{"id":18137,"date":"2021-06-30T10:10:00","date_gmt":"2021-06-30T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=18137"},"modified":"2021-06-23T14:33:51","modified_gmt":"2021-06-23T21:33:51","slug":"the-average-bc-home-selling-price-up-25-189800-y-y","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/06\/the-average-bc-home-selling-price-up-25-189800-y-y\/","title":{"rendered":"The Average BC Home Selling Price Up 25% ($189,800) Y\/Y"},"content":{"rendered":"<p style=\"text-align: justify;\">The average selling price of a BC home was $900,980 in May, up more than 25 percent, or $189,800, from the same month last year.<\/p>\n<p style=\"text-align: justify;\">That is undoubtedly a huge annual increase, but this figure actually represents a decline from the previous month. According to commentary from Central 1 Credit Union, it\u2019s buyers who are now \u201cshying away\u201d from the highest priced segment of the market driving the slight monthly dip in prices.<\/p>\n<p style=\"text-align: justify;\">The credit union\u2019s Deputy Chief Economist Bryan Yu wrote that fewer high-priced homes sold in May likely because more buyers opted for lower-priced properties. This \u201ccompositional\u201d effect led to the monthly decline in the average BC home price, which Yu said was the lowest average since February.<\/p>\n<p style=\"text-align: justify;\">Homebuyer fatigue brought on by soaring prices and a dearth of homes on the market has led to monthly sales declines across the province since transactions peaked in March. Now, the average price is showing early signs of following suit, albeit at a very gradual rate.<\/p>\n<p style=\"text-align: justify;\">Yu went on to note that optimism around declining COVID-19 cases and loosening restrictions is also contributing to a decline in pandemic-driven housing demand.<\/p>\n<p style=\"text-align: justify;\">\u201cFurther moderation in sales and prices are forecast to flatten in the latter half of this year. Affordability erosion will continue to slow sales, while the continued recuperation from the pandemic will continue to temper pandemic driven demand,\u201d Yu wrote.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2021\/06\/average-bc-home-gained-value-since-last-may.html\" target=\"_blank\" rel=\"noopener\">Average BC Home Has Gained $189,800 in Value Since Last May<\/a> by Sean MacKay | livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The average selling price of a BC home was $900,980 in May, up more than 25 percent, or $189,800, from the same month last year. That is undoubtedly a huge &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/06\/the-average-bc-home-selling-price-up-25-189800-y-y\/\">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-18137","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Average BC Home Selling Price Up 25% ($189,800) Y\/Y &#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\/06\/the-average-bc-home-selling-price-up-25-189800-y-y\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Average BC Home Selling Price Up 25% ($189,800) Y\/Y &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The average selling price of a BC home was $900,980 in May, up more than 25 percent, or $189,800, from the same month last year. That is undoubtedly a huge &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\\\/2021\\\/06\\\/the-average-bc-home-selling-price-up-25-189800-y-y\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/the-average-bc-home-selling-price-up-25-189800-y-y\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"The Average BC Home Selling Price Up 25% ($189,800) Y\\\/Y\",\"datePublished\":\"2021-06-30T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/the-average-bc-home-selling-price-up-25-189800-y-y\\\/\"},\"wordCount\":251,\"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\\\/2021\\\/06\\\/the-average-bc-home-selling-price-up-25-189800-y-y\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/the-average-bc-home-selling-price-up-25-189800-y-y\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/the-average-bc-home-selling-price-up-25-189800-y-y\\\/\",\"name\":\"The Average BC Home Selling Price Up 25% ($189,800) Y\\\/Y &#8226; 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