The housing market in the North continues to be hot according to data released by the BC Northern Real Estate Board.
During the first quarter of 2021 Smithers reported 70 property sales with a value of $22 million.
This is an increase from 2020 which saw 43 properties sold with a value of $12 million.
The average price for a single-detached home within the Smithers region was $385,068 but according to board Vice President, Sandra Hinchcliffe the averages should be taken with a grain of salt.
She added all it can take is one high sale to change that average price.
Hinchcliffe said she is noticing people from outside of the North are purchasing homes within the region.
“In the last year or so I’ve seen a lot more people coming in from urban centres like Vancouver, Calgary then ever before and even Ontario,” she said.
Hinchcliffe also said she has seen a few competing offers.
“In a multiple offer situation the house often goes over asking, the market has adjusted for that kind of pricing strategy where realtors and sellers price their house well below what they expect it to sell,” She said.
Meanwhile in Burns Lake, 30 properties worth $8.3 million changed hands since January 1st.
This also increased as well where 4 properties were sold worth $456,000.
As of March 31, in Smithers there were 65 properties of all types available for purchases where in Burns Lake there were 48 properties available.
Throughout the entire Region 1530 sale with a value of $501,952,330.
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