{"id":11268,"date":"2019-01-02T10:10:25","date_gmt":"2019-01-02T18:10:25","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11268"},"modified":"2018-12-19T20:16:20","modified_gmt":"2018-12-20T04:16:20","slug":"bcs-average-residential-sale-price-will-edge-up-in-2019","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/01\/bcs-average-residential-sale-price-will-edge-up-in-2019\/","title":{"rendered":"BC&#8217;s Average Residential Sale Price will Edge Up in 2019"},"content":{"rendered":"<p style=\"text-align: justify;\">British Columbia is expected to lead a year-over-year decline in home sales in 2019, according to a national real estate forecast released this week, but sales in the province will increase slightly.<\/p>\n<p style=\"text-align: justify;\">The average sale price of a BC home sold on the Multiple Listing Service next year will be $720,000 \u2013 an increase of 0.9% over 2018\u2019s figure, according to the forecast by the Canadian Real Estate Association (CREA).<\/p>\n<p style=\"text-align: justify;\">That\u2019s following a year-over-year increase of 0.6% in 2018 to $713,700 \u2013 despite sales plummeting on an annual basis in many of the province\u2019s major markets.<\/p>\n<p style=\"text-align: justify;\">CREA said that, following an overall 24.2% annual decline in home sales across BC in 2018, resale transactions would drop in the province by a further 5.2% in 2019. That\u2019s the second-steepest predicted sales drop of all the provinces, after Newfoundland at -7.2%, and a much bigger total volume decline.<\/p>\n<p style=\"text-align: justify;\">This contradicts a BC Real Estate Association forecast issued in November, which predicted home sales in the province would bounce back somewhat after a slow 2018.<\/p>\n<p style=\"text-align: justify;\"><strong>National Picture<\/strong><\/p>\n<p style=\"text-align: justify;\">Across the country next year, CREA predicted that the national average price for a Canadian home sold via the MLS would rise 1.7% to $496,800. Only Newfoundland, Alberta and Saskatchewan are expected to see a lower average sale price next year compared with 2018.<\/p>\n<p style=\"text-align: justify;\">The association revised its projected national residential sales across 2018 to a decline of 11.8% versus 2017, which is 458,000 homes \u2013 the lowest in nine years.<\/p>\n<p style=\"text-align: justify;\">&#8220;The national forecast has been revised lower &#8230;.. as an anticipated rebound in sales in British Columbia has so far failed to materialize, the recovery in Ontario sales this summer has now run its course and sales activity in Alberta has edged lower. These developments were partially offset by stronger-than-expected sales activity in Quebec,&#8221; CREA said in its report.<\/p>\n<p style=\"text-align: justify;\">Next year, the total number of sales in Canada is forecast to decline another 0.5% to 456,000 units.<\/p>\n<p style=\"text-align: justify;\">\u201cIn 2019, home sales activity and prices are expected to be held in check by recent policy changes from different levels of government, in addition to additional interest rate increases,\u201d said the association.<\/p>\n<p style=\"text-align: justify;\">While BC is set to drive that projected decline in resale transactions, followed by Alberta, Ontario is expected to see a recovery in home sales after a weak 2018, and Quebec is predicted to continue its strong activity.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2018\/12\/bcs-average-residential-sale-price-will-edge-2019-canadian-real-estate-association\">CREA : BC&#8217;s Average Residential Sale Price will Edge Up in 2019<\/a> by Joannah Connolly, Glacier Media Real Estate | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British Columbia is expected to lead a year-over-year decline in home sales in 2019, according to a national real estate forecast released this week, but sales in the province will &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/bcs-average-residential-sale-price-will-edge-up-in-2019\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-11268","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BC&#039;s Average Residential Sale Price will Edge Up in 2019 &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/bcs-average-residential-sale-price-will-edge-up-in-2019\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BC&#039;s Average Residential Sale Price will Edge Up in 2019 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"British Columbia is expected to lead a year-over-year decline in home sales in 2019, according to a national real estate forecast released this week, but sales in the province will &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/bcs-average-residential-sale-price-will-edge-up-in-2019\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/bcs-average-residential-sale-price-will-edge-up-in-2019\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"BC&#8217;s Average Residential Sale Price will Edge Up in 2019\",\"datePublished\":\"2019-01-02T18:10:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/bcs-average-residential-sale-price-will-edge-up-in-2019\\\/\"},\"wordCount\":401,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/bcs-average-residential-sale-price-will-edge-up-in-2019\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/bcs-average-residential-sale-price-will-edge-up-in-2019\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/01\\\/bcs-average-residential-sale-price-will-edge-up-in-2019\\\/\",\"name\":\"BC's Average Residential Sale Price will Edge Up in 2019 &#8226; 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