{"id":23900,"date":"2024-05-15T10:10:00","date_gmt":"2024-05-15T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=23900"},"modified":"2024-05-15T07:57:41","modified_gmt":"2024-05-15T14:57:41","slug":"bcrea-average-residential-price-up-4-5-y-y-housing-market-is-heading-into-the-summer-with-more-choice-for-buyers","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2024\/05\/bcrea-average-residential-price-up-4-5-y-y-housing-market-is-heading-into-the-summer-with-more-choice-for-buyers\/","title":{"rendered":"BCREA Average Residential Price Up 4.5% Y\/Y, Housing Market is Heading Into The Summer with More Choice for Buyers"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 May 15, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,569 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems in April 2024, an increase of 1.5% from April 2023. The average MLS\u00ae residential price in BC in April 2024 was up 1.4% at $1 million, compared to an average price of $992,440 in April 2023. The total sales dollar volume was $7.6 billion, an increase of 3% from the same time the previous year.<\/p>\n<p style=\"text-align: justify;\">&#8220;April was an above-average month for new listings activity, registering the highest pace since 2021,&#8221; said BCREA Chief Economist Brendon Ogmundson. &#8220;Sales are still slightly below normal, which has led to a substantial increase in total inventory, though at a level still far below long-run balance. Ultimately, the market is heading into the summer in a state of relative calm with much more choice for buyers.&#8221;<\/p>\n<p style=\"text-align: justify;\">Year-to-date, BC residential sales dollar volume was up 9.5% to $23.4 billion, compared with the same period in 2023. Residential unit sales were up 4.8% to 23,507 units, while the average MLS\u00ae residential price was up 4.5% to $997,132.<\/p>\n<p><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2024-04.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> for the complete news release, including detailed statistics.<\/p>\n<p><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/new-listings-bounce-higher-in-april\/\" target=\"_blank\" rel=\"noopener\">New Listings Bounce Higher in April<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 May 15, 2024. The British Columbia Real Estate Association (BCREA) reports that 7,569 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) systems in April 2024, &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2024\/05\/bcrea-average-residential-price-up-4-5-y-y-housing-market-is-heading-into-the-summer-with-more-choice-for-buyers\/\">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":[8,13],"tags":[],"class_list":["post-23900","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Average Residential Price Up 4.5% Y\/Y, Housing Market is Heading Into The Summer with More Choice for Buyers &#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\/2024\/05\/bcrea-average-residential-price-up-4-5-y-y-housing-market-is-heading-into-the-summer-with-more-choice-for-buyers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Average Residential Price Up 4.5% Y\/Y, Housing Market is Heading Into The Summer with More Choice for Buyers &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 May 15, 2024. 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