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BC housing market posts strongest November on record

Even in the grip of a pandemic, B.C.’s real estate market continues to sizzle.

The BC Real Estate Association is reporting its strongest November on record.

Newly released numbers from the BCREA show a 42.1 percent increase in sales compared to November 2019.

Chief economist, Brendon Ogmundson, says supply reached near-record lows in several parts B.C. with prices rising sharply as a result.

He added that home sales were once again “unseasonably strong in November with several markets setting records for the month.”

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In Powell River, the average price of a single-family home was almost $443,670 last month. 

That’s 12.6 percent higher than November 2019.

Powell River-Sunshine Coast Real Estate Board president, Neil Frost, says the region is coming off a record September and October.

READ MORE: Demand fueling Powell River, Sunshine Coast real estate market

“Sales have been very strong the past few months,” he added.

Frost said 50 percent of the buyers are coming from outside of the area with most of those purchasing single-family homes.

“So they’re becoming residents of Powell River, moving into our community, becoming taxpayers in our community,” Frost said.

 

 

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