BCREA reports 23.5 percent increase in average home price amid “listings drought”
Great summary of what BC is facing going into spring. Some key points:
- In Vancouver Island, the average price rose 34.2 percent last month compared to January 2021, bringing the tag to $709,798.
-A total of 6,138 residential properties were sold in January 2022 across B.C.
The number marks a decrease of 14.7 percent from January 2021.
- In Greater Vancouver, the average price went up to $1,274,315 in January 2022, constituting a 17 percent increase compared to the same month last year.
“As a result, it will take quite some time to get back to healthy balance in the BC market.”