Housing activity in Prince George is heating up once again.
According to RE/MAX Core Realty, 67 detached homes came off the mark in March for an average selling price of $511,000.
That’s a stark improvement from February when 39 units changed hands and sold for just over $456,000.
Realtor, Bob Quinlan told MyPGNow.com that there have been some interesting trends as borrowing rates remain high.
“Sellers are getting 97 to 97.5% of their asking price, which means buyers are waiting for the price to get close before they make an offer.”
“One of the things I see between February and March is that the days on the market are less, which means they are selling quicker. The realtors are out there, we have a lot of open houses and what we are seeing is a lot of buyers are coming out but they are being very picky.”
Quinlan added buyers are a lot more selective than they once were.
“It’s interesting because there are a lot of buyers right now and there still needs to be more listings to come out and sellers who are getting price close to people are able to pay.”
As of the end of March, 134 detached homes have been sold in the Greater PG area – a far cry from the same time last year when 251 homes were purchased.
In terms of attached homes such as apartments and townhomes, 18 were sold last month compared to ten in February – the average selling price is a shade under $293,000.
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