March Real Estate Stats
Our March 2019 stats show that sales of single-family homes board-wide dipped by 23 per cent year over year but were up 36 per cent from February.
Housing sales have weakened throughout most of the province, which the British Columbia Real Estate Association largely attributes to the mortgage stress test (Guideline B-20).
Decreased housing demand has also contributed to an increase in total active residential listings across the province. In the VIREB area, inventory of single-family homes in March rose by 20 per cent from one year ago (976 to 1,172) while active listings of apartments climbed by 20 per cent (237 to 284) year over year and townhouses by 24 per cent (148 to 183).
However, despite decreased demand, prices in the VIREB area continue to rise over last year, although increases are expected to soften in the coming months. The benchmark price of a single-family home board-wide was $510,800 in March, a six per cent increase from one year ago and up slightly from February.
For more details on our March housing market, check our our comprehensive stats package at http://ow.ly/EWrT30oiwLC.
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