Known for beautiful beaches, mountains, lakes and a picturesque coastline — it's no surprise that British Columbia real estate is the most expensive market in the country.
The nationwide study compared the price per square foot of properties sold between Jan. 1 and June 30, 2022, with the same period last year and the previous year. In B.C., the survey points to high prices making buyers look outside the downtown core. Kelowna and Chilliwack, for example, saw sharp price increases. Condos in those two cities saw a 28 per cent and 35 per cent increase in price, respectively, in the first half of the year, according to the release.
Ogmudson says prices are still up in every region in B.C. year-over-year, as they went up 30 to 40 per cent in the last 12 months.