VANCOUVER — British Columbia in September saw more real estate sales than August, which was the second month in a row sales beat the previous month, the British Columbia Real Estate Association reported Wednesday.

Realtors saw 5,511 homes sold through the realtor-controlled Multiple Listing Service in September, which was 36-per-cent lower than the frenetic levels of the same month a year ago, but slightly above August levels on a seasonally adjusted basis.

“Market conditions have improved, with the months of supply declining from 11.1 in June to 8.9 in September,” association chief economist Cameron Muir said in a news release. “A balanced market typically exhibits five to seven months of supply.”

That means fewer sellers are putting homes on the market reducing the potential that supply will overwhelm demand.

Muir added that declining mortgage rates, which have fallen back to near all-time lows, should also bolster some housing demand “as consumers take advantage of a second opportunity to secure near record low interest rates.”

In his report, Muir said the average B.C. home price hit $493,846 in September, which was four per cent higher than the same month a year ago, and almost one per cent higher than B.C.'s August average price.

depenner@vancouversun.com