â–º Listen Live
â–º Listen Live
HomeNewsNorthern BC homes sales experience 21% increase to begin 2018

Northern BC homes sales experience 21% increase to begin 2018

Over 230 units were sold across Northern BC to kick off the new year according to the BC Real Estate Association (BCREA).

The increase is a major step up from just 12 months earlier says Chief Economist Cameron Muir.

“Compared to a year ago, the BC Northern Region saw a twenty-one percent increase in home sales in January and that’s a significant increase compared to what we have been seeing in the first half of last year and overall, across the north, we’re seeing some pretty stable conditions.”

“Rural sales to active listings ratios and the kind of supply and demand commissions across the north are certainly a lot tighter across the north this year than they were a year ago and that’s continuing to show prices growing around overall rate of inflation.”

- Advertisement -

However, a large gap will still remain between Prince George and many of the resource-based communities when it comes to the economic conditions.

“We’ve seen four years now of real GDP growth above three-percent, pretty strong job growth overall in the province and that’s certainly helping to benefit the Prince George market and we can see that reflected in housing starts activity, which has ramped up over the past couple years.”

The BCREA is expecting a two to three percent increase in overall pricing across the north including Prince George.

The average home price for the region sits around $260,000, while the mark is a lot higher in PG at around $320,000.

- Advertisment -
- Advertisment -
- Advertisement -

Continue Reading