"There were encouraging signs of recovery in May," said BCREA Chief Economist Brendon Ogmundson. "While activity is still far below normal, both sales and listings are up significantly from April's lows."
New listings activity started to normalize around the first week of May, reversing a slide in total active listings. However, active listings are still down close to 24% year-over-year and are more than 10,000 listings below where they would normally be in the spring months.
Year-to-date, BC residential sales dollar volume was down 6% to $18.6 billion, compared with the same period in 2019. Residential unit sales were down 14.2% to 24,695 units, while the average MLS® residential price was up 9.6% to $753,155.
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