BC Housing Market Update for March 2021
Summary: BC home sales jumped 123.3% from the same month last year when we first had COVID shutdown and up 38.1% from the previous month of February. The average MLS® residential price in the province was $947,707, up 20.4% from March 2020. Many regions such as Greater Vancouver, Okanagan, Fraser Valley and Chilliwack all shattered previous records in terms of unit sales and average sale price.
BCREA Chief Economist Brendon Ogmundson stated that “While mortgage rates have risen in recent months and a modest tightening of mortgage regulations is on the horizon, market activity is expected to remain very strong through the spring.”
For the complete news release, including detailed statistics, click here