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December and 2007 MLS Statistics

 

Residential sales volume on the Multiple Listing Service® (MLS®) in 2007
reached $45.1 billion, a 19.5% increase compared 2006 and the highest level
ever recorded. The number of units sold in 2007 also increased 6.4% to
102,811, while the average MLS® residential price reached a record
$439,121, an increase of 12.3% compared to the previous year. In December,
sales volumes reached $2.19 billion, a 24.2% increase compared to December
of last year. The number of units sold also climbed 8.8% to 4,791, while
the average residential price hit $457,825, a 14.2% jump compared to the
same month last year.

Okanagan (including South Okanagan): The Okanagan and South Okanagan
markets recorded 459 units sold in December, an increase of 12.5% compared
to December of last year, while dollar volumes increased 27.8% to $174
million. For 2007, the number of residential sales increased 11.7% to
11,149, while dollar volumes reached $4.2 billion, a 33.3% increase
compared to 2006.

Greater Vancouver: The number of residential units sold in December reached
1,957, an increase of 11.3% compared to the same month last year, while
dollar volumes climbed 21.3% to $1.1 billion. The average residential home
price reached $566,192 this month, an increase of 9% compared to December
of last year. For 2007, the number of residential unit sold increased 6.9%
to 38,978, while dollar volumes reached $22.2 billion, a 19.6% increase
compared to 2006. The 2007 average residential home price also increased
11.9% reaching $570,795.

Fraser Valley: The number of units sold in December increased 15.9%
compared to the same month last year with 904 units sold. Dollar volumes
increased 36.3% to $406 million, while the average residential home price
reached 448,640, a 17.6% increase compared to December of last year. For
2007, the number of residential sales declined 0.3% to 18,032, while dollar
volumes reached $7.6 billion, a 7.5% increase compared to 2006. The 2007
average residential home price also increased 7.8% reaching $423,761.

Chilliwack: December sales declined 29.9% to 124 units, while dollar
volumes reached $39 million, an 18.1% drop compared to the same month last
year. Despite slower sales activity, the average residential home price
continued to climb in December reaching $317,678, a 17% increase compared
to December of last year. For 2007, the number of residential sales
increased 3.8% to 3,333, while dollar volumes reached $1 billion, a 15.7%
increase compared to 2006. The 2007 average residential home price also
increased 11.5% reaching $300,275.

Victoria: Sales in December reached 376 units, a 3.6% increase compared to
the same month last year. Dollar volumes increased 18.7% to $185 million,
while the average residential home price hit $492,273, a 14.6% increase
compared to December of last year. For 2007, the number of residential
sales increased 12% to 8,402, while dollar volumes reached $3.9 billion, a
22.5% increase compared to 2006. The 2007 average residential home price
also increased 9.3% reaching $466,952.

Vancouver Island: The number of residential units sold in December remained
all but unchanged from a year ago with 450 units sold, a 0.4% increase
compared to the same month last year. Dollar volumes however increased
25.1% reaching $151 million, while the average residential home price rose
25% to $335,813. For 2007, the number of residential sales increased 10.7%
to 9,807, while dollar volumes reached $3 billion, a 22.5% increase
compared to 2006. The 2007 average residential home price also increased
10.7% reaching $311,982.

Kamloops: Dollar volumes climbed 5.1% compared to the same month last year
reaching $35 million in December. Sales dropped 17.1% with 121 units sold,
while the average residential home price jumped 26.8% compared to the same
month last year reaching $288,685. For 2007, the number of residential
sales increased 6% to 3,501, while dollar volumes reached $964 million, a
31.9% increase compared to 2006. The 2007 average residential home price
also increased 24.4% reaching $275,474.

BC Northern: Residential sales continued a downward trend in December
declining 4.2% compared to December of last year with 207 units sold.
Dollar volumes however, increased 8.7% to $42 million, while the average
residential home price recorded a 13% increase reaching $204,408. For 2007,
the number of residential sales declined 3.7% to 5,400, while dollar
volumes reached $1.1 billion, a 13.9% increase compared to 2006. The 2007
average residential home price also increased 18.2% reaching $195,487.

Kootenay: The Kootenay market continued on a torrid pace this month with
the number of residential units sold reaching 156, a 169% increase compared
to the same month last year. Dollar volumes also increased 249.7% reaching
$45.5 million, while the average residential home price jumped 30% compared
to December of last year hitting $291,885. For 2007, the number of
residential sales increased 22.1% to 3,476, while dollar volumes reached
$946 million, a 58.3% increase compared to 2006. The 2007 average
residential home price also increased 29.7% reaching $272,138.

 

--
Alexandra Rebagliati
MacDonald Realty
REALTOR®
Cell: 250.870.2792
info@alexandrarebagliati.com
www.alexandrarebagliati.com

Kelowna Mountain
alexandra@kelownamountain.com
www.kelownamountain.com

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