Client Incentives for Purchasing an Older Home

Posted by Vince Cavaliere on Wednesday, April 15th, 2015 at 1:35pm

It is usually not that difficult to find “historical”, “previously-loved”, “old” homes for sale around British Columbia. However, often the challenging task for BC REALTORS® is convincing a client that an “aged” house could be a diamond in the rough, and all it may need is an upgrade to make it the perfect home - comfortable, healthy and energy efficient.

Unfortunately for many, the idea of tackling a renovation is a nonstarter. Here are a few useful tools for REALTORS® when attempting to sell their clients an older home in BC:

  • Inform your clients that the BC Hydro Power Smart and FortisBC Home Energy Rebate Offer is currently available for homeowners who make energy efficient upgrades before March 31, 2016. Some of the rebates available include up to $3,250 for insulation upgrades, up to $500 for draftproofing upgrades, $25 for installing an ENERGY STAR® bathroom fan, and $800 for a ductless heat pump. There are also rebates for EnerChoice fireplaces and gas hot water heaters. In addition, your clients could receive a $750 bonus offer if they make three eligible upgrades. 
  • Provide a list of energy advisors to your clients while they are contemplating their purchase. Inform them that an energy advisor can lead them in the right direction regarding energy efficient upgrades and renovations. An energy advisor will perform an EnerGuide* home evaluation. They will assess all of the home’s water and heating systems from the attic to the basement, as well as the overall air leakage. They will then provide the home’s energy efficiency rating, and the best options for upgrades.

See more at: BCREA PURCHASING OLDER HOMES

 

Below is a breakdown as to what the numbers mean in the EnerGuide rating system:

BCHydroAprilBlog

“Over one million homeowners across Canada have received an EnerGuide evaluation,” explained Reid Arkinstall, Program Manager, Power Smart Marketing. “The EnerGuide evaluation helps homeowners improve the energy efficiency of their home, resulting in lower energy bills every month. Once their upgrades are complete they will receive an EnerGuide efficiency rating that can be affixed to their electrical panel. This efficiency rating is also great for resale. Potential buyers can look at this standardized and objective rating and know that the house has been upgraded, and that their hydro and natural gas bills will be significantly less compared to similar homes on the market that haven’t been renovated to be energy efficient.”

  • Reinforce to your clients that purchasing an older house, renovating it, and obtaining an EnerGuide efficiency rating can add significant resale value to the home. Making energy retrofits to a pre-owned home will not only reduce energy bills and the impact it has on the environment, but also make the house healthier and more comfortable to live in. For example, efficient heating and cooling systems that use less energy, will reduce indoor humidity, mould, air pollutants, and improve the overall comfort of the home. In addition, high-performance ENERGY STAR® windows, patio doors, and skylights keep the heat in during the winter and out during the summer. They can also cut annual energy costs by up to 20 per cent.

More than ever before, there are incentives, services and programs for homeowners to renovate older homes, and the process isn’t as daunting as it once was. Educate your homebuyers on the easy steps on how to start the energy retrofit process, and the many benefits of a newly upgraded home – more energy efficient, less impact on the environment, more healthy and comfortable, and greater resale value.

- See more at:BCREA PURCHASING OLDER HOMES
 
Copyright British Columbia Real Estate Association.  Reprinted with permission.
 
 
659 Wittner Road, Kamloops
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659 Wittner Road, Kamloops

$949,900
1831 Springhill Drive, Kamloops
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1831 Springhill Drive, Kamloops

$879,900 ↓ $20,000
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845 Gleneagles Drive, Kamloops

$850,000 ↓ $30,000
 
It is usually not that difficult to find “historical”, “previously-loved”, “old” homes for sale around British Columbia. However, often the challenging task for BC REALTORS® is convincing a client that an “aged” house could be a diamond in the rough, and all it may need is an upgrade to make it the perfect home - comfortable, healthy and energy efficient.

