{"id":17545,"date":"2021-03-15T10:10:00","date_gmt":"2021-03-15T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=17545"},"modified":"2021-03-11T12:55:45","modified_gmt":"2021-03-11T20:55:45","slug":"bcrea-continues-to-drive-a-blistering-pace-of-home-sales-in-metro-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/03\/bcrea-continues-to-drive-a-blistering-pace-of-home-sales-in-metro-vancouver\/","title":{"rendered":"BCREA Continues to Drive A Blistering Pace of Home Sales in Metro Vancouver"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 March 11, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 10,918 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in February 2021, an increase of 89.1% over February 2020 and over a thousand sales higher than the previous February record, set in 2016. The average MLS\u00ae residential price in BC was $889,584, a 17.3% increase from $758,382 recorded in February 2020. Total sales dollar volume was $9.7 billion, a 121.8% increase from last year.<\/p>\n<p style=\"text-align: justify;\">\u201cNear-record sales in Metro Vancouver, combined with unprecedented housing demand outside of Metro Vancouver, continues to drive a blistering pace of home sales in BC,\u201d said BCREA Chief Economist Brendon Ogmundson.<\/p>\n<p style=\"text-align: justify;\">Total active residential listings were down 28.7% to 20,185 units in February, the lowest level of provincial active listings on record, going back to 2000. Fortunately, new listings have increased considerably, but given the pace of sales, total inventory of homes for sale remains severely depleted.<\/p>\n<p style=\"text-align: justify;\">&#8220;There is a drought of resale inventory across the province,\u201d added Ogmundson. &#8220;With so few listings, and with so much demand for single-detached homes, average prices have increased dramatically.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2021-02.pdf\" target=\"_blank\" rel=\"noopener\">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\/bc-housing-market-continues-at-a-record-pace\/\" target=\"_blank\" rel=\"noopener\">BC Housing Market Continues at A Record Pace<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 March 11, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 10,918 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/03\/bcrea-continues-to-drive-a-blistering-pace-of-home-sales-in-metro-vancouver\/\">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-17545","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>BCREA Continues to Drive A Blistering Pace of Home Sales in Metro Vancouver &#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\/03\/bcrea-continues-to-drive-a-blistering-pace-of-home-sales-in-metro-vancouver\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Continues to Drive A Blistering Pace of Home Sales in Metro Vancouver &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 March 11, 2021. 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