B.C. homes sales dropped more than 45% in May compared to the same time last year but home prices continue to rise.
The average residential sales price in May was $728,898, which is 3.2% higher than last years average of $706.394.
In Greater Vancouver, the average sales price was up 2.9% ($1.012 million to $1.041 million) compared with the same time last year, while Fraser Valley home prices climbed 2.6% ($725,292 to $744,322)
Vancouver Island had the biggest price jump with a 9.5 rise over May 2019 ($494,380 to $541,485), while the largest drop was recorded in Powell River where home prices plummeted 19.4% (366,933 to $295,748)
There were 4,518 homes sold in B.C. last May, compared with 8,244 sales in May of 2019, which illustrates the drastic impact the COVID-19 pandemic has had on B.C. real estate activity.
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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.
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