Unfortunately for many, the idea of tackling a renovation is a nonstarter. Here are a few useful tools for REALTORS® when attempting to sell their clients an older home in BC:

  • Inform your clients that the BC Hydro Power Smart and FortisBC Home Energy Rebate Offer is currently available for homeowners who make energy efficient upgrades before March 31, 2016. Some of the rebates available include up to $3,250 for insulation upgrades, up to $500 for draftproofing upgrades, $25 for installing an ENERGY STAR® bathroom fan, and $800 for a ductless heat pump. There are also rebates for EnerChoice fireplaces and gas hot water heaters. In addition, your clients could receive a $750 bonus offer if they make three eligible upgrades. 
  • Provide a list of energy advisors to your clients while they are contemplating their purchase. Inform them that an energy advisor can lead them in the right direction regarding energy efficient upgrades and renovations. An energy advisor will perform an EnerGuide* home evaluation. They will assess all of the home’s water and heating systems from the attic to the basement, as well as the overall air leakage. They will then provide the home’s energy efficiency rating, and the best options for upgrades. Additionally, from now until April 30, 2015, your clients can enter to win $500 towards an EnerGuide home evaluation.
- See more at: http://www.bcrea.bc.ca/about/bcrea-blog/bcrea-blog/2015/04/01/client-incentives-for-purchasing-an-older-home#sthash.9tmZ5bW0.dpuf
It is usually not that difficult to find “historical”, “previously-loved”, “old” homes for sale around British Columbia. However, often the challenging task for BC REALTORS® is convincing a client that an “aged” house could be a diamond in the rough, and all it may need is an upgrade to make it the perfect home - comfortable, healthy and energy efficient.

Unfortunately for many, the idea of tackling a renovation is a nonstarter. Here are a few useful tools for REALTORS® when attempting to sell their clients an older home in BC:

  • Inform your clients that the BC Hydro Power Smart and FortisBC Home Energy Rebate Offer is currently available for homeowners who make energy efficient upgrades before March 31, 2016. Some of the rebates available include up to $3,250 for insulation upgrades, up to $500 for draftproofing upgrades, $25 for installing an ENERGY STAR® bathroom fan, and $800 for a ductless heat pump. There are also rebates for EnerChoice fireplaces and gas hot water heaters. In addition, your clients could receive a $750 bonus offer if they make three eligible upgrades. 
  • Provide a list of energy advisors to your clients while they are contemplating their purchase. Inform them that an energy advisor can lead them in the right direction regarding energy efficient upgrades and renovations. An energy advisor will perform an EnerGuide* home evaluation. They will assess all of the home’s water and heating systems from the attic to the basement, as well as the overall air leakage. They will then provide the home’s energy efficiency rating, and the best options for upgrades. Additionally, from now until April 30, 2015, your clients can enter to win $500 towards an EnerGuide home evaluation.
- See more at: http://www.bcrea.bc.ca/about/bcrea-blog/bcrea-blog/2015/04/01/client-incentives-for-purchasing-an-older-home#sthash.9tmZ5bW0.dpuf
It is usually not that difficult to find “historical”, “previously-loved”, “old” homes for sale around British Columbia. However, often the challenging task for BC REALTORS® is convincing a client that an “aged” house could be a diamond in the rough, and all it may need is an upgrade to make it the perfect home - comfortable, healthy and energy efficient.

Unfortunately for many, the idea of tackling a renovation is a nonstarter. Here are a few useful tools for REALTORS® when attempting to sell their clients an older home in BC:

