With provincial home sales and average MLS prices dropping in the last month of 2011, it may be no surprise that the total number of homes for sale across British Columbia also dropped in December 2011.
The British Columbia Real Estate Association (BCREA) reported that there were 40,177 active residential MLS listings on the provincial Multiple Listing Service (MLS) in December 2011, down -15.6% from the 47,597 active listings in November 2011. The only month with fewer homes for sale for the entire year of 2011 was in January, with 38,746 active MLS listings in BC.
A seasonal decline can be considered somewhat normal. December 2010 saw total active MLS listing in BC decline by -14.9% over the previous month of November 2010.
British Columbia Real Estate – BCREA December 2011 – Active Provincial MLS Listings Drop -15.6% (-7,420 units) to 40,177 total.
Compared to the same month in the previous year, total active MLS listings of homes for sale in British Columbia increased by +6.33% to 40,177 in December 2011 from 37,785 in December 2010.
2010-2011 BCREA – Total MLS Active Listings for British Columbia:
| January | 36,403 | |
| February | 41,142 | +13% |
| March | 47,932 | +16.5% |
| April | 54,270 | +13.2% |
| May | 58,362 | +7.5% |
| June | 59,232 | +1.5% |
| July | 57,801 | -2.4% |
| August | 55,357 | -4.2% |
| September | 52,991 | -4.3% |
| October | 48,861 | -7.8% |
| November | 44,406 | -9.1% |
| December | 37,785 | -14.9% |
| January | 38,746 | +2.5% |
| February | 43,730 | +12.9% |
| March | 47,488 | +8.6% |
| April | 51,268 | +8.0% |
| May | 53,894 | +5.1% |
| June | 55,816 | +3.6% |
| July | 56,845 | +1.8% |
| August | 55,933 | -1.6% |
| September | 55,616 | -0.57% |
| October | 52,256 | -6.00% |
| November | 47,597 | -8.92% |
| December | 40,177 | -15.6% |
Here is a summary of total active MLS listings activity for every real estate board in British Columbia as reported by the BCREA.
December 2011 – BCREA – Total Active Listings (+/- over previous month):
- BC Northern Real Estate – BCNREB December 2011 – Active MLS listings down -19.45% (-457 units) to 1,893 total.
- Chilliwack Real Estate – CADREB December 2011 – Active MLS listings down -23.69% (-413 units) to 1,330 total.
- Fraser Valley Real Estate – FVREB December 2011 – Active MLS listings down -22.79% (-1,759 units) to 5,958 total.
- Greater Vancouver Real Estate – REBGV December 2011 – Active MLS listings down -18.24% (-2,695 units) to 12,082 total.
- Kamloops Real Estate – December 2011 – Active MLS listings down -14.56% (-275 units) to 1,614 total.
- Kootenay Real Estate – KREB December 2011 – Active MLS listings up -23.13% (+636 units) to 3,386 total.
- Okanagan Mainline Real Estate – OMREB December 2011 – Active MLS listings down -15.18% (-824 units) to 4,605 total.
- Powell River Real Estate – PRSCREB December 2011 – Active MLS listings down -9.71% (-20 units) to 186 total.
- South Okanagan Real Estate – SOREB December 2011 – Active MLS listings down -15.81% (-287 unit) to 1,528 total.
- Vancouver Island Real Estate – VIREB December 2011 – Active MLS listings down -15.08% (-798 units) to 4,495 total.
- Victoria Real Estate – VREB December 2011 – Active MLS listings down -14.73% (-501 units) to 2,901 total.
Total active MLS listings declined in every real estate board across British Columbia in December 2011 except the Kootenay (KREB) region, which saw a +23.13% increase of 636 more listings than the previous month.
The largest decrease in the number of listings in December 2011 occurred in the Greater Vancouver (REBGV) region, which saw a drop of -2,695 listings or -18.24% from the previous month.
British Columbia – Total Active Listings by Real Estate Board – December 2011:
| BC Northern | 1,893 | -457 | -19.45% |
| Chilliwack | 1,330 | -413 | -23.69% |
| Fraser Valley | 5,958 | -1,759 | -22.79% |
| Greater Vancouver | 12,082 | -2,695 | -18.24% |
| Kamloops | 1,614 | -275 | -14.56% |
| Kootenay | 3,386 | -636 | -23.13% |
| Okanagan Mainline | 4,605 | -824 | -15.18% |
| Powell River | 186 | -20 | -9.71% |
| South Okanagan | 1,528 | -287 | -15.81% |
| Northern Lights | 199 | -27 | -11.95% |
| Vancouver Island | 4,495 | -798 | -15.08% |
| Victoria | 2,901 | -501 | -14.73% |
| Provincial Total: | 40,177 | -7,420 | -15.59% |
In December, the British Columbia real estate market saw the second largest month-over-month percentage decline in active provincial MLS listings in all of 2011. It was also the fifth-consecutive month of declines in active listings as BC sellers exited the market leaving less available inventory of homes for sale.
