- dollar volume declined 25.4 per cent compared to same month last year
- 5,337 MLS® residential unit sales were recorded over the same period
- number of sales down 17.9 per cent from August 2011
- the average residential price was $491,145 – 9.0 per cent lower than a year ago.
“Consumer demand continued to trend lower in August – tighter mortgage credit conditions introduced in July appear to be taking a toll on an already tentative market. However, with home sales slower than improving economic conditions suggest, a rebound may be in store before year-end.”
Year To Date
BC residential sales dollar volume declined 17.5 per cent to $26.2 billion, compared to the same period last year. Residential unit sales dipped 9.1 per cent to 50,131 units, while the average MLS® residential price was 9.3 per cent lower at $521,599.
Information and Graph Courtesy BCREA Reprinted with Permission