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The British Columbia Real Estate Association (BCREA) reports that a total of 4,487 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in January, down 23 per cent from the same period last year. Total sales dollar volume was $2.79 billion, down 36.5 per cent from January 2016. The average MLS® residential price in the province was $621,093, a 17.5 per cent decrease from the same period last year.

 

“Housing demand across the province returned to long-term average levels last month," said Cameron Muir, BCREA Chief Economist. "However, regional variations persist, with Victoria posting above average performance and Vancouver falling below the average."

 

“A marked decrease in the average MLS® residential price is largely the result of relatively more home sales occurring outside of the Lower Mainland," added Muir.

 

Home sales from Vancouver fell from 43 per cent of provincial transactions in January 2016 to 35 per cent last month. In addition, fewer detached home sales in Vancouver relative to multi-family units has skewed the average price statistic down in the province's largest urban area.

 

In contrast, the MLS® Residential Benchmark Price in the Real Estate Board of Greater Vancouver area has declined 3.7 per cent over the past six months, but is up 15.6 per cent from January 2016.

 

Contact The Aziz Group for more specific information on your local area. 

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Office Location:

421 Pacific Street Vancouver
BC V6Z 2P5 CA

 

 

 

The Aziz Group specializes in Condo Real Estate and Investment Properties through out the Vancouver area.  Our team's experience and marketing strategies ensure the sale of your property in a timely manner and for the best price.  Our team of experts vast knowledge of the Vancouver real estate market will guide you to finding your next dream home or investment property.

 

Professional Background

The Aziz Group is led by the founder, Eniz Aziz, an award winning realtor in Vancouver.  The Aziz Group combines the expertise of multiple professionals including mortgage brokers, property managers, and publiscists to provide our clients with extensive real estate services.

 

The Aziz Group believes relationships and knowledge are the keys to success. The Aziz Group is a member of the Real Estate Board of Greater Vancouver .  We also have strong relationships with several local real estate developers.  We have built a sound strategy for market research and real estate forecasting for the Vancouver market.  We provide our investors the most up to date stats and insight for making comprehensive decisions when purchasing an investment property.

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