Property Sales Off Slightly in Northern BC
Prince George, B.C. – Property sales are down slightly year over year in Northern, B.C.
The Northern Real Estate Board (NREB) reports 3,833 properties worth $979.3 million sold through the Multiple Listing Service (MLS) in the first nine months of 2015.
At this time last year, 4,195 properties worth $1.07 billion had changed hands.
The NREB also reports that as of September 30th, there were 4,575 properties of all types available for sale through MLS, down slightly from the 4,658 through September, 2014.
“Given the slump in energy prices and overall economic lull, it is reassuring to see the overall numbers for the BCNREB are holding strong,” says vice-president William Lacy.
“Certain areas have been hit harder, but other areas are showing increases in prices and overall activity to create for a balanced result through the third quarter of the year.”
Despite the drop Lacy maintains a positive outlook.
“With predicted increases in global activity, and growth predicted for BC in the coming quarters, we are looking for a solid close to the year and for increases to resume throughout next year.”
Communities showing a slight uptick in both units sold and in property value include Smithers, Burns Lake and Prince George.
For a detailed analysis of how each northern community fared, see the attached graph.