It’s a Seller’s Market- says BCREA
According to the latest stats from the BCREA, sales in the BC Northern Real Estate region have inched up (0.6%) in the first four months of this year over the same period a year ago. However, the average price has increased 5.2% during that same time frame . During the period of January to April 30th of this year, the average price was $273,200. Last year during the same period, the average price was $259,819.
Comparing just April’s real estate activity, the number of listings in the BC Northern Real Estate region last month dropped 15.6% compared to April 2016, and the average selling price was up 4.7% from $271,514 in April of 2016 to $284,184 last month.
Province wide, the BCREA says the supply of homes for sale in B.C. dropped 17% last month and is at its lowest level in 5 years. That imbalance in supply and demand is driving prices higher.