{"id":17214,"date":"2021-01-14T10:10:00","date_gmt":"2021-01-14T18:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=17214"},"modified":"2021-01-13T09:10:51","modified_gmt":"2021-01-13T17:10:51","slug":"bc-housing-markets-staged-a-remarkable-recovery-during-the-pandemic-recession","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/01\/bc-housing-markets-staged-a-remarkable-recovery-during-the-pandemic-recession\/","title":{"rendered":"BC Housing Markets Staged A Remarkable Recovery During The Pandemic &#038; Recession"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 January 13, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 93,953 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in 2020, an increase of 21.5% from the 77,350 units sold in 2019. The annual average MLS\u00ae residential price in BC was $782,027, an 11.7% increase from $700,369 recorded the previous year. Total sales dollar volume was $73.5 billion, a 35.6% increase from 2019.<\/p>\n<p style=\"text-align: justify;\">\u201cHousing markets across the province staged a remarkable recovery during the COVID-19 pandemic and recession,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cWe expect considerable momentum heading into 2021.\u201d<\/p>\n<p style=\"text-align: justify;\">A total of 8,268 MLS\u00ae residential unit sales were recorded across the province in December, a record for the month and up 57.8% from December 2019. The average MLS\u00ae residential price in BC was $847,600, an increase of 12.5% from December 2019. Total sales dollar volume was $7 billion, a 77.5% increase year-over-year.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile 2021 is expected to get off to a roaring start, the level of supply in the market is near a record low,\u201d added Ogmundson. \u201cThat will likely translate to considerable pressure on prices until listings pick-up.\u201d<\/p>\n<p style=\"text-align: justify;\">Total active residential listings were down 16.1% to 20,725 units in December.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=17215\" rel=\"attachment wp-att-17215\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-17215\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2021\/01\/BCREA-288x216.jpg\" alt=\"\" width=\"611\" height=\"458\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2021\/01\/BCREA-288x216.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2021\/01\/BCREA-768x576.jpg 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2021\/01\/BCREA.jpg 960w\" sizes=\"auto, (max-width: 611px) 100vw, 611px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2020-12.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/strong-december-home-sales-close-out-an-unprecedented-year\/\" target=\"_blank\" rel=\"noopener noreferrer\">BCREA Strong December Home Sales Close Out An Unprecedented Year<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 January 13, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 93,953 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/01\/bc-housing-markets-staged-a-remarkable-recovery-during-the-pandemic-recession\/\">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-17214","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BC Housing Markets Staged A Remarkable Recovery During The Pandemic &amp; Recession &#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\/2021\/01\/bc-housing-markets-staged-a-remarkable-recovery-during-the-pandemic-recession\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BC Housing Markets Staged A Remarkable Recovery During The Pandemic &amp; Recession &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 January 13, 2021. 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