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February MLS Stats

February MLS Statistics:

 

 

 

The number of residential unit sales continued to decline in February for the second consecutive month. The number of residential units sold in B.C. on the Multiple Listing Service® (MLS®) dropped 9.8% to 6,822. Residential sales dollar volume reached $3.26 billion this month, a 4.5% increase compared to the same month last year, while the average residential home price hit $478,172, up 15.8% compared to February 2007.

 

 

 

Greater Vancouver:  The number of residential units sold in February reached 2,733, a drop of 5.9% compared to the same month last year, while dollar volumes climbed 10.3% to $1.7 billion. The average residential home price reached $623,517 this month, an increase of 17.3% compared to February of last year.

 

 

 

Fraser Valley:  The number of units sold in February declined 9% compared to the same month last year with 1,237 units sold. Dollar volumes also dropped 2.1% to $540.3 million, while the average residential home price increased 7.6% compared to February of last year reaching $436,824.

 

 

 

Chilliwack:  February sales declined 19.9% to 218 units, while dollar volumes reached $69.7 million, a 9.3% drop compared to the same month last year. Despite this, the average residential home price continued to climb in February reaching $319,503, a 13.1% increase compared to February of last year. 

 

 

 

Victoria:  Sales in February reached 580 units, a 12.7% decline compared to the same month last year. Dollar volumes also dropped 1.5% to $283 million, while the average residential home price reached $487,696, a 12.8% increase compared to February of last year.

 

 

 

Vancouver Island:  The number of residential units sold in February reached 647, a decline of 10.3% compared to the same month last year. Dollar volumes increased 2% reaching $212.2 million, while the average residential home price rose 13.7% to $328,046.

 

 

 

Okanagan (including South Okanagan): The Okanagan and South Okanagan markets recorded 721 units sold in February, a decrease of 7.6% compared to February of last year, while dollar volumes remained stable at $268 million, an increase of 0.1%.

 

 

 

Kamloops: Dollar volumes climbed 15.5% compared to the same month last year reaching $73.5 million in February. Sales dropped 9.1% with 229 units sold, while the average residential home price jumped 27.1% compared to the same month last year reaching $321,092.

 

 

 

BC Northern: Residential sales continued to decline in February with 286 units sold, a drop of 22.3% compared to February of last year. Dollar volumes also declined 4.4% to $63 million, while the average residential home price recorded a 23% increase reaching $220,478.

 

 

 

Kootenay:  The number of residential units sold in February reached 136, a 33.3% drop compared to the same month last year. Dollar volumes also declined 15.8% reaching $41.1 million, while the average residential home price jumped 26.3% compared to February of last year hitting $302,462.

 

 

 

Board

 

Dollar Volume (000s)

 

 % Chg.

 

Units

 

 % Chg.

 

Average Price

 

% Chg.

 

 

 

Feb. 08

 

 Feb. 07

 

 

 

Feb. 08

 

 Feb. 07

 

 

 

Feb. 08

 

 Feb. 07

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BC Northern

 

$63,057

 

$65,958

 

-4.4

 

286

 

368

 

-22.3

 

$220,478

 

$179,234

 

23

 

Chilliwack

 

$69,652

 

$76,810

 

-9.3

 

218

 

272

 

-19.9

 

$319,503

 

$282,388

 

13.1

 

Fraser Valley

 

$540,351

 

$551,871

 

-2.1

 

1,237

 

1,359

 

-9

 

$436,824

 

$406,086

 

7.6

 

Greater Vancouver

 

$1,704,072

 

$1,544,553

 

10.3

 

2,733

 

2,905

 

-5.9

 

$623,517

 

$531,688

 

17.3

 

Kamloops

 

$73,530

 

$63,671

 

15.5

 

229

 

252

 

-9.1

 

$321,092

 

$252,664

 

27.1

 

Kootenay

 

$41,135

 

$48,867

 

-15.8

 

136

 

204

 

-33.3

 

$302,462

 

$239,544

 

26.3

 

Norther Lights

 

$3,995

 

$4,723

 

-15.4

 

20

 

21

 

-4.8

 

$199,750

 

$224,914

 

-11.2

 

Okanagan Mainline

 

$221,583

 

$219,557

 

0.9

 

575

 

614

 

-6.4

 

$385,362

 

$357,585

 

7.8

 

Powell River

 

$3,430

 

$3,251

 

5.5

 

15

 

17

 

-11.8

 

$228,673

 

$191,229

 

19.6

 

South Okanagan

 

$46,178

 

$47,860

 

-3.5

 

146

 

166

 

-12

 

$316,285

 

$288,313

 

9.7

 

Vancouver Island

 

$212,246

 

$208,100

 

2

 

647

 

721

 

-10.3

 

$328,046

 

$288,626

 

13.7

 

Victoria

 

$282,864

 

$287,146

 

-1.5

 

580

 

664

 

-12.7

 

$487,696

 

$432,448

 

12.8

 

Provincial Total

 

$3,262,091

 

$3,122,366

 

4.5

 

6,822

 

7,563

 

-9.8

 

$478,172

 

$412,847

 

15.8

 

 

 

Source: British Columbia Real Estate Association (BCREA)