Northern BC home prices remain stagnant in August
New numbers from the BC Real Estate Association show the average home price for Northern BC sits at over $263,000.
That’s a decline of 0.8% from the same time last year.
Chief Economist, Cameron Muir says the region made good progress in August when it came to unit sales.
“Last month BC Northern unit sales were up about 8% compared to August of 2015 so this month was certainly better than we what we saw from August of last year.”
MYPGNOW asked Muir if the region is recovering after an economic downtown and Muir responded with this.
“Well, I think it depends where you are, service centres like Prince George has done quite well because of its diversified economy but other areas that rely on the oil and gas sector are still feeling the bite from weak commodity prices.”
438 residential units were sold last month in Northern BC.