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Board News Releases

News Release - November 17, 2017

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The BC Northern Real Estate Board supports many of the rule changes recently announced by the Superintendent, but is disappointed in the banning of limited dual agency without clear practice guidelines for small offices.

“The new rules are a response to problems arising in the very large and very busy lower-mainland market”, notes BC Northern President John Evans. “Unfortunately, with limited dual agency gone, what is left are agency rules designed for larger offices and we are a board of small offices.”

BC Northern Vice-President, Court Smith, notes: “I broker a small office in Williams Lake and have real concerns going forward. According to lawyers and instructors contacted by the Board, the type of agency meant for larger offices just cannot be properly practised in smaller offices. Will I have to close my office and lay off my licensees? I am hopeful that the Superintendent will find a solution soon.”

“What will replace limited dual agency for the smaller office remains unclear at this point,” adds Mr. Evans. “We have asked the Office of the Superintendent of Real Estate to consider the issue and we hope to receive some guidance.”

The BC Northern Real Estate Board strongly supports the rule changes clarifying licensee disclosure requirements to consumers. In fact, the new rules largely codify information REALTORS® provide now.

Stronger licensee education is also supported by the Board. BC Northern already requires members to take more education than is currently required by the Real Estate Council of British Columbia and believes additional Superintendent-mandated courses will benefit the profession.

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 70 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

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For more information, contact:

John Evans, President (Terrace/Prince Rupert)                         250-638-7001
Court Smith, Vice-President (Williams Lake)                             250-392-5959
William Lacy, Past President (Quesnel)                                     250-992-7202
Bob Quinlan, Director (Prince George)                                       250-562-2121
Leah Mayer, Director (Prince George)                                        250-564-4488
Shawna Kinsley, Director (Prince George)                                 250-564-4488
Sandra Hinchliffe, Director (Smithers)                                        250-847-5999
Wynnette Lowes, Director (Fort St. John)                                  250-787-2100
Mike Austin, Public Director (Williams Lake)                              250-267-2211

 

News Release - October 6, 2017

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Steady as she goes in BC Northern!

The BC Northern Real Estate Board reports 3878 properties worth $1 billion sold through the Multiple Listing Service® (MLS®) in the first nine months of 2017. At this time last year, 3834 properties worth $973.2 million had changed hands. As of September 30th, there were 4148 properties of all types available for sale through the MLS®, down from 4519 properties at the end of September last year.

BCNREB President John Evans comments: “In many of the communities, sales statistics for the 3rd quarter are looking very similar to what we saw in 2016.”

In the Northern Region of the Board, sales activity in Fort St John is up over last year, and the number of active listings is down slightly. Recent seasonal layoffs at the Site C Dam have not yet shown an effect on the market. Work continues on many of the pipeline projects. In Fort Nelson, the sales have increased and the listings have slightly decreased.

In the West, Prince Rupert sales and sales-dollar volume have increased slightly. Kitimat’s sales are slightly lower and inventory is down from last year. Sales and number of listings in Terrace have dropped only slightly this year compared to last year. In Smithers, both sales and number of listings have risen, though there is still a supply crunch in residential detached housing. Overall, Smithers has seen steady demand throughout the year.

In the South, Williams Lake had relatively no change in sales activity when compared to last September, though the number of listings coming onto the market has gone down slightly. 100 Mile House had a decrease in sales and number of listings year-over-year.

In Prince George, there was an increase in sales activity and average sale price. There was no change in number of listings when compared to September 2016. Inventory is limited for residential detached houses.

By Region:

Cariboo Region:

100 Mile House: So far, this year 438 properties worth 102.3 million have changed hands, compared to 500 properties worth $110.5 million to the end of September in 2016. Half of the 121 single family homes that have sold, sold for less than $270,000 and took, on average, 60 days to sell. In addition, 149 parcels of vacant land, 107 homes on acreage, 3 manufactured homes in parks and a further 22 manufactured homes on land, as well as 23 recreational properties have sold this year. As of September 30th, there were 476 properties of all types available for purchase through the MLS® in the 100 Mile House area.

Williams Lake: 348 properties worth $80.7 million have sold in the first nine months, compared to 346 properties worth $80.2 million in the same period last year. Of the 142 single family homes sold to the end of September, half sold for less than $236,000 and these homes took, on average, 67 days to sell. In addition, 20 parcels of vacant land, 17 townhomes, 74 homes on acreage, and 31 manufactured homes in parks and a further 37 on land, have sold this year. At the end of September, there were 342 properties of all types available for purchase through MLS® in the Williams Lake area.

