Home sales in Vancouver were up again in June, but nowhere near the numbers posted on the Sunshine Coast.
B.C. Real Estate Association (BCREA) statistics show 73% more residential units (38) sold in Powell River in June compared with the same month in 2010.
This while the average price of a home in that Sunshine Coast city rose 9% to $249,346 when compared with June 2010.
Despite the marked increase in sales in that corner of the province, the BCREA said June was a fairly lackadaisical month when it came to Multiple Listing Service (MLS) residential sales B.C.-wide.
“Home sales were relatively unchanged in June compared to last year,” BCREA chief economist Cameron Muir commented.
“However, low mortgage interest rates and an overdue pick-up in B.C. employment growth are expected to provide some incentive to consumers over the summer months.”
The BCREA noted that residential unit sales across B.C. rose only 2% to 7,904 units in June compared with the same month last year.
Despite the tame growth rate, the average MLS residential price in B.C. climbed 14% to $571,837 last month compared with June 2010.
That increase was driven in large part by a 23% increase in the average residential home price in Greater Vancouver, which reached $808,867.
Joel McKay
Twitter:jmckaybiv