"The strong recovery in sales activity continued in July," said BCREA Chief Economist Brendon Ogmundson. "Increased demand for more living space combined with an undersupplied market is producing significant upward pressure on home prices, particularly in the market for single-family homes."
Active listings remain down significantly year-over-year, creating upward pressure on prices, though increased demand for single-family homes has somewhat skewed average prices in some markets.
Year-to-date, BC residential sales dollar volume was up 8.4% to $32.5 Billion, compared with the same period in 2019. Residential unit sales were down 1.4% to 43,718 units, while the average MLS® residential price was up 10% to $754,842.
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