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HomeNewsHousing sales continue to trend downwards

Housing sales continue to trend downwards

Home sales in northern BC were down this month compared to previous years.

The Northern BC Northern Real Estate Board (BCNREA) reported 726 sales for the first quarter of 2023, compared to 1257 in 2022.

In the Bulkley Valley, Smithers reported 24 sales between January 1st and March 31st, including ten single-family homes and six homes on acreage.

This is compared to 30 homes changing hands in the same time frame last year.

Burns Lake reported 11 house sales this year, down from 20 homes sold as of this time last year.

Sales in Smithers were valued at $11.9 million total, with Burns Lake totaling $3 million.

Hazelton and Highway 35 are a new statistical area, reporting five properties being sold this year. The same as last year.

Previously, Hazelton was counted in the Smithers report.

According to the real estate board, this is the continuation of a prolonged downward trend that began about one year ago.

Dispite the declining sales and prices, the baord said there are signs the housing market could be picking back up.

One of these is the decline in active listings, which indicated sales outpaced new listings while other areas of the province raising sales and prices.

BCNREA forecasts sales will hit 3,500 this year before rising to 4,200 in 2024.

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