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B.C. property sales blistering

JOC News Service
B.C. property sales blistering

Vancouver – The British Columbia Real Estate Association reports that nearly 10,000 residential units changed hands across the province last month, a leap of almost 45 per cent compared to 2015.

The association’s numbers indicate that February’s performance was just shy of 1,500 units higher than the previous sales record for the month, set in 1992. The value of total sales also surged to $7.51-billion, up 76 per cent compared to last February.

So far this year, the real estate association says residential sales across the province have soared almost 74 per cent to $11.9 billion, compared with the same period in 2015. For the first two months of this year, the association reports the average residential price in B.C. ballooned 23.9 per cent to $769,424.

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