Vancouver, BC – September 14, 2021. The British Columbia Real Estate Association (BCREA) reports that a total 9,507 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August 2021, a decrease of 7.1% over August 2020. The average MLS® residential price in BC was $901,712, a 17.2% increase from $769,691 recorded in August 2020. Total sales dollar volume was $8.6 billion, an 8.9% increase from last year.

“Home sales around the province have essentially returned to normal after a record setting spring,” said BCREA Chief Economist Brendon Ogmundson. “However, we continue to see a drought in the total supply of listings as well as downward trend in new listings activity.”

Total active residential listings were down 37.9% year-over-year in August and were 42% below normal levels for the month of August.

Year-to-date, BC residential sales dollar volume was up 102.2% to $82 billion, compared with the same period in 2020. Residential unit sales were up 67.8% to 89,980 units, while the average MLS® residential price was up 20.5% to $911,245.

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BC Home Sales Returning to Normal While Supply Hits Record Low by Brendon Ogmundson | Chief Economist | BCREA