Province
B.C.’s average house price climbed 11.7 per cent to $471,078 in August from the same month last year, the B.C. Real Estate Association said.
“Home prices edged higher in many markets over the summer months as declining inventories created competition among homebuyers for the best properties,” association chief economist Cameron Muir said.
Across B.C., the number of active residential listings on the Multiple Listing Service fell 20.2 per cent from a year earlier, the association said. In the Greater Vancouver Real Estate Board, the year-over-year average price rose 9.1 per cent.In a separate report, Statistics Canada said Vancouver posted the nation’s largest monthly new-homes price gain in July, up 1.2 per cent from June.
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