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BC Northern Real Estate Board finds average prices for residential detached homes increase

The BC Northern Real Estate Board has issued its third quarter report for 2022.

In the Bulkley-Nechako region it has found that in most places less homes were sold in the first nine months this year than in 2021.

As of September 30, there were 140 properties worth $69 million changed hands in the Smithers area.

This is compared with 187 properties sold worth $69.3 million in the first nine months of 2021.

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According to the BCNREB, 51 single-family homes sold so far this year for less than $515,000 and took an average of 68 days to sell.

The data release found that the average price for a residential detached house this year is $548,821 which is $150 thousand more than it was last year.

Additionally, 16 parcels of vacant land, 34 homes on acreage, 15 manufactured homes in parks and 9 manufactured homes on land were sold.

As of September 30, 78 properties of all types were available.

Meanwhile, in Houston 55 properties worth $14.7 million were sold compared with 70 properties worth $14.3 million during the same period last year.

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The average price for a residential detached house went up slightly in 2022 to $251,967 from $250,175 last year.

As of September 3044 properties of all types were available in Houston.

In Burns Lake, during the first nine months of 2022 59 properties worth $16.2 million have been reported as sold.

This is a decrease from 2021 where 78 properties worth $18 million in the first nine months.

For the residential detached homes the average price is being reported as $266,192 compared to $186,650 in 2021.

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There were 62 properties of all types available for sale in the Burns Lake area as of the end of September.

Lastly, in Hazelton 32 properties worth $8.5 million changed hands during the first nine months of this year, compared to 30 properties worth $6.9 million in 2021.

38 properties were available at the end of September according to the BCNREB.
Across the board, 4141 properties worth $1.7 billion in the first nine months of 2022, which was lower than last year which saw 5306 properties worth $1.9 billion changed hands.

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