FILE – A real estate sign is pictured in Vancouver, B.C., on June, 12, 2018. THE CANADIAN PRESS Jonathan Hayward

FILE – A real estate sign is pictured in Vancouver, B.C., on June, 12, 2018. THE CANADIAN PRESS Jonathan Hayward

B.C. residential real estate prices have gone up by 16% since last January: report

BCREA said unit sales and dollar sales volume were much higher than January last year

House prices in B.C. have increased by 16.1 per cent over the past year, according to figures released by the B.C. Real Estate Association Thursday (Feb. 11).

The data showed that the average residential price last month was $845,169, compared to $728,269 in January 2020. The region that saw the biggest spike was the Kootenays, where homes increased by 28.5 per cent since January 2020 to $427,544 last month. The Fraser Valley saw an jump of 25.8 per cent to $944,996, while the notoriously expensive properties in Metro Vancouver went up 11.2 per cent to cross the million-dollar mark to $1,089,096.

On Vancouver Island, prices have increased by 10.9 per cent to $528,930, while the North saw a 12.6 per cent increase to $339,608, and the Interior went up 26.7 per cent to $500,789. The only region to see a drop was South Peace River, which fell by 22.2 per cent to $197,874.

While home prices went up, the number of active residential listings went down by 21.5 per cent compared to a year ago, with the 20,254 units listed in January – the lowest level of provincial active listings on record, going back to 2000.

However, the number of unit sales shot up by 63.3 per cent to 7,169 compared to January 2020, and ended up being thousand sales higher than the previous record for the month of January. Total sales dollar volume hit $6.1 billion in January 2021, an 89.6 per cent increase from last year.

READ MORE: Female Realtors in the Lower Mainland receiving harassing phone calls, explicit texts


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A nurse performs a test on a patient at a drive-in COVID-19 clinic in Montreal, on Wednesday, October 21, 2020. THE CANADIAN PRESS/Paul Chiasson
36 new cases of COVID-19, one death in Interior Health

The number of active cases in the region is at 366

A health worker holds a vial of AstraZeneca vaccine to be administered to members of the police at a COVID-19 vaccination center in Mainz, Germany, Thursday, Feb. 25, 2021. (Andreas Arnold/dpa via AP)
43 new COVID-19 cases in Interior Health

368 cases in the region remain active

Ashcroft RCMP are warning businesses to be aware of a suspect passing counterfeit $50 and $100 bills in the Ashcroft and Cache Creek area. (Photo credit: Stock image)
Counterfeit money being circulated in Ashcroft/Cache Creek area

Police are warning local businesses to be on the alert for counterfeit cash

The former Ashcroft Elementary School building, which closed as a school in 2015 and is now operated as the Ashcroft HUB, pictured during Skip’s Run, June 2017. The board of education of SD74 voted on March 2 to sell the property to the society for a ‘nominal fee’. (Photo credit: Barbara Roden)
School district votes to sell Ashcroft HUB for ‘nominal fee’ to HUB Society

Amendment to motion seeks to keep school district’s financial interests in property secure

Cache Creek council say that budget meetings have to take place before a public meeting about the fate of the pool — first promised in May 2019 — can be held. (Photo credit: Journal files)
No date set for public meeting to discuss fate of Cache Creek pool

Council says public meeting cannot take place until budget discussions have been held

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry head for the B.C. legislature press theatre to give a daily update on the COVID-19 pandemic, April 6, 2020. (B.C. government)
B.C. nears 300,000 COVID-19 vaccinations, essential workers next

564 new cases, four deaths, no new outbreaks Thursday

Walter Gretzky father of hockey hall-of-famer Wayne Gretzky waves to fans as the Buffalo Sabres play against the Toronto Maple Leafs during third period NHL hockey action in Toronto on Tuesday, Jan. 17, 2017. THE CANADIAN PRESS/Nathan Denette
Walter Gretzky, father of the Great One, dies at 82

Canada’s hockey dad had battled Parkinson’s disease and other health issues

Kelowna General Hospital (File photo)
Second death reported in Kelowna General Hospital COVID-19 outbreak

A total of seven cases have been identified at the hospital: six patients and one staff

Municipal Affairs Minister Josie Osborne speaks in the B.C. legislature, March 4, 2021. (Hansard TV)
B.C. Liberals, NDP sing in harmony on local election reforms

Bill regulates paid canvassers, allows people in condo buildings

(National Emergency Management Agency)
No tsunami risk to B.C. from powerful New Zealand earthquake: officials

An 8.1 magnitude earthquake shook the north of New Zealand Thursday morning

(AP Photo/Richard Vogel, File)
Pandemic stress, isolation key factors as to why Canadians turned to cannabis, alcohol

Study found that isolation played key role in Canadians’ substance use

(File photo)
Kamloops Mountie bitten while arresting woman

The assault on March 1 is the latest in a string of incidents that have left local officers injured

Grand Forks’ Gary Smith stands in front of his Church of the Flying Spaghetti Monster float. Photo: Submitted
Grand Forks’ Flying Spaghetti Monster leader still boiling over driver’s licence photo

Gary Smith, head of the Church of the Flying Spaghetti Monster of B.C., said he has since spoken to lawyers

Most Read