B.C. home sales rose to 1,620 units outside the Lower Mainland, a 7% increase on January 2011, but dropped 10% in Vancouver and the Fraser Valley, according to the British Columbia Real Estate Association (BCREA).
“Increased market activity outside the Lower Mainland in January was offset by fewer sales in Vancouver and the Fraser Valley,” said BCREA chief economist Cameron Muir.
The BCREA also reports the dollar volume of home sales in B.C. declined 7.6% to $2.1 billion in January, compared with January 2011.
A total of 3,976 homes sold on the MLS in January, a 3.9% decline. At $527,219, the average sale price was 3.8% lower than average prices in January 2011
“While provincial sales activity was down in January from year ago levels, consumer demand has posted modest improvement since last fall, driven by low mortgage interest rates and gradually improving economic conditions,” Muir said.
