Vancouver, BC – May 15, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,569 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in April 2024, an increase of 1.5% from April 2023. The average MLS® residential price in BC in April 2024 was up 1.4% at $1 million, compared to an average price of $992,440 in April 2023. The total sales dollar volume was $7.6 billion, an increase of 3% from the same time the previous year.

“April was an above-average month for new listings activity, registering the highest pace since 2021,” said BCREA Chief Economist Brendon Ogmundson. “Sales are still slightly below normal, which has led to a substantial increase in total inventory, though at a level still far below long-run balance. Ultimately, the market is heading into the summer in a state of relative calm with much more choice for buyers.”

Year-to-date, BC residential sales dollar volume was up 9.5% to $23.4 billion, compared with the same period in 2023. Residential unit sales were up 4.8% to 23,507 units, while the average MLS® residential price was up 4.5% to $997,132.

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New Listings Bounce Higher in April by Brendon Ogmundson | Chief Economist | BCREA