Quesnel: To the end of September, 262 properties worth $53.5 million sold through MLS® compared to 255 properties worth $48.5 million to the end of the third quarter of 2016. Half of the 112 single family homes sold so far, this year sold for less than $192,000 and took, on average, 63 days to sell. Also changing hands this year were 18 parcels of vacant land, 77 homes on acreage, 15 manufactured homes in parks and 22 manufactured homes on land. At the end of September, there were 208 properties of all types available for purchase through the MLS® in the Quesnel area.

Northwest Region:

Prince Rupert: 170 properties worth $47.1 million changed hands so far this year in the Prince Rupert area, compared with 164 properties worth $43.9 million to the end of September 2016. Of the 130 single family homes that have changed hands this year, half sold for less than $285,000 and on average, took 82 days to sell. As of September 30th, there were 170 properties of all types available through the MLS® in the Prince Rupert area.

Terrace: In the first nine months of the year, 178 properties worth $49.1 million were reported sold in the Terrace area, compared to 197 properties worth $56.2 million during the same period last year. Half of the 107 single family homes that have sold so far this year, sold for less than $308,000 and these homes took, on average, 74 days to sell. Also changing hands were 11 parcels of vacant land, 21 homes on acreage, 15 manufactured homes in parks and 5 manufactured homes on land. At the end of September, there were 259 properties of all types available through the MLS® in the Terrace area.

Kitimat: 73 properties worth $15.6 million have changed hands in the first nine months of 2017, compared to 78 properties worth $20.1 million to September 30th of 2016. Of the 60 single family homes sold so far this year, half sold for less than $211,000. These homes took, on average 120 days to sell.  In addition, 3 half duplexes and 5 townhomes were also sold this year. At the end of September there were 89c properties of all types available through the MLS® in the Kitimat area.

Bulkley Nechako Region:

Houston: To the end of September, 38 properties worth $7.3 million sold in the Houston area, compared with 44 properties worth $6.2 million in the same period last year. At the end of September, there were 58 properties of all types available for purchase through MLS® in the Houston area.

Smithers: As of September 30th, 217 properties worth $56.7 million changed hands in the Smithers area, compared with 203 properties worth $46.6 million in the first nine months of 2016. Half of the 100 single family homes sold so far this year, sold for less than $274,000 and these homes took, on average, 58 days to sell. Also changing hands this year were 25 parcels of vacant land, 53 homes on acreage, 11 manufactured homes in parks and 7 manufactured homes on land. As of September 30th, there were 202 properties of all types available through the MLS® in the Smithers area.

Burns Lake: So far this year 76 properties worth $12 million have been reported sold through MLS® compared to 59 properties worth $8.3 million in the first nine months of 2016. At the end of September, there were 118 properties of all types available for sale through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® assisted in the sale of 90 properties worth $17.1 million in the first nine months of the year compared with 92 properties worth $18 million in the same time last year. Half of the 40 single family homes sold so far this year, sold for less than $225,000 and these homes took, on average, 125 days to sell. Also changing hands were 21 parcels of vacant land and 16 homes on acreage.  At the end of September, there were 128 properties of all types available through MLS® in the Vanderhoof area.

Fort St. James: 44 properties worth $7.5 million were reported sold to the end of September, compared to 54 properties worth $10.8 million in the same period last year. As of September 30th, there were 85 properties of all types available for purchase through MLS® in the Fort St. James area.

Northern Region:

Fort St. John: As of September 30th, 365 properties worth $144.9 million were reported sold in the area, compared to 303 properties worth $114.5 million to September 30th of 2016. Half of the 177 single family homes sold so far this year, sold for less than $378,000; these homes took, on average, 85 days to sell. In addition, 21 parcels of vacant land, 37 half duplexes, 41 homes on acreage, 10 manufactured homes in parks and a further 34 manufactured homes on land, were reported sold. At the end of September, there were 799 properties of all types available for purchase through MLS® in the Fort St. John area.

Fort Nelson: 37 properties worth $5.9 million have sold in the first nine months of 2017, compared with 19 properties worth $3.1 million to the end of September 2016. Of the 20 single family homes sold so far, half sold for less than $152,500. On average these homes took 120 days to sell. Also changing hands were 3 homes on acreage, 2 manufactured homes in parks and 7 manufactured homes on land. As of September 30th, there were 152 properties of all types available for purchase through MLS® in the Fort Nelson area.

