With the weather turning a lot more favourable housing activity in Prince George is ramping up for the spring and summer months.
In March, 56 single-family homes came off the market for an average price of 518-grand. During the same time last year 60 of these units changed hands for a little over 504-thousand dollars.
To date, 137-single-family sales have been made since January 1st, up from 108 when compared to March of 2023.
Kristine Newell with the BC Northern Real Estate Board told MyPGNow.com interested buyers are no longer allowing higher interest rates to scare them away.
“So far this year, we have sort of seen that buyer who had somewhat of a sticker shock when the rates came back up after the historic lows in 2020 and 2021. We have sort of gotten used to getting back to normal and for a long time, we were hearing people say they are going to wait until the rates come down.”
“We aren’t hearing that anymore.”
Newell added with the weather becoming much warmer, activity is starting to heat up.
“I’ve become quite busy within the past week with a lots of phone calls and being out on another call with a few other agents around the region they are all saying the same thing. With the warmer weather, with the snow melting, it is pretty typical we are entering into that busy spring market this year.”
While College Heights and the Hart areas of PG are often among the most popular places to buy, other parts of the city are getting in on the action.
“West-of-the-bypass, especially the Heritage area is doing quite well. Funny enough, we have zero in the city southeast, which is the Blackburn-Pineview area – this is showing as 100% down year-over-year as far as sales go but it’s just a smaller market.” Newell said.
So far this year, 237 properties have been sold in the northern capital, well ahead of last year’s pace of 186 unit sales.