  • Inform your clients that the BC Hydro Power Smart and FortisBC Home Energy Rebate Offer is currently available for homeowners who make energy efficient upgrades before March 31, 2016. Some of the rebates available include up to $3,250 for insulation upgrades, up to $500 for draftproofing upgrades, $25 for installing an ENERGY STAR® bathroom fan, and $800 for a ductless heat pump. There are also rebates for EnerChoice fireplaces and gas hot water heaters. In addition, your clients could receive a $750 bonus offer if they make three eligible upgrades. 
  • Provide a list of energy advisors to your clients while they are contemplating their purchase. Inform them that an energy advisor can lead them in the right direction regarding energy efficient upgrades and renovations. An energy advisor will perform an EnerGuide* home evaluation. They will assess all of the home’s water and heating systems from the attic to the basement, as well as the overall air leakage. They will then provide the home’s energy efficiency rating, and the best options for upgrades. Additionally, from now until April 30, 2015, your clients can enter to win $500 towards an EnerGuide home evaluation.
- See more at: http://www.bcrea.bc.ca/about/bcrea-blog/bcrea-blog/2015/04/01/client-incentives-for-purchasing-an-older-home#sthash.9tmZ5bW0.dpuf
It is usually not that difficult to find “historical”, “previously-loved”, “old” homes for sale around British Columbia. However, often the challenging task for BC REALTORS® is convincing a client that an “aged” house could be a diamond in the rough, and all it may need is an upgrade to make it the perfect home - comfortable, healthy and energy efficient.

Unfortunately for many, the idea of tackling a renovation is a nonstarter. Here are a few useful tools for REALTORS® when attempting to sell their clients an older home in BC:

  • Inform your clients that the BC Hydro Power Smart and FortisBC Home Energy Rebate Offer is currently available for homeowners who make energy efficient upgrades before March 31, 2016. Some of the rebates available include up to $3,250 for insulation upgrades, up to $500 for draftproofing upgrades, $25 for installing an ENERGY STAR® bathroom fan, and $800 for a ductless heat pump. There are also rebates for EnerChoice fireplaces and gas hot water heaters. In addition, your clients could receive a $750 bonus offer if they make three eligible upgrades. 
  • Provide a list of energy advisors to your clients while they are contemplating their purchase. Inform them that an energy advisor can lead them in the right direction regarding energy efficient upgrades and renovations. An energy advisor will perform an EnerGuide* home evaluation. They will assess all of the home’s water and heating systems from the attic to the basement, as well as the overall air leakage. They will then provide the home’s energy efficiency rating, and the best options for upgrades. Additionally, from now until April 30, 2015, your clients can enter to win $500 towards an EnerGuide home evaluation.
- See more at: http://www.bcrea.bc.ca/about/bcrea-blog/bcrea-blog/2015/04/01/client-incentives-for-purchasing-an-older-home#sthash.9tmZ5bW0.dpuf
It is usually not that difficult to find “historical”, “previously-loved”, “old” homes for sale around British Columbia. However, often the challenging task for BC REALTORS® is convincing a client that an “aged” house could be a diamond in the rough, and all it may need is an upgrade to make it the perfect home - comfortable, healthy and energy efficient.

Unfortunately for many, the idea of tackling a renovation is a nonstarter. Here are a few useful tools for REALTORS® when attempting to sell their clients an older home in BC:

  • Inform your clients that the BC Hydro Power Smart and FortisBC Home Energy Rebate Offer is currently available for homeowners who make energy efficient upgrades before March 31, 2016. Some of the rebates available include up to $3,250 for insulation upgrades, up to $500 for draftproofing upgrades, $25 for installing an ENERGY STAR® bathroom fan, and $800 for a ductless heat pump. There are also rebates for EnerChoice fireplaces and gas hot water heaters. In addition, your clients could receive a $750 bonus offer if they make three eligible upgrades. 
  • Provide a list of energy advisors to your clients while they are contemplating their purchase. Inform them that an energy advisor can lead them in the right direction regarding energy efficient upgrades and renovations. An energy advisor will perform an EnerGuide* home evaluation. They will assess all of the home’s water and heating systems from the attic to the basement, as well as the overall air leakage. They will then provide the home’s energy efficiency rating, and the best options for upgrades. Additionally, from now until April 30, 2015, your clients can enter to win $500 towards an EnerGuide home evaluation.
- See more at: http://www.bcrea.bc.ca/about/bcrea-blog/bcrea-blog/2015/04/01/client-incentives-for-purchasing-an-older-home#sthash.9tmZ5bW0.dpuf
It is usually not that difficult to find “historical”, “previously-loved”, “old” homes for sale around British Columbia. However, often the challenging task for BC REALTORS® is convincing a client that an “aged” house could be a diamond in the rough, and all it may need is an upgrade to make it the perfect home - comfortable, healthy and energy efficient.