Fraser Fort George Region:

Mackenzie: In the first nine months of 2017, 55 properties worth $8.8 million were reported sold through MLS® in the Mackenzie area, compared with 64 properties worth $11 million to September 30th, 2016. Half of the 41 single family homes sold so far this year, sold for less than $172,000 and these homes took, on average, 143 days to sell. At the end of September, there were 101 properties of all types available for purchase through MLS® in the Mackenzie area.

Prince George: In the City of Prince George, to the end of September 1238 properties worth $358.5 million changed hands, compared with 1158 properties worth $320.6 million to September 30th, 2016. In the western part of the City the median price of the 229 homes sold this year, was $282,000. In the area east of the By-pass, the 168 single family homes that sold had a median price of $230,000. In the northern part of the City, the 181 single family homes sold had a median price of $322,000. In the southwest section of the city, the median price of the 216 single family homes sold was $387,500. At the end of September, there were 624 properties of all types available for purchase through MLS® in the City of Prince George.

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities by supporting the growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)
MLS® Reported Sales – Residential Detached House
BC NORTHERN REAL ESTATE BOARD

Community

September 2015

Units

September 2016

Units

September 2017

Units

100 Mile House

226,131

88

254,196

141

297,035

121

Williams Lake

241,715

109

261,925

120

261,647

142

Quesnel

216,339

101

209,255

109

205,795

112

Prince Rupert

248,865

126

268,288

135

284,839

130

Houston

153,792

26

157,078

19

178,359

22

Smithers

270,602

88

249,153

87

271,678

100

Burns Lake

139,101

35

126,961

25

153,292

35

Vanderhoof

211,250

33

200,962

27

210,641

40

Fort St. James

164,764

18

191,633

18

195,575

20

Fort St. John

428,904

220

413,089

136

394,882

177

Fort Nelson

301,164

14

202,516

6

158,020

20

Mackenzie

165,092

38

173,200

47

174,963

41

Prince George

282,986

767

297,436

741

317,885

805

Terrace

308,266

131

317,318

111

312,112

107

Kitimat

303,510

57

280,296

56

227,750

60

 

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

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For more information about local conditions, contact:

John Evans, President (Terrace/Prince Rupert)                         250-638-7001
Court Smith, Vice-President (Williams Lake)                             250-392-5959
William Lacy, Past President (Quesnel)                                     250-992-7202
Bob Quinlan, Director (Prince George)                                       250-562-2121
Leah Mayer, Director (Prince George)                                        250-564-4488
Shawna Kinsley, Director (Prince George)                                 250-564-4488
Sandra Hinchliffe, Director (Smithers)                                        250-847-5999
Wynnette Lowes, Director (Fort St. John)                                  250-787-2100
Mike Austin, Public Director (Williams Lake)                              250-267-2211

News Release - July 7, 2017

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The BC Northern Real Estate Board (BCNREB) reports 2583 properties sold through the Multiple Listing Service® (MLS®) in the first six months of 2017, up from the 2389 sales reported in the first half of 2016. The value of these properties was $693.5 million compared with $611 million in 2016. At the end of June there were 4394 properties of all types available for purchase through the MLS® of BCNREB, down from 4689 at the same time last year.

BCNREB President John Evans comments: “The second quarter of 2017 continued to show strong sales in many regions. June was a particularly strong month in sales; being the fourth highest June on record and the best June for sales in the last ten years.  Some of the sales increases year-over-year are shown in the southern parts of the Board’s area, including 100 Mile House and Williams Lake.  However, the news across the entire board area was not all positive.  Communities dependent on oil, gas, or potential LNG projects continue to show sales numbers below previous years, though there has been some slight improvement for a few communities. 

In the Northern Region of the Board, sales activity in Fort St John is up over last year, and the number of active listings is down, showing a stabilization in that area.  Continued employment with the Site C Dam, coupled with recent hiring on a few other local smaller projects, has helped the market.  Fort Nelson has also shown improvement in sales numbers and dollar value, though the numbers are still below historical averages.  

In the West, Prince Rupert sales and sales-dollar volume have increased slightly. The continued growth of the Port of Prince Rupert coupled with the AltaGas propane terminal construction have been a contributing factor.  The AltaGas terminal is expected to provide more employment in the area and this is good news for Prince Rupert. Kitimat’s sales, listings, and average sale price are lower year-over-year, and sales activity numbers are well off the bustling market of just a few years ago.  LNG Speculation has cooled and the market is reacting accordingly.  Sales and number of listings in Terrace have dropped only slightly this year compared to last year showing a steady and stable market; while in Smithers, both sales and number of listings have risen.  The Smithers market has benefited from the Red Chris and Brucejack mines, which have been providing employment in the area, mitigating the loss of the Huckleberry mine.

