Karen Tsao | 604-422-0855

BC Housing Market Update for Dec 2018

BC Housing Market Update for December 2018

For the complete news release, including detailed statistics, click here.


The British Columbia Real Estate Association (BCREA) reports that a total of 78,345 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2018, a decline of 24.5% from the 103,758 units sold in 2017. The annual average MLS® residential price in BC was $712,508, an increase of 0.4% from $709,601 recorded the previous year. Total sales dollar volume was $55.8 billion, a 24.2% decline from 2017.

“BC home sales fell below the 10-year average of 84,800 units in 2018,” said Cameron Muir, BCREA Chief Economist. “The sharp decline in affordability caused by the B20 mortgage stress test is largely to blame for decline in consumer demand last year.”

A total of 3,497 MLS® residential unit sales were recorded across the province in December, down 39.1% from December 2017. The average MLS® residential price in BC was $695,647, a decline of 5.2% from December 2017. Total sales dollar volume was $2.4 billion, a 42.3% decline during the same period.

Total active residential listings were up 33.3% to 27,615 units in December, the highest December inventory since 2014 when 33,995 active residential listings were recorded.








Karen Tsao
Cell:604-422-0855
Office:604-602-1111
RE/MAX Crest Realty
1428 West 7th Avenue
Vancouver, BC
V6H 1C1 CA
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.