Unfortunately for many, the idea of tackling a renovation is a nonstarter. Here are a few useful tools for REALTORS® when attempting to sell their clients an older home in BC:

  • Inform your clients that the BC Hydro Power Smart and FortisBC Home Energy Rebate Offer is currently available for homeowners who make energy efficient upgrades before March 31, 2016. Some of the rebates available include up to $3,250 for insulation upgrades, up to $500 for draftproofing upgrades, $25 for installing an ENERGY STAR® bathroom fan, and $800 for a ductless heat pump. There are also rebates for EnerChoice fireplaces and gas hot water heaters. In addition, your clients could receive a $750 bonus offer if they make three eligible upgrades. 
  • Provide a list of energy advisors to your clients while they are contemplating their purchase. Inform them that an energy advisor can lead them in the right direction regarding energy efficient upgrades and renovations. An energy advisor will perform an EnerGuide* home evaluation. They will assess all of the home’s water and heating systems from the attic to the basement, as well as the overall air leakage. They will then provide the home’s energy efficiency rating, and the best options for upgrades. Additionally, from now until April 30, 2015, your clients can enter to win $500 towards an EnerGuide home evaluation.

Below is a breakdown as to what the numbers mean in the EnerGuide rating system:

BCHydroAprilBlog

“Over one million homeowners across Canada have received an EnerGuide evaluation,” explained Reid Arkinstall, Program Manager, Power Smart Marketing. “The EnerGuide evaluation helps homeowners improve the energy efficiency of their home, resulting in lower energy bills every month. Once their upgrades are complete they will receive an EnerGuide efficiency rating that can be affixed to their electrical panel. This efficiency rating is also great for resale. Potential buyers can look at this standardized and objective rating and know that the house has been upgraded, and that their hydro and natural gas bills will be significantly less compared to similar homes on the market that haven’t been renovated to be energy efficient.”

  • Reinforce to your clients that purchasing an older house, renovating it, and obtaining an EnerGuide efficiency rating can add significant resale value to the home. Making energy retrofits to a pre-owned home will not only reduce energy bills and the impact it has on the environment, but also make the house healthier and more comfortable to live in. For example, efficient heating and cooling systems that use less energy, will reduce indoor humidity, mould, air pollutants, and improve the overall comfort of the home. In addition, high-performance ENERGY STAR® windows, patio doors, and skylights keep the heat in during the winter and out during the summer. They can also cut annual energy costs by up to 20 per cent.

More than ever before, there are incentives, services and programs for homeowners to renovate older homes, and the process isn’t as daunting as it once was. Educate your homebuyers on the easy steps on how to start the energy retrofit process, and the many benefits of a newly upgraded home – more energy efficient, less impact on the environment, more healthy and comfortable, and greater resale value.

- See more at: http://www.bcrea.bc.ca/about/bcrea-blog/bcrea-blog/2015/04/01/client-incentives-for-purchasing-an-older-home#sthash.9tmZ5bW0.dpuf
It is usually not that difficult to find “historical”, “previously-loved”, “old” homes for sale around British Columbia. However, often the challenging task for BC REALTORS® is convincing a client that an “aged” house could be a diamond in the rough, and all it may need is an upgrade to make it the perfect home - comfortable, healthy and energy efficient.

Unfortunately for many, the idea of tackling a renovation is a nonstarter. Here are a few useful tools for REALTORS® when attempting to sell their clients an older home in BC:

  • Inform your clients that the BC Hydro Power Smart and FortisBC Home Energy Rebate Offer is currently available for homeowners who make energy efficient upgrades before March 31, 2016. Some of the rebates available include up to $3,250 for insulation upgrades, up to $500 for draftproofing upgrades, $25 for installing an ENERGY STAR® bathroom fan, and $800 for a ductless heat pump. There are also rebates for EnerChoice fireplaces and gas hot water heaters. In addition, your clients could receive a $750 bonus offer if they make three eligible upgrades. 
  • Provide a list of energy advisors to your clients while they are contemplating their purchase. Inform them that an energy advisor can lead them in the right direction regarding energy efficient upgrades and renovations. An energy advisor will perform an EnerGuide* home evaluation. They will assess all of the home’s water and heating systems from the attic to the basement, as well as the overall air leakage. They will then provide the home’s energy efficiency rating, and the best options for upgrades. Additionally, from now until April 30, 2015, your clients can enter to win $500 towards an EnerGuide home evaluation.

