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“Very strong provincial home sales continued in August,” said BCREA Chief Economist Brendon Ogmundson. “While pent-up demand from the spring is driving much of the increase, we anticipate a sustained strong level of sales through the fall.”

Total provincial active listings are still down more than 10% year-over-year, with some markets even more under-supplied as the pandemic continues to keep listings low. As a result, prices are sharply rising around the province. Year-to-date, BC residential sales dollar volume was up 15.8% to $40.4 billion, compared with the same period in 2019. Residential unit sales were up 4.9% to 53,336 units, while the average MLS® residential price was up 10.4% to $757,504.   

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.