According to the B.C. Northern Real Estate Board (BCNREB), the second quarter of 2017 has shown strong home sales in many areas across the region.
“June was a particularly strong month in sales, being the fourth highest June on record and the best June for sales in the last 10 years,” said BCNREB president John Evans.
The BCNREB reports 2583 properties sold through the Multiple Listing Service (MLS) in the first six months of 2017, up from the 2389 sales reported in the first half of 2016.
The value of these properties was $693.5 million compared with $611 million in 2016. At the end of June there were 4394 properties of all types available for purchase through the MLS, down from 4689 at the same time last year.
However, the news across the entire board area was not all positive.
“Communities dependent on oil, gas, or potential LNG projects continue to show sales numbers below previous years, though there has been some slight improvement for a few communities,” said Evans.
In the Burns Lake area, 40 properties worth $6.5 million were reported sold through the MLS in the first six months of 2017, compared to 34 properties worth $3.7 million in the same time period last year. At the end of June there were 127 properties of all types available for purchase through the MLS in the Burns Lake area. The average selling price (year to date) of a residential detached house in Burns Lake is $127,701.
In Houston, 24 properties worth $4.5 million have changed hands so far this year, compared to 33 properties worth $5 million in 2016. As of June 30, there were 66 properties of all types available through the MLS in the Houston area. The average selling price (year to date) of a residential detached house in Houston is $155,857.
In Smithers, both sales and number of listings have risen. The Smithers market has benefited from the Red Chris and Brucejack mines, which have been providing employment in the area, mitigating the loss of the Huckleberry mine.
The Smithers area reported 149 sales with a value of $38 million in the first six months of 2017, compared to 126 sales worth $27 million at this time last year. As of June 30, there were 205 properties of all types available through MLS in the Smithers area. The average selling price (year to date) of a residential detached house in Smithers is $270,807.
The Vanderhoof area reported 60 sales worth $11 million in the first six months of the year, compared to 49 sales worth $9.5 million to June 30, 2016. As of June 30, there were 147 properties of all types available for purchase through the MLS in the Vanderhoof area. The average selling price (year to date) of a residential detached house in Vanderhoof is $209,110.
In Fort St. James, 29 properties worth $5 million have sold through the MLS in the Fort St. James area so far this year, compared with 33 properties worth $7.2 million in the first six months of 2016. At the end of June there were 81 properties of all types available for purchase through the MLS in the Fort St. James area. The average selling price (year to date) of a residential detached house in Fort St. James is $192,800.
The markets in Prince George picked up in the spring and have continued to be active, with an increase in both sales activity and average sale price. A total of 817 properties worth $234.9 million have changed hands so far this year, compared with 754 properties worth $211 million in the first six months of last year. At the end of June there were 632 properties of all types available for purchase through the MLS in Prince George. The average selling price (year to date) of a residential detached house in Prince George is $317,856.
