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Real Estate Statistics


December 2020 BC Real Estate Update



"Housing markets across the province staged a remarkable recovery during the COVID-19 pandemic and recession. We expect considerable momentum heading into 2021."


BCREA Chief Economist, Brendon Ogmundson


A total of 93,953 residential sales were recorded by MLS in 2020, which was an increase of 21.5% over last year. The annual average residential price in BC in 2020 was $782,027, an increase of 11.7% from 2019. 


In December a total of 8,268 MLS residential sales were recorded in BC which was a huge 57.8% increase over December 2019. The average MLS residential price was $847,600, an increase of 12.5% over the same month in 2019. 


Read the full report here 


From the mile-high ski homes at Silver Star Mountain to the waterfront homes on Kalamalka and Okanagan Lake, we service the Okanagan Valley with dedicated, professional, and award-winning service! Call us at 250-260-4711 or email info@vernonrealestate.com for any questions you might have about your next Vernon Real Estate sale or purchase!



November 2020 BC Real Estate Update



"Home sales were once again unseasonable strong in November with several markets setting records for the month. While demand continues to be strong, the supply of listings has reached near-record lows in several parts of the province, with prices rising sharply as a result"


BCREA Chief Economist, Brendon Ogmundson


There were 9,416 residential sales in November which was an increase of 42.1% over last year. The average MLS price in BC set a new record of $816,074, an increase of 9.3% over last year. 


Read the full report here 


Let's discuss your next Vernon Real Estate home sale or purchase with no obligation! Call us at 250-260-4711 or send us an email at info@vernonrealestate.com




August 2020 BC Real Estate Update



"Very strong provincial homes sales continued in August. While pent-up demand from the spring is driving much of the increase, we anticipate a sustained strong level of sales through the fall"


BCREA Chief Economist, Brendon Ogmundson


10,172 residential sales were recorded in August, which was an increase of 42.8% over last year. The average residential price was $771,309. Last year the average price was $684,093. This shows an increase of 12.7%. 


Read the full report here


Whether buying or selling, no other real estate agent or real estate group in the North Okanagan delivers more! Call us at 250-260-4711 or email info@vernonrealestate.com for any real estate questions you might have!




July 2020 BC Real Estate Update



"The strong recovery in sales activity continued in July. Increased demand for more living space combined with an undersupplied market is producing significant upward pressure on home prices, particularly in the market for single-family homes."


Brendon Ogmundson, BCREA Chief Economist


A total of 10,090 residential sales were recorded by the MLS in July, an increase of 26.6% from July 2019. The average residential price was $770,810 which is 12.9 higher than in July 2019. 


Read the full BCREA news release here



November 2019 BC Real Estate Update




"After several months of strong gains, home sales are now firming around
long-run averages," said BCREA Chief Economist Brendon Ogmundson. "We
expect 2020 will be a much more typical year for markets compared to the
volatility of recent years."


There were a total of 6,616 residential unit sales in BC in November, an increase of 27.5% increase from November 2018. The average residential price came in at $746,939 which was an increase of 5.5% over last year. 


Read the full report here 


September 2019 BC Real Estate Update



"Markets across BC built on momentum from the summer. While the year-over-year increase in provincial sales was quite strong, home sales in most areas are simply returning to historically average levels." - Brendon Ogmundson BCREA Chief Economist.


The average residential price in the province was $697,943 = an increase of 2.1% over the same time last year.


Total sales dollar amount was $4.84 billion = an increase of 26.5% over last September


Read the full news release here 

BC HOME SALES TREND LOWER IN JUNE


“BC home sales moderated lower in June after a stronger showing in May,” said BCREA Deputy Chief Economist Brendon Ogmundson. “While mortgage rates offered by lenders have moved below 3 per cent, a static qualifying rate has limited the impact of the lower cost of borrowing.”



Read the full June 2019 BCREA News Release HERE

Strong Economy Supports Robust Housing Demand

 

Read the BCREA Real Estate Housing Forecast Update Here.

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Who is Buying Homes in the Okanagan-Shuswap?

 

Kelowna, BC – Ever wonder where home buyers come from? Since September 2010, the Okanagan Mainline Real Estate Board (OMREB) has been collecting information from our members with regards to where our buyers are coming from – both geographically and demographically. The purpose of collecting this data is to add another element to our market knowledge and a better understanding of current trends. The longer record, the more insight the Board will have. Results of OMREB’s Board-wide monthly Buyers Survey indicate that serious buyers are taking advantage of the current market and leveraging their positive purchasing power while it lasts.

 

Buyer profiles gathered through each monthly survey include property type, family dynamic, financing, and areas moving from and to. 2017: First Quarter Year-to-Date (January to March), Move-up Buyers have accounted for 17.07% of the purchasers while First-Time Buyers comprised 20.7%. Home Buyers have been coming from:

 

• Within the OMREB Board area (57.97%)

• Lower Mainland/Vancouver Island (16.93%)

• Alberta (9.97%) • Other Areas of BC (5.9%)

• Eastern Canada/Maritimes (3.77%)

• Saskatchewan/Manitoba (2.67%)

• Outside Canada (2.67%)

• North West Territories/Yukon* (0.10%)

 

PIE CHART

 

PRESS RELEASE

 

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.