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

A man wearing a mask against coronavirus walks past an NHS advertisement about COVID-19 in London, Tuesday, Feb. 2, 2021. (AP Photo/Alastair Grant)
92 new COVID-19 cases, no new deaths: Interior Health

The region is reporting 92 cases after the weekend

The Regional District of Okanagan-Similkameen has implemented extended hours at four landfills, beginning March 1, 2020. (Regional District of Okanagan-Similkameen photo)
Regional District of Okanagan-Similkameen extends landfill hours

Summer hours at four facility take effect March 1, 2021.

An injured skier was helivaced from Apex Mountain Resort to Kelowna General Hospital Monday, March, 2021. (Linda Geggie / Facebook)
Injured skier helivaced from Apex Mountain Resort

The skier was taken to Kelowna General Hospital

Island Health chief medical officer Dr. Richard Stanwick receives a first dose of Pfizer vaccine, Dec. 22, 2020. (B.C. government)
COVID-19: B.C. seniors aged 90+ can start to sign up for vaccination on March 8

Long-term care residents protected by shots already given

Okanagan Falls fire department put on an ice rescue course at Yellow Lake this weekend.
South Okanagan firefighters submerged in the icy waters of Yellow Lake

The local firefighters were taking ice rescue training at the Penticton lake this weekend

Langley resident Carrie MacKay shared a video showing how stairs are a challenge after spending weeks in hospital battling COVID-19 (Special to Langley Advance Times)
VIDEO: Stairs a challenge for B.C. woman who chronicled COVID-19 battle

‘I can now walk for six (to) 10 minutes a day’

Pastafarian Gary Smith, pictured here dressed as a pirate, wanted to wear his tricorn (also pictured here) in his driver’s licence photo, arguing that the display was a religious observance. Photo: Facebook
B.C. Pastafarian loses Supreme Court fight to wear pirate hat in driver’s licence photo

Gary Smith of Grand Forks, put his case to the Supreme Court in Rossland in early February

The Nanaimo Clippers in action at Frank Crane Arena in early 2020. (News Bulletin file photo)
Nanaimo Clippers for sale, owner says hockey won’t be back to normal any time soon

Wes Mussio says he’s had numerous inquiries about the junior A club already

A student from Dawson Creek is the winner of Tolko’s Orange Shirt Day design contest for 2021. (Tolko photo)
Tolko contest features northern winner

Student from Dawson Creek beats out entries Canadawide for Orange Shirt Day design contest win

Provincial health officer Dr. Bonnie Henry updates B.C.’s coronavirus situation, May 8, 2020. (B.C. government photo)
B.C.’s weekend COVID-19 cases: 532 Saturday, 508 Sunday, 438 Monday

Fraser Health still has most, eight more coronavirus deaths

The Vernon Public Art Gallery's new Regional Reach program which sends supplies and lessons to classes, has been a hit in the North Okanagan classrooms. (VPAG photo)
Travelling art kit a hit in North Okanagan schools

Art Gallery’s new Regional Reach program delivers art education to the classrooms

A kaleidescope of colours was captured over Lake Country Sunday, Feb. 28. (Wendey Innes-Shaw photo)
Colourful close to month with North Okanagan sunset

From all angles: Vernon and Lake Country photographers capture sunset Feb. 28

City council passed resolution in support of an expansion of the licence area at Salmon Arm’s Marionette Winery for the inclusion of a lounge area. (Marionette Winery/Facebook)
Salmon Arm council supports lounge addition at Shuswap winery

Marionette Winery expanding licence area to host small gatherings

Vernon’s Noric House long-term care facility’s COVID-10 outbreak has been declared over by Interior Health. (Jennifer Smith - Morning Star)
COVID outbreak at Vernon’s Noric House declared over

10 deaths were linked to the outbreak at long-term care facility

Most Read