REAL ESTATE NEWS

The British Columbia Real Estate Association (BCREA) recently published an shocking report about the province’s housing market in September. It found that home sales soared to $49.7 billion for the first nine months of 2020, up 25 per cent from the same period a year ago. Instead of enduring a COVID-19 pause, the province’s housing market was instead hyperactive over the course of 2020.
BCREA data also highlighted that homebuyers acquired more than 65,000 properties from January to September, a 12.5 per cent jump year-over-year. ...

The average MLS price for a home in the province climbed almost 13 percent year-over-year in July. As many other sectors of the B.C. economy suffer, the residential property market keeps rebounding from its COVID-19 slump.
The province saw 10,090 residential unit sales in July, the British Columbia Real Estate Association (BCREA) reports, a 26.6-percent jump over the same month in 2019. ...

It’s as if the pandemic never happened. The real estate market continues to be a bright spot in B.C.
From January to September 2020, a total of $49.7 billion worth of homes sold across the province.
The number represents a 25.1 increase compared to the first nine months of 2019, which recorded $39.7 billion in transactions. ...

The record sale of an $8.4 million property at Pemberton in September highlights a strong B.C. luxury resort and residential market with accelerating sales and prices despite the COVID-19 pandemic.
“Since the economy has opened, we have seen unprecedented interest in properties with more land and privacy,” said John Ryan, an agent with Whistler Real Estate Co. ...