Northern BC sets new record with 530 home sales in April
RiverBend Seniors Housing on 20th Avenue in PG (Vista Radio staff)
Northern BC continues to smash the record books when it comes to home sales.
According to the BC Real Estate Association, our region posted 530 unit sales last month, it’s best April ever after shattering the old mark of 457 in 2007.
Chief Economist, Brendon Ogmundson told Vista Radio while Prince George was front and centre, the rural areas had their fair share of success.
“A lot of it was due to activity outside of the Prince George area. While Prince George sales were really strong they were not at record levels so a lot of that monthly record was pushed by other areas of the Northern Real Estate Board.”
The average home price in our region is 386-thousand dollars, a 22% year-over-year increase when compared to April of 2020.
In Prince George, the price for a single-family home was a bit higher at 435-grand.
“We are seeing a bit of a supply response. These high prices tend to put listings on the market and we are starting to see some of that but it’s going to take some time to get back to a healthy balance.”
In terms of active listings in the north, over 1,600 could be found last month, a nearly 11% drop from a year prior where 1,806 homes were on the market.
In BC, roughly 13,700 units changed hands during April, a 300% increase when compared to the same month last year.
Province-wide, the average house price is $946,606, up 29% from twelve months earlier.