February MLS Stats
The number of residential unit sales continued to decline in February for the second consecutive month. The number of residential units sold in B.C. on the Multiple Listing Service® (MLS®) dropped 9.8% to 6,822. Residential sales dollar volume reached $3.26 billion this month, a 4.5% increase compared to the same month last year, while the average residential home price hit $478,172, up 15.8% compared to February 2007.
Greater Vancouver: The number of residential units sold in February reached 2,733, a drop of 5.9% compared to the same month last year, while dollar volumes climbed 10.3% to $1.7 billion. The average residential home price reached $623,517 this month, an increase of 17.3% compared to February of last year.
Fraser Valley: The number of units sold in February declined 9% compared to the same month last year with 1,237 units sold. Dollar volumes also dropped 2.1% to $540.3 million, while the average residential home price increased 7.6% compared to February of last year reaching $436,824.
Chilliwack: February sales declined 19.9% to 218 units, while dollar volumes reached $69.7 million, a 9.3% drop compared to the same month last year. Despite this, the average residential home price continued to climb in February reaching $319,503, a 13.1% increase compared to February of last year.
Victoria: Sales in February reached 580 units, a 12.7% decline compared to the same month last year. Dollar volumes also dropped 1.5% to $283 million, while the average residential home price reached $487,696, a 12.8% increase compared to February of last year.
Vancouver Island: The number of residential units sold in February reached 647, a decline of 10.3% compared to the same month last year. Dollar volumes increased 2% reaching $212.2 million, while the average residential home price rose 13.7% to $328,046.
Okanagan (including South Okanagan): The Okanagan and South Okanagan markets recorded 721 units sold in February, a decrease of 7.6% compared to February of last year, while dollar volumes remained stable at $268 million, an increase of 0.1%.
Kamloops: Dollar volumes climbed 15.5% compared to the same month last year reaching $73.5 million in February. Sales dropped 9.1% with 229 units sold, while the average residential home price jumped 27.1% compared to the same month last year reaching $321,092.
BC Northern: Residential sales continued to decline in February with 286 units sold, a drop of 22.3% compared to February of last year. Dollar volumes also declined 4.4% to $63 million, while the average residential home price recorded a 23% increase reaching $220,478.
Kootenay: The number of residential units sold in February reached 136, a 33.3% drop compared to the same month last year. Dollar volumes also declined 15.8% reaching $41.1 million, while the average residential home price jumped 26.3% compared to February of last year hitting $302,462.
| Board
|
Dollar Volume (000s)
|
% Chg.
|
Units
|
% Chg.
|
Average Price
|
% Chg.
|
|||
|
|
Feb. 08
|
Feb. 07
|
|
Feb. 08
|
Feb. 07
|
|
Feb. 08
|
Feb. 07
|
|
|
|
|
|
|
|
|
|
|
|
|
| BC Northern
|
$63,057
|
$65,958
|
-4.4
|
286
|
368
|
-22.3
|
$220,478
|
$179,234
|
23
|
| Chilliwack
|
$69,652
|
$76,810
|
-9.3
|
218
|
272
|
-19.9
|
$319,503
|
$282,388
|
13.1
|
| Fraser Valley
|
$540,351
|
$551,871
|
-2.1
|
1,237
|
1,359
|
-9
|
$436,824
|
$406,086
|
7.6
|
| Greater Vancouver
|
$1,704,072
|
$1,544,553
|
10.3
|
2,733
|
2,905
|
-5.9
|
$623,517
|
$531,688
|
17.3
|
| Kamloops
|
$73,530
|
$63,671
|
15.5
|
229
|
252
|
-9.1
|
$321,092
|
$252,664
|
27.1
|
| Kootenay
|
$41,135
|
$48,867
|
-15.8
|
136
|
204
|
-33.3
|
$302,462
|
$239,544
|
26.3
|
| Norther Lights
|
$3,995
|
$4,723
|
-15.4
|
20
|
21
|
-4.8
|
$199,750
|
$224,914
|
-11.2
|
| Okanagan Mainline
|
$221,583
|
$219,557
|
0.9
|
575
|
614
|
-6.4
|
$385,362
|
$357,585
|
7.8
|
| Powell River
|
$3,430
|
$3,251
|
5.5
|
15
|
17
|
-11.8
|
$228,673
|
$191,229
|
19.6
|
| South Okanagan
|
$46,178
|
$47,860
|
-3.5
|
146
|
166
|
-12
|
$316,285
|
$288,313
|
9.7
|
| Vancouver Island
|
$212,246
|
$208,100
|
2
|
647
|
721
|
-10.3
|
$328,046
|
$288,626
|
13.7
|
| Victoria
|
$282,864
|
$287,146
|
-1.5
|
580
|
664
|
-12.7
|
$487,696
|
$432,448
|
12.8
|
| Provincial Total
|
$3,262,091
|
$3,122,366
|
4.5
|
6,822
|
7,563
|
-9.8
|
$478,172
|
$412,847
|
15.8
|
Source: British Columbia Real Estate Association (BCREA)