Prices up this year in Burns Lake area

The average selling price of a single family home in the Burns Lake area was $120,702 on June 30, 2016 - up from $110,949 on June 30, 2015.

The average selling price of a single family home in the Burns Lake area was $120,702 on June 30, 2016 – up from $110,949 on June 30, 2015.

In the first six months of 2016, 34 properties were reported sold in the Burns Lake area, compared to 46 properties in the same time period last year.

Burns Lake realtor Dennis Bock said the local real estate market has changed.

“The number of sellers has decreased, and the number of buyers has increased,” he explained. “Since there are more buyers looking for the same classification of properties, the price will go up; since there is less inventory, fewer properties are sold.”

At the end of June, there were 145 properties of all types available for purchase through the multiple listing service (MLS) in the Burns Lake area.

The B.C. Northern Real Estate Board (BCNREB) reported 2389 properties sold in the first six months of 2016, slightly up from the 2376 sales reported in the first half of 2015.

“With our mid-year numbers we are seeing some surprisingly bright spots throughout the northern part of the province,” said BCNREB president William Lacy. “We still have some concerns, but many areas are up over last year, which bodes well for the north having a solid year overall.”

In Houston, 33 properties have changed hands so far this year, compared to 35 properties in 2015. The average selling price of a single family home in Houston was $154,781 on June 30, 2016 – up from $149,150 on June 30, 2015.

The Smithers area reported 126 sales in the first six months of 2016, compared to 132 sales at this time last year. The average selling price of a single family home in Smithers was $232,379 on June 30, 2016 – down from $271,206 on June 30, 2015.

In Fort St. James, 33 properties have sold so far this year, compared with 29 properties in the first six months of 2015. The average selling price of a single family home in Fort St. James was $207,338 on June 30, 2016 – up from $161,318 on June 30, 2015.

The Vanderhoof area reported 49 sales in the first six months of the year, compared to 57 sales on June 30, 2015. The average selling price of a single family home in Vanderhoof was $204,900 on June 30, 2016 – slightly up from $204,702 on June 30, 2015.

In the City of Prince George, 754 properties have changed hands so far this year, compared with 721 properties in the first six months of last year. The average selling price of a single family home in Prince George was $300,903 on June 30, 2016 – up from $282,254 on June 30, 2015.