{"id":18733,"date":"2021-10-13T10:10:00","date_gmt":"2021-10-13T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=18733"},"modified":"2021-10-12T09:37:34","modified_gmt":"2021-10-12T16:37:34","slug":"bcrea-record-low-supply-keeps-market-conditions-tight","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/10\/bcrea-record-low-supply-keeps-market-conditions-tight\/","title":{"rendered":"BCREA Record-Low Supply Keeps Market Conditions Tight"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 October 12, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 9,164 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) in September 2021, a decrease of 19.9% from September 2020. The average MLS\u00ae residential price in BC was $913,471, a 14% increase from $801,241 recorded in September 2020. Total sales dollar volume was $8.4 billion, an 8.6% decline from last year.<\/p>\n<p style=\"text-align: justify;\">\u201cHome sales have settled at levels that are slightly above long-term average,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cThe main story in all markets continues to be a severe lack of listings supply, particularly in Fraser Valley, Vancouver Island and Interior markets.\u201d<\/p>\n<p style=\"text-align: justify;\">Total active residential listings were down 36.8% year-over-year in September for the province as a whole and were more than more than 50% below last September\u2019s levels in the Fraser Valley and Victoria.<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was up 81.8% to $90.4 billion, compared to the same period in 2020. Residential unit sales were up 52.4% to 99,182 units, while the average MLS\u00ae residential price was up 19.3% to $911,195.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2021-09.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\/record-low-supply-keeps-market-conditions-tight-in-september\/\" target=\"_blank\" rel=\"noopener\">Record-Low Supply Keeps Market Conditions Tight in September<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 October 12, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 9,164 residential unit sales were recorded by the Multiple Listing Service\u00ae (MLS\u00ae) &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/10\/bcrea-record-low-supply-keeps-market-conditions-tight\/\">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-18733","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>BCREA Record-Low Supply Keeps Market Conditions Tight &#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\/10\/bcrea-record-low-supply-keeps-market-conditions-tight\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Record-Low Supply Keeps Market Conditions Tight &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 October 12, 2021. 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