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October 27, 2017 10:06 pm

Housing Prices Up in Prince George

Thursday, July 7, 2016 @ 5:58 AM

Prince George, B.C.- Home sales in Prince George  are steady but the average selling price  is up.

Overall, the average selling  price in Prince George  during the first half of this year is  $300,903, up from the  average  sale price of  $282,254 dollars during the same period a year ago. But  there is  little change in the number of homes sold,  as there were 486 sales during this period  in 2015,  and  484 during the first six months of 2016.

In its second quarter report, the BC Northern Real Estate Board (BCNREB) reports  that as of the end of June, most of the home sales have taken place in the western part of the City,  where  143  single family homes have sold  and the median price  was  just over $269 thousand.

It’s the southwest  part of the City  where  there is not only  lots of activity (125  single family homes sold)  but  the highest median  price, which was $352 thousand.

In the area east of the Bypass, 95 single family homes have sold and  the median price  was just over $225 thousand.

In the northern part of the City 110 single family homes sold with a median price of $310,000.

As for the  full  Northern region,  there are what BCNREB President William Lacy calls “Surprisingly bright spots”.  Terrace, Kitimat,,  Prince Rupert and Mackenzie  have all seen increased  activity and higher average sale prices.

“We still have some concerns” says Lacy “but many areas are up over last year, which bodes well for the North having a solid year overall. Ideally, we will get a couple of announcements in the later half of the year, and those markets that rely on the bigger economic projects will get the catalyst they need.”

The areas  needing a “catalyst” are Fort St. John  and Fort Nelson.

Both communities have seen the numbers of homes sold and the selling price, drop.    In Fort St. John the average selling price  so far this year is  $405,421,  down from the $422 thousand average  price during the same period in 2015.

In Fort Nelson, the average selling price   for the first half of the year is just shy of $226 thousand, down from $316, 390 recorded during the same period a year ago.

Below are the Year to date  numbers for communities  showing sales and average  selling prices of  single family homes:



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