According to the BC Real Estate Association, 412 residential units sold last month across the north.
The new number equates to a 21% increase compared to the same time last year while the number of listings in the region declined by 7% over the past 12 months.
The region continues to be led by the recent activity in Prince George according to BC Real Estate Association Chief Economist Cameron Muir.
“There has been a lot of construction in Prince George, last year, home starts were up 53% and mainly on the back of multi-unit projects and this year we’re fewer housing starts but still at a fairly healthy clip overall.”
The northern capital is feeding off the strong provincial economy, which will enjoy its fourth consecutive year of at least 3.0% GDP growth.
Muir adds this could lead to good things for the city.
“That has a tremendous cumulative effect on job growth as well as migration with footloose households moving to other provinces like BC in search of the jobs, so that’s a good foundation to the housing market overall and we’re certainly expecting that to continue in the near term.”
The average home price in Northern BC during October was under $250,000.
It’s considerably higher in Prince George at just over $320,000.
BC Home Sales Rise Despite Low Level of Supply. Latest stats: https://t.co/RSMsH2ygp1 pic.twitter.com/SlyoCX0Cmd
— BC Real Estate Assoc (@bcrea) November 14, 2017