February MLS Statistics:


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.

 

Sonal Danjou
Business Development
Canada Mortgage and Housing Corporation