Even with interest rates going up, the seller’s market in Prince George continues to be red-hot.
The average price for a single-family home is 571-thousand dollars, up significantly from April of 2021 when it was $472,500 – that’s a spike of over 98-grand.
Bob Quinlan with the BC Northern Real Estate Board explained to MyPGNow.com where some of the growth is coming from.
“A big part of the city is west of the bypass and that is where duplex prices are up to around $573,000. We’ve got more condo sales happening and the prices are up to around $227,000.”
Quinlan also gave a snapshot of what is taking place in the Hart and College Heights neighbourhoods.
“Out into the northern part of the city, listings and sales are down but prices are up overall anywhere from 5 to 15%. In the College Heights area, the number of sales is down but for what has been sold the prices have gone from $550,000 to $691,000.”
So far this year, 79 single-family homes have been sold in PG, down from the same time last year after 109 properties changed hands.
In terms of total properties, 111 came off the market during April – a decrease of 50 when compared to the same month last year.
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