{"id":21193,"date":"2023-01-18T10:10:00","date_gmt":"2023-01-18T18:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=21193"},"modified":"2023-01-17T15:37:03","modified_gmt":"2023-01-17T23:37:03","slug":"bc-home-sales-activity-down-35-2-average-residential-price-up-by-7-5-y-y","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/01\/bc-home-sales-activity-down-35-2-average-residential-price-up-by-7-5-y-y\/","title":{"rendered":"BC Home Sales Activity Down 35.2%, Average Residential Price Up by 7.5% Y\/Y"},"content":{"rendered":"<p style=\"text-align: justify;\">British Columbia\u2019s real estate market couldn\u2019t keep up its record-breaking sales activity in 2022.<\/p>\n<p style=\"text-align: justify;\">According to The British Columbia Real Estate Association (BCREA) 80,874 residential unit sales were recorded by the Multiple Listings Service (MLS) in 2022 \u2013 down 35.2% from the 124, 788 units sold in 2021.<\/p>\n<p style=\"text-align: justify;\">\u201c2022 could not match last year\u2019s record pace,\u201d Brendon Ogmundson, BCREA chief economist said. \u201cWhile strong momentum from the end of 2021 carried through to the first quarter of the year, the pace and degree of Bank of Canada interest rate tightening ultimately precipitated a dramatic shift in the provincial housing market.\u201d<\/p>\n<p style=\"text-align: justify;\">In 2022, total sales dollar volume was $80.6 billion, 30.3% less than 2021.<\/p>\n<p style=\"text-align: justify;\">The average MLS residential price in BC during 2022 was $996,878 \u2013 up by 7.5% from 2021\u2019s average of $927,513.<\/p>\n<p style=\"text-align: justify;\">Greater Vancouver, Fraser Valley and Victoria were still the top three most expensive markets in December 2022, even after prices started to decline towards the end of the year.<\/p>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"523\" height=\"788\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2023\/01\/livabl.jpg\" alt=\"\" class=\"wp-image-21194\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2023\/01\/livabl.jpg 523w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2023\/01\/livabl-191x288.jpg 191w\" sizes=\"auto, (max-width: 523px) 100vw, 523px\" \/><\/figure>\n<\/div>\n\n<p><a href=\"https:\/\/www.livabl.com\/2023\/01\/british-columbia-home-sales-35-2-record-levels-2021.html\" target=\"_blank\" rel=\"noopener\">British Columbia Home Sales Down 35.2% from Record Levels in 2021<\/a> by Cassie Apperloo | Livabl<\/p>","protected":false},"excerpt":{"rendered":"<p>British Columbia\u2019s real estate market couldn\u2019t keep up its record-breaking sales activity in 2022. According to The British Columbia Real Estate Association (BCREA) 80,874 residential unit sales were recorded by &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/01\/bc-home-sales-activity-down-35-2-average-residential-price-up-by-7-5-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-21193","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>BC Home Sales Activity Down 35.2%, Average Residential Price Up by 7.5% 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\/2023\/01\/bc-home-sales-activity-down-35-2-average-residential-price-up-by-7-5-y-y\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BC Home Sales Activity Down 35.2%, Average Residential Price Up by 7.5% Y\/Y &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"British Columbia\u2019s real estate market couldn\u2019t keep up its record-breaking sales activity in 2022. 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