The British Columbia Real Estate Association (BCREA) reports a total of 9,663 residential unit sales were recorded by the Multiple Listing Service (MLS) last month.
That is a decrease of 7.2 percent over July 2020. The average MLS residential price in BC was $891,687. A 17.1 percent increase from $761,772 recorded in July 2020.
Total sales dollar volume was $8.6 billion. An 8.6 percent increase from last year.
“Provincial market activity slowed in July with both sales and listings declining on a seasonally adjusted basis,” said BCREA Chief Economist Brendon Ogmundson. “While sales remain robust, listings activity continues to be a concern as inventories trend near record lows.”
Total active residential listings were down 32.2 percent year-over-year in July and continued to fall on a monthly seasonally adjusted basis.
Year-to-date, BC residential sales dollar volume was up 124.7 percent to $73.4 billion, compared with the same period in 2020.
Residential unit sales were up 85.4 percent to 80,461 units, while the average MLS residential price was up 21.2 percent to $912,379.