Provincial Market for April.

By
Real Estate Sales Representative with RE/MAX Kelowna

British Columbia Estate Association reports that a total of 3,284 residential unit sales were recorded by MLS in April 2020, a decline of 50.8 per cent from April 2019. The average MLS residential price in BC was $737,834, a 7.8 per cent increase from $684,430 recorded the previous year. Total sales dollar volume in March was $2.4 billion, a 46.9 per cent decrease over 2019. 

We expected to see a sharp drop in sales for April as we confronted by Covid-19. However, buyers and sellers are adapting to a new normal, and activity should pick up as the economy gradually re-opens.

While home sales were down by more than half compared to this time last year, the supply of homes for sale, which normally rises through the spring, was down close to 10 per cent on a seasonally adjusted basis and down 23.7 per cent year-over-year. That slide in total active listings means that prices remained firm despite the sharp fall in sales.

Year-to-date, BC residential sales dollar volume was up 9.6 per cent to $15.3 billion, compared with the same period in 2019. Residential unit sales were down 1.7 per cent to 20,164 units, while the average MLS
 residential price was up 11.6 per cent to $758,614. 

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Rainer
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Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Thank you for taking the time to keep us posted and up to date. Wishing you a great day ahead! Take care.

May 26, 2020 01:58 AM #1
Rainmaker
311,729
Angela Lawrence
Noble Merit Real Estate Services - Winston-Salem, NC
Broker/Owner

Good Morning Steve!  Thanks for the update in your market.  Always interesting to know how other areas are doing.

May 26, 2020 03:05 AM #2
Rainmaker
3,587,950
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Steve. Prices holding! Pent up demand rising! Soon, very soon! Enjoy your day!

May 26, 2020 04:53 AM #3
Rainmaker
623,271
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Wayne,
Thank you for stopping by and leaving a comment. I sure hope you’re right so very soon! You also have a great day!

May 26, 2020 04:09 PM #4
Rainmaker
651,028
Sara Wagner
The Woodland Companies - Adams, WI
Stevens Point Rentals

Thanks for sharing the information on this community, I hope you sell many of these homes. 

Sara

May 27, 2020 11:21 PM #5
Rainmaker
3,364,264
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Steve thanks to the AR glitch I found this post, otherwise I would have missed it:))Endre

Jul 04, 2020 11:20 PM #6
Rainmaker
623,271
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Endre Barath, Jr. 

Haha, glad you didn't miss it! Thanks for finding it and leaving me a comment. I hope all is well with you and your family. Is it as bad down there as we are hearing up here? We have been very fortunate here. Our province is 5+million and only 177 deaths so far. I believe there are only about 7 in hospital and 2 in ICU.

Jul 05, 2020 07:01 PM #7
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Love to hear that COVID-19 hasn't stopped business in your market, Steve! It hasn't in mine either - thankfully! 

Great report!

Jul 07, 2020 07:24 PM #8
Rainmaker
623,271
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Debe Maxwell, CRS 

Thank you for stopping by and leaving a comment. No it hasn't stopped it but certainly had slowed it. I am happy to hear you are still busy.

Jul 07, 2020 07:36 PM #9
Rainmaker
3,364,264
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Steve to answer your question no things are not as bad as they make them out to be.... I blame the politicians and the media....sadly four months of confinement is starting to have other problems with the locals.... I call it "mental issues" Endre

Jul 09, 2020 09:51 PM #10
Rainmaker
623,271
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Endre Barath, Jr. 

That is good to hear!! I know the media always blows things way bigger than they are, I just wasn't sure how much they are blowing this out of proportion. Yes we were having the same problems up here with "mental issues" we have now gone to stage 3 of opening up and will probably stay that way for a long time. As they are finding opening up pubs are causing some problems, a few of those wobbly pops and people forget to social distance. 

Jul 10, 2020 06:04 PM #11
Rainmaker
3,364,264
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Yes now they are talking about lockdowns again... my take is this is becoming nothing more than a political game plan...

Jul 10, 2020 09:42 PM #12
Rainmaker
623,271
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Endre Barath, Jr. ,

It's crazy I think they need to figure out a game plan and get with it. Right now the talk up here with all the snowbirds no one is going down unless they come up with a miracle. I'd rather be down there isolating for the winter then in the snow. Time will tell I guess.

Jul 11, 2020 06:28 PM #13
Rainmaker
3,364,264
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Steve love your observation rather be isolated than being in the snow I tend to agree with you:)))Endre

Jul 11, 2020 10:06 PM #14
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