MLS Statistics
MLS Statistics:
In spite of a North America media focus on a credit crunch arising out of US subprime uncertainty, the overall BC housing market is strong supported by record low unemployment, strong job growth and positive migration. BC homebuyers stepped further into homeownership as most major centres recorded year over year sales increases for the month of September. Furthermore, strong wage gains and still relatively favourable mortgage rates have kept total average price on the rise. Home sales and related residential dollar volumes arising from home sales in BC are expected to remain solid to the end of the year. We will all watch with interest as to the extent of the downturn in the US housing market and whether a Canadian dollar at parity with the US will impact Canada's commercial activity from US consumers.
Please note that the statistics below compare the respective month in 2007 against the same month in 2006.
Greater Vancouver: September sales continued to be higher than the same month last year, unit sales were up 10% (2,852 in 2007 vs. 2,583 in 2006) and dollar volumes up 22% ($1.66 billion in 2007 vs. $1.36 billion in 2006).
Fraser Valley: Sales in September edged up slightly when compared to 2006, dollar volumes of $540 million were 7% higher than 2006 while unit volumes (1,262) were 2% higher than the same period last year.
Chilliwack: September saw a decrease in dollar volumes of 5% compared to last year ($68 million in 2007 vs. $72 million in 2006) and unit sales decreased 20% (215 in 2007 vs. 268 in 2006)
Victoria: The Victoria market continued to showed strong results in September with unit sales up 6% (583 in 2007 vs. 550 in 2006) and dollar volumes increased to $279 million, up $42 million or 18% from 2006.
Vancouver Island: The rest of the Vancouver Island market outside the Greater Victoria showed gains as well. Unit sales were up 16% (793 in 2007 vs. 684 in 2006) and dollar volumes up 18% ($240 million in 2007 vs. $204 million in 2006),
Okanagan (including South Okanagan): The Okanagan and South Okanagan markets have remained strong with September dollar volumes up 33% ($352 million in 2007 vs. $266 million in 2006) and unit sales 8% higher (867 in 2007 vs. 802 in 2006).
Kamloops: Dollar volumes for Kamloops climbed 22% over last year ($72 million in 2007 vs. $59 million in 2006) while units sales remained level (245 in 2007 vs. 246 in 2006).
BC Northern: Residential sales were lower in September when compared to the same period last year. Unit volumes were down 10% (477 in 2007 vs. 528 in 2006) while dollar volumes increased by 8% ($98 million in 2007 vs. $90 million in 2006).
Kootenay: Dollar value sales in the Kootenay's continued to be substantially higher in September in comparison to the same month in 2006. Unit volumes increased by 51% (317 in 2007 vs. 210 in 2006), while dollar volumes were up by 122% ($97 million in 2007 vs. $44 million in 2006).
In spite of a North America media focus on a credit crunch arising out of US subprime uncertainty, the overall BC housing market is strong supported by record low unemployment, strong job growth and positive migration. BC homebuyers stepped further into homeownership as most major centres recorded year over year sales increases for the month of September. Furthermore, strong wage gains and still relatively favourable mortgage rates have kept total average price on the rise. Home sales and related residential dollar volumes arising from home sales in BC are expected to remain solid to the end of the year. We will all watch with interest as to the extent of the downturn in the US housing market and whether a Canadian dollar at parity with the US will impact Canada's commercial activity from US consumers.
Please note that the statistics below compare the respective month in 2007 against the same month in 2006.
Greater Vancouver: September sales continued to be higher than the same month last year, unit sales were up 10% (2,852 in 2007 vs. 2,583 in 2006) and dollar volumes up 22% ($1.66 billion in 2007 vs. $1.36 billion in 2006).
Fraser Valley: Sales in September edged up slightly when compared to 2006, dollar volumes of $540 million were 7% higher than 2006 while unit volumes (1,262) were 2% higher than the same period last year.
Chilliwack: September saw a decrease in dollar volumes of 5% compared to last year ($68 million in 2007 vs. $72 million in 2006) and unit sales decreased 20% (215 in 2007 vs. 268 in 2006)
Victoria: The Victoria market continued to showed strong results in September with unit sales up 6% (583 in 2007 vs. 550 in 2006) and dollar volumes increased to $279 million, up $42 million or 18% from 2006.
Vancouver Island: The rest of the Vancouver Island market outside the Greater Victoria showed gains as well. Unit sales were up 16% (793 in 2007 vs. 684 in 2006) and dollar volumes up 18% ($240 million in 2007 vs. $204 million in 2006),
Okanagan (including South Okanagan): The Okanagan and South Okanagan markets have remained strong with September dollar volumes up 33% ($352 million in 2007 vs. $266 million in 2006) and unit sales 8% higher (867 in 2007 vs. 802 in 2006).
Kamloops: Dollar volumes for Kamloops climbed 22% over last year ($72 million in 2007 vs. $59 million in 2006) while units sales remained level (245 in 2007 vs. 246 in 2006).
BC Northern: Residential sales were lower in September when compared to the same period last year. Unit volumes were down 10% (477 in 2007 vs. 528 in 2006) while dollar volumes increased by 8% ($98 million in 2007 vs. $90 million in 2006).
Kootenay: Dollar value sales in the Kootenay's continued to be substantially higher in September in comparison to the same month in 2006. Unit volumes increased by 51% (317 in 2007 vs. 210 in 2006), while dollar volumes were up by 122% ($97 million in 2007 vs. $44 million in 2006).
