Single-family homes in Prince George sold for nearly 458-grand in 2021 according to the BC Northern Real Estate Board.
Since 2019, the selling price has ballooned by $86,631.
In total, 1,101 units changed hands last year.
Director, Breanne Cote told MyPGNow.com the spike follows an upward trajectory dating back to two years ago.
“That’s up from last year where we had 850 sales and in 2019 we had about 922 sales. It was almost a record-breaking year for BC Northern Real Estate – not quite as high as what we saw in 2006 or 2007 but pretty close.”
In the area west of the by-pass, half of the 355 single-family homes sold in 2021, went for less than $411,500. As well, 32 apartment units and 67 townhouses changed hands. As of December 31st, there were 18 single-family homes available, compared to 14 at the same time last year.
East of the by-pass 49 apartment units, 29 half-duplexes, and 37 townhouses changed hands last year. The 200 single-family homes sold had a median value of $348,900. At the end of December, there were 12 single-family homes available for sale compared with 19 at the end of 2020.
In the northern part of the city, 34 homes on acreage, 32 manufactured homes in parks, and a further 63 manufactured homes on land sold in 2021. Of the 225 single-family homes, half sold for less than $465,500. At the end of the year, there were 11 single-family homes available compared with 19 at the end of 2020.
In the southwest sector 15 half-duplexes, 21 townhouses, 13 homes on acreage, 12 manufactured homes in parks, and a further 9 manufactured homes on land went to new owners. Half of the 306 single-family homes sold in 2021 went for less than $522,000. At year-end, there were 29 single-family homes available for sale in the southwest sector, compared with the 20 at the end of 2020.
Cote is hopeful in 2022 we will see a rebalancing of the market.
“It will probably still be a seller’s market but hopefully, it will start to even out a little bit and become easier on both sides. I think we are going to see a lot more multi-family houses, duplexes, townhouses, and condos but then when we do see more of those come up for sale we are going to see more of a release on the single-family homes.”
Overall, 1718 properties worth 710-million dollars were sold in Prince George during 2021.
Across the north, over 67-hundred property sales were recorded in 2021 worth 2.4 billion dollars.
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