Vancouver, BC – December 14, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 8,032 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November, up 34.5% from the same month last year. Total sales dollar volume was $5.38 billion, up 56.4% compared to the previous year. The average MLS® residential price in the province rose to $668,317, up 16.3% from November 2014.

“Housing demand last month was the second strongest ever recorded for the month of November,” said Cameron Muir, BCREA Chief Economist. “You’d need to look all the way back to the frenetic market of 1989 to find more homes trading hands in November.“

The largest increase in consumer demand occurred in the Fraser Valley, where home sales climbed over 60% from November 2014. Vancouver and Chilliwack experienced an increase of over 40%, while Kamloops home sales were up 30%.

The year-to-date, BC residential sales dollar volume increased 35.4% to $60.7 billion, when compared with the same period in 2014. Residential unit sales climbed by 21.5% to 95,927 units, while the average MLS® residential price was up 11.4% to $632,209.

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