Home sales climb higher outside Vancouver

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service (MLS) residential unit sales in the province rose 6.5% to 5,865 units in October compared to the same month last year.  The average MLS residential price was up 2.6% to $535,695 last month compared to October 2010.

"BC home sales rose 3% in October compared to September on a seasonally adjusted basis," said Cameron Muir, BCREA Chief Economist.  "While consumer demand in Vancouver edged lower last month on a year-over-year basis, strong increases were recorded in the Fraser Valley, Kamloops, Kootenay, the North and Vancouver Island.

"Total active residential listings in the province declined by 3,360 units in October from September.  However, active listings were up 6.9% from October 2011," added Muir.  "Market conditions remained slightly in favour of home buyers last month."

Year-to-date, BC residential sales dollar volume increased 16.8% to $38 billion, compared to the same period last year.  Residential unit sales increased 3.5% to 66,922 units, while the average MLS residential price rose 12.9% to $566,925 over the same period.

Source of Text and Tables: BCREA

For a closer look at what's happening in Kelowna's residential market check out the following links:

Kelowna's popular selling price range

Okanagan market continues to stabalize

Kelowna house prices climb 156%

October 2011 Kelowna numbers

Okanagan -Shuswap buying dynamics