B.C. realtors report 20% hike in sales

Sales of homes in British Columbia were 20% higher in August 2015 compared to the same month last year.

The BC Real Estate Association says that 8,811 residential units were recorded on the MLS during the month with total sales value of $5.5 billion.

That figure was up by 32.8% from August 2014 helped by a rise in the average MLS price, up 10.6% to $619,881.

"Housing demand continued at an elevated level in August," said Cameron Muir, BCREA's chief economist.

"More homes were sold in B.C. during the first eight months of the year than in the entire 12 months of 2012."

A total of 67,637 residential transactions were recorded in 2012, compared to 70,617 year-to-date in August.

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