The B.C. Actual Property Affiliation says in an announcement that the 4,221 residential gross sales in January have been up 6.4% from January 2024, though unit gross sales have been 12% under the 10-year common.
The affiliation’s chief economist Brendon Ogmundson says a rise in each gross sales and listings might foreshadow a stronger 12 months, with a warning that international uncertainties would possibly set off greater or decrease charges from the Financial institution of Canada.
Energetic listings jumped by 27% to virtually 31,000, in what the affiliation says is a normalization of developments for houses being positioned in the marketplace.
The assertion says it is going to be essential for provide to maintain tempo with rising demand to see markets balanced and stop a rampant worth enhance.
The typical residential worth on the A number of Itemizing Service in B.C. final month was down about one per cent to $949,560 from $959,191 in January final 12 months.
Listed below are a few of the common sale costs across the province:
Northern B.C.— $396,187, up 3.4%
Chilliwack — $694,700, down 3.7%
Better Vancouver — $1,208,415, down 3.7%
Okanagan — $736,479, up 2.7%
Kamloops — $536,082, down 3.8%
Kootenay — $505,729, up 9%
South Peace River — $281,028, up 30.5%
Vancouver Island — $722,305, up 11.4%
Victoria — $986,258, up 5.3%
This report by The Canadian Press was first printed Feb. 13, 2025.
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Final modified: February 13, 2025