Below is a breakdown as to what the numbers mean in the EnerGuide rating system:

BCHydroAprilBlog

“Over one million homeowners across Canada have received an EnerGuide evaluation,” explained Reid Arkinstall, Program Manager, Power Smart Marketing. “The EnerGuide evaluation helps homeowners improve the energy efficiency of their home, resulting in lower energy bills every month. Once their upgrades are complete they will receive an EnerGuide efficiency rating that can be affixed to their electrical panel. This efficiency rating is also great for resale. Potential buyers can look at this standardized and objective rating and know that the house has been upgraded, and that their hydro and natural gas bills will be significantly less compared to similar homes on the market that haven’t been renovated to be energy efficient.”

  • Reinforce to your clients that purchasing an older house, renovating it, and obtaining an EnerGuide efficiency rating can add significant resale value to the home. Making energy retrofits to a pre-owned home will not only reduce energy bills and the impact it has on the environment, but also make the house healthier and more comfortable to live in. For example, efficient heating and cooling systems that use less energy, will reduce indoor humidity, mould, air pollutants, and improve the overall comfort of the home. In addition, high-performance ENERGY STAR® windows, patio doors, and skylights keep the heat in during the winter and out during the summer. They can also cut annual energy costs by up to 20 per cent.

More than ever before, there are incentives, services and programs for homeowners to renovate older homes, and the process isn’t as daunting as it once was. Educate your homebuyers on the easy steps on how to start the energy retrofit process, and the many benefits of a newly upgraded home – more energy efficient, less impact on the environment, more healthy and comfortable, and greater resale value.

- See more at: http://www.bcrea.bc.ca/about/bcrea-blog/bcrea-blog/2015/04/01/client-incentives-for-purchasing-an-older-home#sthash.9tmZ5bW0.dpuf

Vancouver, BC – March 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $639,405, up 4.5 per cent from the same month last year.

"Consumer demand remained robust in February on the strength of rock bottom interest rates and improving economic conditions," said Cameron Muir, BCREA Chief Economist. "After several years of below-average activity, home sales are now trending above long-term levels."

Total active listings on the market were down 7.5 per cent from a year ago. Fewer homes for sale, combined with elevated consumer demand has the housing market firmly in balanced conditions.

Year-to-date, BC residential sales dollar volume was up 18 per cent to $6.9 billion, compared to the same period last year. Residential unit sales were up 12.4 per cent to 11,038 units, while the average MLS® residential price was up 5.0 per cent at $621,065.

- See more at: http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2015-02-statistical-release#sthash.QPohUOTv.dpuf

Vancouver, BC – March 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $639,405, up 4.5 per cent from the same month last year.

"Consumer demand remained robust in February on the strength of rock bottom interest rates and improving economic conditions," said Cameron Muir, BCREA Chief Economist. "After several years of below-average activity, home sales are now trending above long-term levels."

Total active listings on the market were down 7.5 per cent from a year ago. Fewer homes for sale, combined with elevated consumer demand has the housing market firmly in balanced conditions.

Year-to-date, BC residential sales dollar volume was up 18 per cent to $6.9 billion, compared to the same period last year. Residential unit sales were up 12.4 per cent to 11,038 units, while the average MLS® residential price was up 5.0 per cent at $621,065.

- See more at: http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2015-02-statistical-release#sthash.QPohUOTv.dpuf

Vancouver, BC – March 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $639,405, up 4.5 per cent from the same month last year.

"Consumer demand remained robust in February on the strength of rock bottom interest rates and improving economic conditions," said Cameron Muir, BCREA Chief Economist. "After several years of below-average activity, home sales are now trending above long-term levels."

