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

Abstract Developments is donating $75,000 to support community programming at The Cridge Centre for the Family. (Courtesy of The Cridge Centre)
Victoria developer builds support for community programs

Abstract Developments donates $75,000 to The Cridge Centre for the Family

SD 62 (Sooke) has announced a COVID-19 exposure at David Cameron Elementary in Colwood. Potential exposure dates are Monday, Feb. 22; Tuesday, Feb. 23; and Wednesday, Feb. 24. (Black Press Media File).
COVID-19 exposure at Colwood’s David Cameron Elementary

Potential exposure dates are Monday, Feb. 22; Tuesday, Feb. 23; and Wednesday, Feb. 24.

Office vacancy rates are rising in Greater Victoria while the supply of industrial land is shrinking. (Black Press Media File)
Report finds supply of industrial land in Greater Victoria shrinking

Office vacancy rates in Greater Victoria continue to rise

Central Saanich has received funding for a new multi-use pathway that promises to improve access to Butchart Gardens. (Black Press Media File)
Central Saanich receives grant for multi-use pathway to Butchart Gardens

Province funds entirety of $322,800 project through economic recovery grant program

February 17, 2021 - Kaelyn (L) and Costin Campbell are Goldstream News Gazette 2021 Local Heroes.
Pint-sized duo inspires others to be green

Costin and Kaelyn Campbell are this year’s Environmental Heroes

A health worker holds a vial of AstraZeneca vaccine to be administered to members of the police at a COVID-19 vaccination center in Mainz, Germany, Thursday, Feb. 25, 2021. The federal state of Rhineland-Palatinate, start with the vaccination of police officers in internal police vaccination centers. (Andreas Arnold/dpa via AP)
B.C. officials to unveil new details of COVID vaccination plan Monday

Seniors and health-care workers who haven’t gotten their shot are next on the list

Lone orca from a pod that made its way north from Georgia Strait and into Discovery Passage on Saturday, Feb. 27, 2021. Photo by Ella Smiley/<a href="https://www.facebook.com/Comoxvalleywildlifesightings/?ref=page_internal" target="_blank">Comox Valley Wildlife Sightings </a>
Island wildlife viewers thrilled by close view of passing Orca pod

Group gives wildlife photographers a classic oportunity to view them off Campbell River shoreline

An investigation is underway after a man was shot and killed by Tofino RCMP in Opitsaht. (Black Press Media file photo)
Man shot and killed by RCMP near Tofino, police watchdog investigating

Investigation underway by Independent Investigations Office of British Columbia.

B.C. Supreme Court in Vancouver on Tuesday December 11, 2018. THE CANADIAN PRESS/Darryl Dyck
B.C.’s compromise on in-person worship at three churches called ‘absolutely unacceptable’

Would allow outdoor services of 25 or less by Langley, Abbotsford and Chilliwack churches

Baldy Mountain Resort was shut down on Saturday after a fatal workplace accident. (Baldy Mountain picture)
Jasmine and Gwen Donaldson are part of the CAT team working to reduce stigma for marginalized groups in Campbell River. Photo by Marc Kitteringham, Campbell River Mirror
Jasmine’s story: Stigma can be the hardest hurdle for those overcoming addiction

Recovering B.C. addict says welcome, connection and community key for rebuilding after drug habit

A Vancouver restaurant owner was found guilty of violating B.C.’s Human Rights Code by discriminating against customers on the basis of their race. (Pixabay)
Vancouver restaurant owner ordered to pay $4,000 to customers after racist remark

Referring to patrons as ‘you Arabs’ constitutes discrimination under B.C.’s Human Rights Code, ruling deems

Dasher is back home with mom Christine Girvin thanks to some help from BC Ferries staff. Photo supplied
The cat came back, with help from BC Ferries staff

After Dasher made a dash, staff in Comox found her and got her home safe

Nanaimo children’s author and illustrator Lindsay Ford’s latest book is ‘Science Girl.’ (Photo courtesy Lindsay Ford)
B.C. children’s writer encourages girls to pursue the sciences in new book

Lindsay Ford is holding a virtual launch for latest book, ‘Science Girl’

Most Read