British Columbia Real Estate Association (BCREA) Releases Fall 2009  Housing Forecast
 
BC Multiple Listing Service® (MLS®) residential sales are estimated to increase 20 per cent to 82,900 units this year from 68,923 units in 2008. Residential sales in 2010 are forecast to increase a further 8 per cent to 89,600 units. The ten-year average is 82,800 units.
 
"A sharp rebound in consumer demand turned a potentially dismal year into a very strong year for home sales,” said Cameron Muir, BCREA Chief Economist. “Vancouver and Victoria, in particular, are posting near record unit sales this fall."   
 

The average annual MLS® residential price in the province is expected to post a new record this year, rising 2 per cent to $463,200 and is forecast to climb an additional 4 per cent to $482,800 in 2010.

“Recovery in the BC economy will unfold gradually next year,” added Muir. “With sales prices in some markets flirting with record highs, affordability constraints will limit home price inflation over the next year.”   Posted by the BCREA New Room
 
The full Fall 2009 Housing Forecast is available at: www.bcrea.bc.ca/economics/HousingForecast.pdf.
 
 
 
 
 
 
 
 
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Cowichan Valley   (Single Family)
 Home Sales for the month of October, 2009

 

LD - Ladysmith:    Sales 12   Avg Sale Price   $285,098

SA - Saltair:           Sales  3      Avg Sale Price   $436,833

CH - Chemainus:  Sales 3      Avg Sale Price   $314,667

CF - Crofton:           Sales 2     Avg Sale Price    $270,000

LC - Lake Cow:     Sales 2     Avg Sale Price    $297,500

CI - Cowichan,
Cobble Hill:            Sales 4    Avg Sale Price      $356,000

DU - Duncan:        Sales 39   Avg Sale Price     $367,033

MI - Mill Bay:          Sales 3    Avg Sale Price     $551,667

SH - Shawnigan:  Sales 3    Avg Sale Price    $394,167

 
TOTALS:

Cowichan Valley - October, 2009

Property Type

Single Family:               71     $357,556

Condo (Apt):                    8     $151,612

Condo (Patio):                 4      $255,250

Condo (Townhouse):   12   $237,588

Single Family (Water):   4    $465,000

Lots:                                10    $155, 590

 

Average sale price does not include Waterfront.

Copyright © 2009 Vancouver Island Real Estate Board. All rights reserved. Information presented here is for general interest only. No guarantees apply.

See your REALTOR® for specific information. Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real

estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

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