Total active listings on the market were down 7.5 per cent from a year ago. Fewer homes for sale, combined with elevated consumer demand has the housing market firmly in balanced conditions.

Year-to-date, BC residential sales dollar volume was up 18 per cent to $6.9 billion, compared to the same period last year. Residential unit sales were up 12.4 per cent to 11,038 units, while the average MLS® residential price was up 5.0 per cent at $621,065.

- See more at: http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2015-02-statistical-release#sthash.QPohUOTv.dpuf

Vancouver, BC – March 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $639,405, up 4.5 per cent from the same month last year.

"Consumer demand remained robust in February on the strength of rock bottom interest rates and improving economic conditions," said Cameron Muir, BCREA Chief Economist. "After several years of below-average activity, home sales are now trending above long-term levels."

Total active listings on the market were down 7.5 per cent from a year ago. Fewer homes for sale, combined with elevated consumer demand has the housing market firmly in balanced conditions.

Year-to-date, BC residential sales dollar volume was up 18 per cent to $6.9 billion, compared to the same period last year. Residential unit sales were up 12.4 per cent to 11,038 units, while the average MLS® residential price was up 5.0 per cent at $621,065.

- See more at: http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2015-02-statistical-release#sthash.QPohUOTv.dpuf

Vancouver, BC – March 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $639,405, up 4.5 per cent from the same month last year.

"Consumer demand remained robust in February on the strength of rock bottom interest rates and improving economic conditions," said Cameron Muir, BCREA Chief Economist. "After several years of below-average activity, home sales are now trending above long-term levels."

Total active listings on the market were down 7.5 per cent from a year ago. Fewer homes for sale, combined with elevated consumer demand has the housing market firmly in balanced conditions.

Year-to-date, BC residential sales dollar volume was up 18 per cent to $6.9 billion, compared to the same period last year. Residential unit sales were up 12.4 per cent to 11,038 units, while the average MLS® residential price was up 5.0 per cent at $621,065.

- See more at: http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2015-02-statistical-release#sthash.QPohUOTv.dpuf
    Housing Demand Remained Elevated in February

Vancouver, BC – March 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $639,405, up 4.5 per cent from the same month last year.

"Consumer demand remained robust in February on the strength of rock bottom interest rates and improving economic conditions," said Cameron Muir, BCREA Chief Economist. "After several years of below-average activity, home sales are now trending above long-term levels."

Total active listings on the market were down 7.5 per cent from a year ago. Fewer homes for sale, combined with elevated consumer demand has the housing market firmly in balanced conditions.

Year-to-date, BC residential sales dollar volume was up 18 per cent to $6.9 billion, compared to the same period last year. Residential unit sales were up 12.4 per cent to 11,038 units, while the average MLS® residential price was up 5.0 per cent at $621,065.

- See more at: http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2015-02-statistical-release#sthash.JFni94N6.dpuf
    Housing Demand Remained Elevated in February

Vancouver, BC – March 13, 2015. The British Columbia Real Estate Association (BCREA) reports that a total of 6,661 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, up 19.4 per cent from the same month last year. Total sales dollar volume was $4.3 billion, an increase of 24.8 per cent compared to a year ago. The average MLS® residential price in the province rose to $639,405, up 4.5 per cent from the same month last year.

"Consumer demand remained robust in February on the strength of rock bottom interest rates and improving economic conditions," said Cameron Muir, BCREA Chief Economist. "After several years of below-average activity, home sales are now trending above long-term levels."

Total active listings on the market were down 7.5 per cent from a year ago. Fewer homes for sale, combined with elevated consumer demand has the housing market firmly in balanced conditions.

Year-to-date, BC residential sales dollar volume was up 18 per cent to $6.9 billion, compared to the same period last year. Residential unit sales were up 12.4 per cent to 11,038 units, while the average MLS® residential price was up 5.0 per cent at $621,065.

- See more at: http://www.bcrea.bc.ca/news-and-publications/news-room/news-releases/2015-02-statistical-release#sthash.JFni94N6.dpuf

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