Slight increase in real estate sales 

“We are seeing a slight increase in sales in many communities in the board area"

  • Apr. 12, 2017 5:00 p.m.

The B.C. Northern Real Estate Board (BCNREB) reported 934 sales with a value of $250,679,200 through the multiple listing service in the first quarter of 2017. This compares with 859 sales worth $217,647,633 to the end of March 2016.

As of March 31, there were 3591 properties of all types available for purchase compared to 3973 at this time last year.

“We are seeing a slight increase in sales in many communities in the board area compared to the sales at the same time last year,” said BCNREB president John Evans. “The economies of many B.C. northern communities are based on resources, thus local markets are affected by the implementation of new oil and gas projects, the closing of mines, and the commodity prices and demand.”

In the Burns Lake area, 17 properties worth $2.3 million have changed hands since Jan. 1. In the first three months of 2016, 16 properties worth $1.4 million changed hands. At the end of March 2017, there were 107 properties of all types available for sale in the Burns Lake area, compared to 102 at the end March 2016.

The Smithers area reported 56 sales with a value of $13.9 million to March 31, 2017. This compares to 44 sales worth $9.4 million to March 31, 2016. At the end of the first quarter there were 185 properties of all types available for purchase in the Smithers area, compared to 221 in March 2016.

“The Smithers market is affected by one mine closing and job loss, but there have been two mines that have opened in the area,” said Evans.

The Vanderhoof area reported 22 sales worth $3.6 million in the first quarter of 2017. In the first quarter of 2016, 13 sales were reported worth $2.4 million. At the end of March 2017 there were 101 properties available for purchase in the Vanderhoof area, compared to 116 at the end of March 2016.

In the first quarter of 2017, there were 15 sales worth $2.9 million in the Fort St. James area. In the first quarter of 2016, 13 sales worth $2.7 million were reported. As of March 31, 2017, there were 64 properties available in the area, compared to 67 last year.

In Prince George, 298 properties of all types worth $90.8 million have changed hands in the first three months of 2017. This compares to 281 properties worth $76.3 million by the end of March 2016. There were 547 properties of all types available within the city limits at the end of March 2017, compared to 600 properties last year.