It was a quiet February for housing sales in Prince George according to the BC Northern Real Estate Board.
49 single-family homes came off the market last month, that’s down slightly when compared to February 2024 where 52 transactions were made.
President, Kristine Newell told MyPGNow.com that while the numbers might suggest there has been a plateau, there are reasons for optimism.
“The only other number from February 2025 over 2024 that was really interesting was the days on market. It’s gone down to 41 and it was at 63 the year earlier so that does tell us homes are selling quickly. We are a very seasonal market and we think that once the snow is gone their yards are cleaned up there is going to be a lot more coming online.”
“What we are seeing is a lot of the lower-valued homes are listing and aren’t going into multiple offers. We’ve got a ton of buyers waiting in the wings with the interest rates continuing to decrease. We don’t see that changing until the spring market hits and a bunch more listings come online.”
Newell added the political volatility south of the border could lead to some price adjustments in Prince George.
“The uncertainty and the tariffs south of the border is likely going to drive up the cost of new housing and we are anticipating it will drive up the cost of our used housing stock as well because there is no new housing stock going in.”
Over the past 12 months (February 2025 to February 2024), the average selling price for a single-family home in the city has dropped by $33,625 ($516,373) to $482,748.
In the first two months of 2025, 84 single-family homes have been sold in Prince George, an increase of three when compared to 12 months earlier.
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