Sales Continue Normalizing Trend in November

The British Columbia Real Estate Association (BCREA) reports that 5,841 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in November 2024, up 25.7 per cent from November 2023. The average MLS® residential price in BC in November 2024 was up 1.7 per cent at $979,221 compared to an average price of $963,143 in November 2023.

The total sales dollar volume was $5.7 billion, a 27.8 per cent increase from the same time the previous year. BC MLS® unit sales were 12 per cent lower than the ten-year average for November.

“Home sales across the province continued the normalizing trend that began in October,” said BCREA Chief Economist Brendon Ogmundson. “The surge in activity this fall sets up 2025 for a much stronger start than we’ve seen in the last two years.”

Year-to-date, BC residential sales dollar volume is up 1.6 per cent to $68.6 billion, compared with the same period in 2023. Residential unit sales are up 0.8 per cent year-over-year at 69,983 units, while the average MLS® residential price is also up 0.8 per cent to $980,055.