Northern BC home sales experienced a 20% spike over the last 12 months.
According to the BC Real Estate Association, 304 unit sales took place in the region last month, up from the 253 that were recorded in November of 2023.
Chief Economist, Brendon Ogmundson told Vista Radio our region has some good momentum right now.
“We saw the market hold on to some of the gains in October and November and we will continue to see the sales come up with the rates coming down. There is a lot of uncertainty of course in 2025 about where rates and the economy might be headed.”
“Listings are coming down a bit, which means we have a little extra pressure on prices, seeing a 4% increase in prices year-over-year for the north.”
Province-wide, the BCREA reported 5,841 residential unit sales were recorded in November 2024, up 25.7 per cent from November 2023.
The average price of a home in Northern BC is $418,495 – for the province, that number is over twice as high at $979.221.
Year-to-date, the BC Northern Real Estate Board has tallied 3,843 unit sales, up 10% when compared to November 2023 where the figure 3,484.
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