Blog & News / About British Columbia
BC Real Estate MarketNovember 01, 2010

Market Conditions Beginning to Improve
Vancouver, BC – October 13, 2010. The British Columbia Real Estate Association (BCREA)
reports that Multiple Listing Service® (MLS®) residential sales in the province declined 36 per
cent to 5,511 units in September compared to the same month last year. On a seasonally adjusted
basis, MLS® residential unit sales in the province increased 2 per cent in September from
August 2010. The average MLS® residential price climbed 4 per cent to $493,846 in September
compared to the same month last year.
“BC home sales increased for the second
consecutive month in September,” said
Cameron Muir, BCREA Chief Economist.
“However, consumer demand is still
noticeably lower than last fall’s frenetic pace.”
“Market conditions have improved, with the
months of supply declining from 11.1 in June
to 8.9 in September,” added Muir. A balanced
market typically exhibits five to seven months
of supply.
“The current downward pressure on mortgage
rates is expected to bolster housing demand this fall as consumers take advantage of a second
opportunity to secure near record low interest rates,” noted Muir.
Year-to-date, BC residential sales dollar volume increased 2 per cent to $29.6 billion, compared
to the same period last year. Residential unit sales declined 7 per cent to 59,228 year-to-date,
while the average MLS® residential price climbed 9 per cent to $500,539 over the same period.
British Columbia FactsJanuary 15, 2010

People of British Columbia
  • B.C.'s population was 4.405 million people as of December 2008.
  • British Columbia is home to people of many different origins, cultural traditions, languages, ethnicities, and religions.
  • B.C.'s aboriginal people are known as First Nations. There are 197 First Nations bands in the province, such as the Gitxsan, Haida, Nisga'a and Squamish.
  • The top 10 languages spoken are now (according to the 2001 Census): English, Chinese (including Cantonese and Mandarin), Punjabi, German, French, Tagalog, Spanish, Italian, Korean, and Dutch.
  • Each year, over 40,000 immigrants from around the world arrive in B.C.
One Big Province
  • B.C.'s total land and freshwater area is 95 million hectares, larger than France and Germany combined. Only 30 countries are larger. British Columbia occupies about 10 per cent of Canada's land surface.
Tourist Haven
  • Tourism contributed $13.1 billion to the provincial economy in 2008, up 35 per cent  since 2002.
  • The most popular categories of tourism activity are outdoor recreation, city activities and visiting attractions and cultural events.
  • For more information, visit Tourism B.C.
We're Game
  • B.C. is hosting the biggest sporting event in the world next year - the 2010 Winter Olympic and Paralympic Games in Vancouver and Whistler.
  • The Olympic are expected to generate over $4 billion in economic activity.
  • Vancouver is B.C.'s biggest city and is home to the NHL Canucks. Other pro sports teams in the city include: B.C. Lions of the Canadian Football League, and a new Major League Soccer Franchise the Whitecaps.
  • Over the last eight years, B.C. has developed an international reputation for sport hosting and have attracted, among other events, the:

    • 2011 Grey Cup Championship
    • 2010 World Wheelchair Rugby Championships
    • 2009 World Police & Fire Games (Burnaby)
    • 2008 North American Indigenous Games (Cowichan)
    • 2008 World Women’s Curling Championships
    • 2007 FIFA Under 20 World Cup Soccer
    • 2006 World Junior Hockey Championships (Kamloops, Kelowna, Victoria & Vancouver)
    • 2005 Grey Cup Championship (Vancouver)