{"id":13957,"date":"2019-10-21T11:11:56","date_gmt":"2019-10-21T18:11:56","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13957"},"modified":"2019-10-17T10:31:49","modified_gmt":"2019-10-17T17:31:49","slug":"fall-into-more-comfortable-market-condition-for-bc-home-sellers-home-buyers","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/10\/fall-into-more-comfortable-market-condition-for-bc-home-sellers-home-buyers\/","title":{"rendered":"Fall Into More Comfortable Market Condition for BC Home Sellers &#038; Home Buyers"},"content":{"rendered":"<p style=\"text-align: justify;\">It may seem like a gargantuan figure, but BC\u2019s housing market is chugging again as encouraging signs from the summer market carry into the busy fall homebuying season.<\/p>\n<p style=\"text-align: justify;\">The province\u2019s average home price rose to $697,943 and a total of 6,938 homes changed hands in September. All that amounted to a nearly $1.3 billion increase in home sales dollar volume last month compared to September 2018.<\/p>\n<p style=\"text-align: justify;\">While the high figures make it sound like the BC housing market could be returning to its red hot (and some may argue, overheated) 2016 days, it\u2019s actually much more like a return to normalcy.<\/p>\n<p style=\"text-align: justify;\">The British Columbia Real Estate Association (BCREA), which released the data early on Tuesday, reported the positive gains across the province\u2019s major housing markets, while seeking to temper reactions by providing some important context for the numbers.<\/p>\n<p style=\"text-align: justify;\">\u201cMarkets across BC built on momentum from the summer,\u201d says BCREA Chief Economist Brendon Ogmundson. \u201cWhile the year-over-year increase in provincial sales was quite strong, home sales in most areas are simply returning to historically average levels.\u201d<\/p>\n<p style=\"text-align: justify;\">Indeed, even as the momentum increased through the summer and into September, 2019 still has many of the markings of a tough market when looking at all the data available for the first nine months of the year.<\/p>\n<p style=\"text-align: justify;\">Year-to-date sales dollar volume is 12.4 percent lower and total sales are 8.9 percent below the same period in 2018. BCREA calls the province\u2019s overall market conditions \u201cbalanced.\u201d<\/p>\n<p style=\"text-align: justify;\">The Real Estate Board of Greater Vancouver had a similar story to tell earlier this month as buyers in the province\u2019s largest housing market began getting comfortable with opening their wallets again.<\/p>\n<p style=\"text-align: justify;\">Despite large home sales increases observed in September, market experts noted that the sales levels were merely \u201ctypical\u201d when compared to historical averages. But, as one expert pointed out, the upshot is a more comfortable market for both buyers and sellers.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019re seeing more balanced housing market conditions over the last three months compared to what we saw at this time last year. Home buyers are more willing to make offers today, particularly in the townhome and apartment markets,\u201d said Ashley Smith, President of the Real Estate Board of Greater Vancouver, in a media release.<\/p>\n<p style=\"text-align: justify;\">\u201cThis is a more comfortable market for people on both sides of a real estate transaction,\u201d she continued.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2019\/10\/bc-homebuyer-spending-jumped-1-billion-september.html\" target=\"_blank\" rel=\"noopener noreferrer\">BC Homebuyer Spending Jumped by $1.3 Billion This September<\/a> by Sean MacKay | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It may seem like a gargantuan figure, but BC\u2019s housing market is chugging again as encouraging signs from the summer market carry into the busy fall homebuying season. The province\u2019s &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/10\/fall-into-more-comfortable-market-condition-for-bc-home-sellers-home-buyers\/\">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-13957","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>Fall Into More Comfortable Market Condition for BC Home Sellers &amp; Home Buyers &#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\/10\/fall-into-more-comfortable-market-condition-for-bc-home-sellers-home-buyers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Fall Into More Comfortable Market Condition for BC Home Sellers &amp; Home Buyers &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"It may seem like a gargantuan figure, but BC\u2019s housing market is chugging again as encouraging signs from the summer market carry into the busy fall homebuying season. 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