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Northern BC sees its highest level of home sales since 2006

Home sales across Northern BC reached record levels in July despite the fact we’re still in a pandemic that includes double-digit unemployment figures.

According to the BC Real Estate Association, 545 homes changed hands last month, compared to 462 during July of 2019.

That’s a year-over-year spike of 18% and is also the highest sales mark for our region since 2006.

Chief Economist Brendon Ogmudson spoke with MyPGNow.com

“We are in an odd situation wherein a recession we are seeing demand recover really strong and supply actually fall, normally in a recession, we would see demand fall and supply rising and in this case, we have the opposite here.”

“We are in a recession where the underlying economic activity is not strong but when we look at the housing market, the demand is still there because a lot of households who are in the market to buy their employment is not as at risk.”

The average home price in the region is 356-thousand, a spike of 16.5% when compared to July of last year.

Housing prices in Prince George continue to soar as 77 single-family homes were sold last month for an average price of 438-thousand dollars.

In BC, the average residential price is 770-thousand dollars, a 13 percent increase from the previous year.

Something going on in the Prince George area you think people should know about?
Send us a news tip by emailing [email protected].

Brendan Pawliw
Brendan Pawliw
Since moving to Prince George in 2015, Brendan has covered local sports including the WHL’s Prince George Cougars, Prince George Spruce Kings, UNBC Timberwolves, Cariboo Cougars AAA, and Northern Capitals U18 female hockey teams. Career highlights include play-by-play during the Spruce Kings' BCHL championship runs in 2018 and 2019, including the Doyle Cup win. He also covered the 2019 National Junior A Championship, the 2017 Telus Cup, the 2022 World Women’s Curling Championship, and the 2022 BC Summer Games. Brendan is the news voice on 94.3 The Goat and Country 97 FM, reporting on crime, real estate, labour, and environmental issues. Outside of work, he officiates box lacrosse and fastball, sits on the Prince George Sports Hall of Fame board, and co-hosts the Hockey North podcast.

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