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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The Fox Mountain Trail Network will undergo a significant machine- and hand-built upgrade thanks to a $253,000 grant from the province’s Rural Economic Recovery program. (Scott Horley photo)
Major Fox Mountain bike trail upgrade project slated to begin this May

A machine-built downhill trail, along with an improved uphill route, are part of the project

Four projects in Williams Lake have received Community Economic Recovery Infrastructure Program funding. (City of Williams Lake photo)
$1.35 million CERIP funds going to projects in Williams Lake

Mayor Walt Cobb thanked the province for its investment in the community

100 Mile RCMP are looking for Haileigh Archie, 18, who was reported missing from her home near Lone Butte. (Photo submitted)
100 Mile RCMP looking for missing teen Haileigh Archie

Archie was reported missing from her home in Lone Butte area on March 4.

City of Williams Lake considering using remainder of COVID Safe Restart Grant to make up for unpaid taxes. (City of Williams Lake photo)
Williams Lake weighs allocating rest of COVID safe restart grant in capital programs

The $546,205 left of the $2.6 million could make up for $746,874 in outstanding taxes

Chief Joe Alphonse
OP-ED: Williams Lake municipal, regional councils lack awareness on historical trauma

Systemic racism isn’t always obvious to those that are not experiencing it

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry head for the B.C. legislature press theatre to give a daily update on the COVID-19 pandemic, April 6, 2020. (B.C. government)
B.C. nears 300,000 COVID-19 vaccinations, essential workers next

564 new cases, four deaths, no new outbreaks Thursday

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

President of the BC Teacher’s Federation (BCTF) Teri Mooring is calling for teachers to be vaccinated for COVID-19 by summer. THE CANADIAN PRESS/Chad Hipolito
Why it’s ‘urgent’ B.C. teachers get vaccinated from COVID-19 before summer

President Teri Mooring says not enough is being done to prevent virus transmission in schools

FILE - In this Jan. 18, 2014, file photo, endangered orcas from the J pod swim in Puget Sound west of Seattle, as seen from a federal research vessel that has been tracking the whales. A new study from federal researchers provides the most detailed look yet at what the Pacific Northwest's endangered orcas eat. Scientists with the NOAA Fisheries Northwest Fisheries Science Center spent years collecting fecal samples from the whales as well as scales from the fish they devoured. They say their data reaffirm the central importance of Chinook salmon to the whales. (AP Photo/Elaine Thompson, File)
Study reinforces importance of Chinook to Pacific Northwest orcas

Data confirms how central the big salmon are to the orca’s diet year-round

Shiromali Krishnaraj arrives from India and receives a mandatory COVID-19 test at Pearson International Airport during the COVID-19 pandemic in Toronto on Monday, Feb. 1, 2021. B.C.’s approved rapid tests also use a nasal swab, with a machine to scan for COVID-19 antibodies. THE CANADIAN PRESS/Nathan Denette
B.C.’s rapid COVID-19 tests have produced only two positive results

Tests deployed for exposures in schools, outbreaks in care homes, jails

BC Emergency Health Services confirmed that a call was received just before 10 a.m. Ground paramedics, as well as an air ambulance, are on the way to the area. (SUSAN QUINN/ Alberni Valley News)
BREAKING: Helicopter goes down on Bowen Island

Unclear how many passengers aboard and unclear where the helicopter was going

The Nanaimo bar display at the Nanaimo Museum. (City of Nanaimo Instagram)
City of Nanaimo points to correct recipe after New York Times botches batch of bars

City addresses ‘controversy’ around dessert square’s layers

A man holds a picture of Chantel Moore during a healing gathering at the B.C. Legislature in Victoria on June 18, 2020. THE CANADIAN PRESS/Chad Hipolito
B.C. First Nation demands transparency in probe into second fatal RCMP shooting

‘Police have killed more Tla-o-qui-aht First Nation members than COVID’

Provincial health officer Dr. Bonnie Henry updates B.C. on the COVID-19 situation. (B.C. government)
Dr. Bonnie Henry predicts a ‘post-pandemic world’ for B.C. this summer

‘Extending this second dose provides very high real-world protection to more people, sooner’

Most Read