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B.C. home sales rise nearly 9 percent compared to last year

On Friday, B.C. Real Estate Association reported that B.C. homes sales activity rose 9% , and the average price rose to $524,000 in September, compared to same month last year. The MLS sales activity increased to 5,995 units, an 8.8 % of increase in September, compared to last month. The total units listed in September reached 55,616 units.

For Metro Vancouver market, the average price has increased to $751,000, a 10.5% change compared to September last year. In Kamloops, the average price increased to $286,000, an 11 % of change, and in the Okanagan Mainline, the average price dropped to $376,000, a 6.6% decrease. BCREA chief economist Cameron Muir stated that, the increase of demand in September was due to consistent low mortgage rate and an increase in employment.

 

For the full article, please click on the link below:

Vancouver Sun – Oct 17th, 2011

 

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