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

Just Posted

Proprietor of Sweet Truck, Morgan Ray, as she hands off her baked goods to a customer. (Photo courtesy of Avrinder Dhillon Photography)
Vancouver Island baker eyes move back from food truck to bricks and mortar

Storefront offers more stability amid growth in sales: Ray

Emissions from the City of Abbotsford's vehicles make up the largest share of the municipality's emissions.
File photo
Vancouver Island councillor leads campaign to reduce building-sector GHG emissions

Courtenay’s Will Cole-Hamilton pushing for building emission legislation

Pictures and notes in from friends and classmates make up a memorial in support and memory of Aubrey Berry, 4, and her sister Chloe, 6, during a vigil held at Willows Beach in Oak Bay, B.C., on December 30, 2017. THE CANADIAN PRESS/Chad Hipolito
Mother of slain daughters supports recent changes to Canada’s Divorce Act

Sarah Cotton-Elliott said she believed her children took a back seat to arranging equal parenting

Thousands protested in Victoria following the death of George Floyd in the U.S. (Black Press Media file photo)
B.C. not exempt: New report documents 150 years of racism and the fight against it

Booklet marks province’s 150th anniversary with call for transparency, change

The Port Alice pulp mill has been dormant since 2015. (North Island Gazette file photo)
Parts recycled, life returning to inlet as as old Port Alice mill decommissioned

Bankruptcy company oversees de-risking the site, water treatment and environmental monitoring

The James C Richardson Pipe Band marches in a Remembrance Day parade on Nov. 11, 2019 in Chilliwack. Wednesday, March 10 is International Bagpipe Day. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of March 7 to 13

International Bagpipe Day, Wash Your Nose Day and Kidney Day are all coming up this week

(The Canadian Press)
‘Worse than Sept. 11, SARS and financial crisis combined’: Tourism industry in crisis

Travel services saw the biggest drop in active businesses with 31 per cent fewer firms operating

A mobile home fire prompted a quick response from firefighters Saturday around 3:30 p.m. (Kevin Rothbauer/Citizen)
Mobile home up in flames at Duncan RV Park

One patient burned, EHS on scene

(Black Press Media files)
Medicine gardens help Victoria’s Indigenous kids in care stay culturally connected

Traditional plants brought to the homes of Indigenous kids amid the COVID-19 pandemic

Works crews have begun to install roads and other infrastructure to service the Nigel Valley redevelopment project that will bring nearly 800 new housing units to Saanich over the next several years. (Devon Bidal/News Staff)
Prep work begins on massive Nigel Valley development in Saanich

Construction of first two developments expected to begin fall 2021, B.C. Housing says

Gregory Ould, co-founder and executive director of Blanket BC, drops off warming blankets to Our Home on Eighth shelter in Port Alberni during a tour of Vancouver Island on Feb. 19, 2021. (SUSAN QUINN/ Alberni Valley News)
Blanket BC delivers warmth, hope to Vancouver Island’s homeless

Gregory Ould donated blankets, toques in five communities

Duncan Christian’s Grace George lines up a shot during the three-point portion of the BC School Sports Pandemic Basketball Challenge after taking a pass from Cam Stevens. (Kevin Rothbauer/Citizen)
Duncan Christian leads the way in pandemic basketball challenge

School tops participation numbers for second time this year

The shadow cast of the Satyr Players production of ‘The Rocky Horror Picture Show’: Linda Dohmeier as Dr. Scott, Olivia Erickson as Columbia, Brandon Caul as Rocky, Christopher Carter as Brad, Charlie Prince as Eddie, Branden Martell as Riff Raff, Jenna Morgan as Magenta, Megan Rhode as Janet and Adrien Kennedy as Dr. Frank-N-Furter (clockwise from left). (Josef Jacobson/The News Bulletin)
VIU student actors go online for 25th-annual ‘Rocky Horror Picture Show’

Satyr Players theatre company to broadcast pre-recorded shadow production

Most Read