BC Housing Starts and Unit Sales In Around Town
September’s BC MLS® unit sales were 25 per cent lower than the ten-year average. Markets on Vancouver Island and in the North are recording more historically normal activity while the Lower Mainland and parts of the Interior lag behind.
Province-wide, BC residential sales dollar volume is sitting at $56 billion, down 3.2 per cent when compared with 2023. Unit sales are also down 4.1 per cent year-over-year, with 57,069 units sold, while the average MLS® residential price is up 1 per cent to $981,393. The average selling price on the Island is up 3.2% ($723,991), with unit sales up by 17.6% (616 units).
In contrast, Canadian housing starts were down 16 per cent from September 2023. Starts in BC rose 12% year-over-year province-wide, and 27% from August to September 2024. However, starts in Victoria are down slightly with 3066 so far this year, compared to 3153 by September 2023. Generally, the real estate industry has not seen an impact on home sales from lower mortgage rates.
Building Links Construction Reports and Statistics: The weekly #1 construction projects resource for 30 years. New and updated projects, permits, tenders, and industry connections for Vancouver Island – Central North, West Coast and Powell River. Helping you build connections so you can build communities! Where are you getting your information from? Support local trades – Subscribe Now!
