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HomeNewsHistorically low housing inventory in Smithers says BCNREB President

Historically low housing inventory in Smithers says BCNREB President

The housing market remains hot in the Smithers area.

That’s according to BC Northern Real Estate Board President Sandra Hinchcliffe who says there is very low inventory within the region.

She said that the inventory that we do have is historically low.

“Specifically in the Town of Smithers there are only seven listings of residential detached listings so, that’s really really low, overall Smithers, Telkwa and Smithers rural there are 23 listings,” Hinchcliffe said.

She added that even though the listings are showing as active it still could mean that they have accepted offers.

According to Hinchcliffe, prices also continue to increase.

She said that before the COVID-19 pandemic prices were steadily increasing but, once the pandemic hit the prices jumped dramatically.

“Low inventory really pushes the prices up because often there are multiple bidders on listings, “Hinchcliffe said.

She also explained why she believes the region is seeing such a hot housing market.

“It is supply and demand and I think our best kept secret is probably out of the bag,” Hinchcliffe said.

The housing market has been hot across the country according to Hinchcliffe.

She also said it is important whether someone is buying or selling to get good advice because it is a difficult market and a big decision.

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