Prince George, B.C. – The BC Northern Real Estate Board  says the market in Prince George  is seeing increased activity in both sales and the average sale price.

In the  second quarter report,  BCNREB President John Evans says  there is still one  price range of home in the city which  has  limited  inventory “Inventory remains limited in the $200,000 to $375,000 price range, which is favoured by new home buyers.  Anecdotally, there has been an increase of both local and lower mainland buyers interested in investment properties capable of producing steady income, such as duplexes. As rental rates rise, interest is piqued from out-of-area investors, adding an increase in demand for these types of properties.”

The report,  which includes all sales from January 1st to the end of June throughout the Board’s entire region,  says  there  were 817 properties worth $234.9 million dollars sold.  That compares to 754 properties with a combined value of  $211  that sold in the same 6 months of last year. So the average price during the six months of 2017  was $287.5 thousand,   up from the $279.8 thousand dollar average price recorded  during the same period in 2016.

Evans says  the number of sales  in June,  made it the fourth highest  June on record,  and the best June for sales in the last decade.  But, Evans adds, the news across the entire Board  region was not all positive  with  communities dependent on oil, gas or possible LNG  projects,  showing  slow sales numbers compared to  the past.

Here are some of the highlights:

Mackenzie: The number of sales is down, and the average selling price   has dropped to $167.8   from  the average price of $187.3 recorded  during the  first 6 months of 2016.

Quesnel: Sales are up,  average  selling price has slipped  to $193,973,  down from just over $212 thousand  during the same period a year  ago.

Vanderhoof:  Sales are up  as are prices, the average selling price was  $193,877,  up from $183,300  recorded in the same period a year ago.

Fort St John: sales activity up, and number of active listings is down.

Prince Rupert sales and sales-dollar volume have increased slightly. The continued growth of the Port of Prince Rupert coupled with the AltaGas propane terminal construction have been a contributing factor.

Terrace:  Sales and number of listings have dropped only slightly this year compared to last year showing a steady and stable market;

Smithers, both sales and number of listings have risen.  The Smithers market has benefited from the Red Chris and Brucejack mines, which have been providing employment in the area, mitigating the loss of the Huckleberry mine.

Williams Lake showed increases in sales activity and average sale price of a single-family home.

100 Mile House continues to be one of the Board’s busiest markets, with an increase in sales activity of 12% year-over-year and an increase in the average price of  units sold.

Average Selling Price (Year to Date)

Residential Detached House