The British Columbia real estate market ended the year by recording residential home sales figures in December that were the second lowest monthly sales volume in 2011. December saw a continuation of residential sales declines for the sixth consecutive month as actual BC home sales figures have continued to decrease since June 2011, when we saw the last Provincial monthly home sales gain.
The British Columbia Real Estate Association (BCREA) reported that there were 4,186 residential property sales thru the provincial Multiple Listing Service (MLS) in December 2011, down -25.8% from the 5,640 units sold in November 2011.
This years December MLS home sales of 4,186 units across British Columbia is down by -1.7% from the same month last year when there were 4,258 units sold in December 2010.
British Columbia Real Estate – BCREA December 2011 – MLS Residential Home Sales Drop -25.8% (-1,454 units) to 4,186 total.
Last year at this time, December 2010, BC Provincial home sales saw a -24.6% decrease over the previous month of November 2010.
2010-2011 BCREA – Total MLS Residential Sales for British Columbia:
| January | 4,619 | -19.0% |
| February | 5,955 | +28.9% |
| March | 7,110 | +19.4% |
| April | 8,385 | +17.9% |
| May | 7,950 | -5.2% |
| June | 7,722 | -2.9% |
| July | 5,784 | -25.1% |
| August | 5,590 | -3.4% |
| September | 5,511 | -1.4% |
| October | 5,507 | -0.1% |
| November | 5,647 | +2.5% |
| December | 4,258 | -24.6% |
| January | 4,137 | -2.8% |
| February | 6,410 | +54.9% |
| March | 8,600 | +34.2% |
| April | 7,187 | -16.4% |
| May | 7,857 | +9.3% |
| June | 7,904 | +0.6% |
| July | 6,533 | -17.3% |
| August | 6,504 | -0.4% |
| September | 5,995 | -4.8% |
| October | 5,865 | -2.2% |
| November | 5,640 | -3.8% |
| December | 4,186 | -25.8% |
There are currently eleven (11) member boards represented by the BC Real Estate Association (BCREA) including:
- BC Northern – BCNREB
- Chilliwack and District – CADREB
- Fraser Valley – FVREB
- Greater Vancouver – REBGV
- Kamloops and District
- Kootenay – KREB
- Okanagan Mainline – OMREB
- Powell River Sunshine Coast – PRSCREB
- South Okanagan – SOREB
- Vancouver Island – VIREB
- Victoria – VREB
Here is a summary of residential MLS home sales activity for every real estate board in British Columbia as reported by the BCREA.
BCREA – December 2011 – Sales Increase/Decrease (over previous month):
- BC Northern Real Estate – BCNREB December 2011 home sales down -33.33% (-105 units) to 210 total.
- Chilliwack Real Estate – CADREB December 2011 home sales down -6.98 (-9 units) to 120 total.
- Fraser Valley Real Estate – FVREB December 2011 home sales down -21.54% (-224 units) to 816 total.
- Greater Vancouver Real Estate – REBGV December 2011 home sales down -29.02% (-695 units) to 1,700 total.
- Kamloops Real Estate – December 2011 home sales down -30.87% (-46 units) to 103 total.
- Kootenay Real Estate – KREB December 2011 home sales up +31.52% (+52 units) to 217 total.
- Okanagan Mainline Real Estate – OMREB December 2011 home sales down -30.35% (-112 units) to 257 total.
- Powell River Real Estate – PRSCREB December 2011 home sales down -52.94% (-18 units) to 16 total.
- South Okanagan Real Estate – SOREB December 2011 home sales down -3.49% (-3 units) to 83 total.
- Vancouver Island Real Estate – VIREB December 2011 home sales down -30.96% (-139 units) to 310 total.
- Victoria Real Estate – VREB December 2011 home sales down -29.61% (-135 units) to 321 total.
Provincial home sales fell in every real estate market in December 2011 except for the Kootenay board area, which saw a +31.52% sales increase for the month.
Monthly home sales in British Columbia’s two largest real estate markets, both fell in December 2011, down by -21.54% in the Fraser Valley and down by -29.02% in Greater Vancouver markets.
British Columbia – MLS Sales Activity by Real Estate Board – December 2011:
| BC Northern | 210 | -105 | -33.33% |
| Chilliwack | 120 | -9 | -6.98% |
| Fraser Valley | 1816 | -224 | -21.54% |
| Greater Vancouver | 1,700 | -695 | -29.02% |
| Kamloops | 103 | -46 | -30.87% |
| Kootenay | 217 | +52 | +31.52% |
| Okanagan Mainline | 257 | -112 | -30.35% |
| Powell River | 16 | -18 | -52.94% |
| South Okanagan | 83 | -3 | -3.49% |
| Northern Lights | 33 | -20 | -37.74% |
| Vancouver Island | 310 | -139 | -30.96 |
| Victoria | 321 | -135 | -29.61% |
| Provincial Total: | 4,186 | -1,454 | -25.78% |
The 1,700 units sold in Greater Vancouver along with the 816 units sold in the Fraser Valley resulted in combined total of 2,516 sales in December 2011, down -26.75% from the combined total of 3,435 these two real estate boards areas achieved in November 2011.
In December 2011 the 2,516 combined sales from the Greater Vancouver and Fraser Valley regions represented 60.1% of the total 4,186 residential MLS home sales in British Columbia. This was down slightly from 60.9% in November, up from 58.1% in October, 56.8% in September 2011, 56.9% in August 2011, 59.1% in July 2011, but still down from 61.0% in June 2011 and 62.91% in May 2011.
In their January 13, 2012 press release, the British Columbia Real Estate Association reported that BC Provincial residential MLS sales dollar volumes decreased by -4.4% to $2.13 billion in December 2011, compared to the same month last year when it was $2.23 billion in December 2010.
Real Estate seems to be picking up in the Canadian economy these days. Particularily in Alberta. Just looking at how things are outside of Calgary and surrounding area.