According to the latest stats from the British Columbia Real Estate Association (BCREA), average residential prices were up as high as 21% in Greater Vancouver and 18% in Fraser Valley, but down as much as 27% in Powell River and down 8% in South Okanagan.
In the past year, Fraser Valley also overtook Victoria as the second priciest area based on average home price, now at $534,123 and $508,308 respectively.
Provincial home sales in B.C. were lower in April, down 14% from a year earlier to reach 7,187 units in April. No real estate board within the province reported any year-over-year gains in April sales, although sales were even in Powell River. Sales were down 30% in Okanagan Mainline and down 41% in Northern Lights.
“The province’s housing markets continue to exhibit a two steps forward, one step back trajectory in tandem with economic and employment growth,” said Cameron Muir, BCREA’s chief economist.
The province in April saw active listings drop 6%, although an exception was Victoria, where they rose 9%.
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