In case you're wondering...And Who Isn't? According to the British Columbia Real Estate Association...
Market Conditions Beginning to Improve The Multiple Listing Service® (MLS®) residential sales in the province declined 36 per cent to 5,511 units in September compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 2 per cent in September from August 2010. The average MLS® residential price climbed 4 per cent to $493,846 in September compared to the same month last year.
"BC home sales increased for the second consecutive month in September," said Cameron Muir, BCREA Chief Economist. "However, consumer demand is still noticeably lower than last fall's frenetic pace."
"Market conditions have improved, with the months of supply declining from 11.1 in June to 8.9 in September," added Muir. A balanced market typically exhibits five to seven months of supply.
"The current downward pressure on mortgage rates is expected to bolster housing demand this fall as consumers take advantage of a second opportunity to secure near record low interest rates," noted Muir.
Year-to-date, BC residential sales dollar volume increased 2 per cent to $29.6 billion, compared to the same period last year. Residential unit sales declined 7 per cent to 59,228 year-to-date, while the average MLS® residential price climbed 9 per cent to $500,539 over the same period.
|
September 2010 BC Residential Multiple Listing Service® Data by Board Board |
Dollar Volume (000s) |
Units |
||||
|
September 2010 Residential Sales ($) |
September 2009 Residential Sales ($) |
% change |
September 2010 Residential Sales (Units) |
September 2009 Residential Sales (Units) |
% change |
|
|
BC Northern |
67,647 |
82,417 |
-17.9 |
338 |
394 |
-14.2 |
|
Chilliwack |
39,622 |
57,223 |
-30.8 |
137 |
190 |
-27.9 |
|
Fraser Valley |
430,312 |
649,890 |
-33.8 |
967 |
1,488 |
-35.0 |
|
Greater Vancouver |
1,531,324 |
2,217,611 |
-30.9 |
2,254 |
3,632 |
-37.9 |
|
Kamloops |
59,908 |
72,233 |
-17.1 |
189 |
241 |
-21.6 |
|
Kootenay |
48,394 |
69,169 |
-30.0 |
188 |
262 |
-28.2 |
|
Northern Lights |
6,532 |
7,849 |
-16.8 |
36 |
34 |
5.9 |
|
Okanagan Mainline |
161,597 |
237,593 |
-32.0 |
402 |
614 |
-34.5 |
|
Powell River |
5,020 |
7,819 |
-35.8 |
26 |
32 |
-18.8 |
|
South Okanagan |
30,033 |
49,357 |
-39.2 |
103 |
154 |
-33.1 |
|
Vancouver Island |
157,209 |
249,703 |
-37.0 |
492 |
807 |
-39.0 |
|
Victoria |
183,989 |
365,608 |
-49.7 |
379 |
728 |
-47.9 |
|
Provincial Totals* |
2,721,587 |
4,066,471 |
-33.1 |
5,511 |
8,576 |
-35.7 |
If you or someone you know is thinking buying or selling a home - or if you would like more information on Chilliwack Real Estate please give Chilliwack Realtor Liz Moras of Landmark Realty Chilliwack a call at- 604-799-0459 or e-mail at lizmoras@gmail.com. Selling property in Cultus Lake, Chilliwack, Hope, Abbotsford, Langley or anywhere in the Fraser Valley Area of B.C.
Copyright © 2010 By Liz Moras, All Rights Reserved. Please do not use without permission. Information provided by this author is only an opinion, it is not guaranteed, may be based on information collected from several sources, and may be time sensitive. It is not necessarily representative of the opinions of Landmark Realty Chwk. Ltd. 
Comments (3)Subscribe to CommentsComment