In Burns Lake, 37 properties worth were sold in the first half of 2019, compared to 39 properties in the same period for last year, according to a recent report from the BC Northern Real Estate Board. (Lakes District News file photo)

Regional real estate sales down so far in 2019

Real estate sales in the northwest and Bulkley-Nechako regions of British Columbia are lower for the first half of 2019 compared to the same period last year.

That is part of the wider trend across northern B.C., according to a report from the BC Northern Real Estate Board (BCNREB) on July 5.

“Many of the communities in our board region saw a decrease in number of sales and number of listings. Overall the sales activity has decreased by 7.64 per cent, and the number of active listings has increased by 5.55 per cent,” said BCNREB President Leah Mayer.

In Burns Lake, 37 properties worth $5.6 million were reported sold in the first half of 2019 through the multiple listing service (MLS), compared to 39 properties worth $5.3 million in the same period last year. At the end of June there were 101 properties of all types open for purchase through the MLS in the Burns Lake area.

In Houston, 28 properties worth $5.2 million were sold so far this year, compared to 14 properties worth $3 million in 2018. As of June 30, there were 32 properties of all types available for sale in the Houston area.

In Vanderhoof, 61 sales worth $19 million were reported in the first six months of the year, up from the 57 sales worth $11.1 million from Jan. 1 to June 30, 2018. From June 30 this year, there were 128 properties of all types ready for sale through the MLS in Vanderhoof.

In Fort St. James, 26 properties worth $4.6 million have sold through the MLS so far this year, compared with 29 properties worth $6.2 million in the first six months of 2018. By the end of June in Fort St.James there were 86 properties of all types available for purchase.

In Smithers, there were 113 sales reported, with a value of $35.3 million in the first six months of 2019, compared to 125 sales worth $37 million for last year. Half of the 53 single-family homes sold until June 30 sold for less than $265,000 and took about 42 days to sell. Twelve parcels of vacant land and 26 homes on acreage also changed hands since Jan. 1. As of June 30, there were 133 properties of all types available for sale in Smithers.

Looking northwest, in Prince Rupert 89 properties worth $23.5 million have been sold through the MLS so far this year, compared to 113 properties worth $31.2 million in the first half of 2018. The average price of the 65 single-family homes that were sold was $263,500. It took these homes 124 days on average to sell. Up to June 30, there were 189 properties of all types available for purchase through the MLS in that coastal city.

A report from BC Assessment in early January forecast that the value of residential homes in northern B.C. would rise in 2019 compared to 2018.

LOOK BACK: Northern B.C. property values to rise in 2019


Blair McBride
Multimedia reporter
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