In the South, Williams Lake showed increases in sales activity and average sale price of a single-family home. 100 Mile House continues to be one of the Board’s busiest markets, with an increase in sales activity of 12% year-over-year. The numbers from this region alone have impacted the overall positive increases across the entire board area.

The markets in Prince George picked up in the spring and have continued to be active, with an increase in both sales activity and average sale price.  Inventory remains limited in the $200,000 to $375,000 price range, which is favoured by new home buyers.  Anecdotally, there has been an increase of both local and lower mainland buyers interested in investment properties capable of producing steady income, such as duplexes. As rental rates rise, interest is piqued from out-of-area investors, adding an increase in demand for these types of properties.”

By Region:

Cariboo Region:

100 Mile House: 312 properties worth $70.5 million have changed hands through the MLS® in the area since January 1st. This compares with 278 properties worth $62 million in the same period in 2016. Half of the 87 homes that sold so far this year, sold for $265,000 or less and, on average, it took 61 days for these homes to sell. Also reported sold were 110 parcels of vacant land, 77 homes on acreage, 3 manufactured home in park, 13 on land, and 14 recreational properties. At the end of June there were 574 properties of all types available for purchase through the MLS® in the 100 Mile House area.

Williams Lake: 258 properties have sold so far this year, compared to 216 properties by June 30, 2016. The value of these properties is $62.5 million ($47 million in 2016). Of the 113 single family homes sold this year, half sold for less than $236,000 and these homes took, on average, 84 days to sell. In addition, 13 parcels of vacant land, 13 townhouses, 58 homes on acreage, 22 manufactured homes in parks and 20 manufactured homes on land changed hands in the first six months of 2017. At the end of June there were 378 properties of all types available for purchase through the MLS® in the Williams Lake area.

Quesnel: In the Quesnel area, REALTORS® reported 171 sales worth $33.7 million so far this year, compared to 158 sales worth $29 million in the first six months of 2016. Of the 77 single family homes sold between January and June, half sold for less than $175,000; these homes took, on average, 65 days to sell. In addition, 14 parcels of vacant land, 48 homes on acreage, 8 manufactured homes in parks and 15 manufactured homes on land have sold in the first six months of 2017. As of June 30th, there were 236 properties of all types available for purchase through the MLS® in the Quesnel area.

Northwest Region:

Prince Rupert: 120 properties worth $31.6 million have been reported sold through the MLS® in the Prince Rupert area so far, this year, compared to 101 properties worth $28.5 million in the first half of 2016. The median price of the 89 single family homes that sold was $277,000. On average, it took these homes 96 days to sell. As of June 30th, there were 191 properties of all types available for purchase through the MLS® in the area.

Terrace: REALTORS® in the Terrace area sold 118 properties worth $31.4 million in the first six months of 2017, compared to 134 properties worth $39 million in the same period last year. Half of the 72 single family homes that sold, sold for less than $307,500. On average, it took these homes 69 days to sell. In addition, 9 parcels of vacant land, 3 half duplexes, and 11 homes on acreage changed hands in the first 6 months of the year. At the end of June there were 242 properties of all types available for purchase through the MLS® in the Terrace area.

Kitimat: 29 properties worth $6.7 million have sold through the MLS® in the Kitimat area in the first six months of 2017, compared to 47 properties worth $14 million at this time last year. Half of the 24 single family homes sold so far this year, sold for less than $227,600 and, on average it took these homes 129 days to sell. At the end of June there were 104 properties of all types available for purchase through the MLS® in the Kitimat area.

Bulkley Nechako Region:

Houston: 24 properties worth $4.5 million have changed hands so far this year, compared to 33 properties worth $5 million in 2016. As of June 30th, there were 66 properties of all types available through the MLS® in the Houston area.

Smithers: REALTORS® in the Smithers area reported 149 sales with a value of $38 million in the first six months of 2017, compared to 126 sales worth $27 million at this time last year. Half of the 68 single family homes sold so far this year, sold for less than $272,500 and took, on average, 51 days to sell. 17 parcels of vacant land and 34 homes on acreage also changed hands since January 1st. As of June 30th, there were 205 properties of all types available through MLS® in the Smithers area.

Burns Lake: In the first six months of 2017, 40 properties worth $6.5 million were reported sold through the MLS® in the Burns Lake area, compared to 34 properties worth $3.7 million in the same time period last year. At the end of June there were 127 properties of all types available for purchase through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® in the Vanderhoof area reported 60 sales worth $11 million in the first six months of the year, compared to 49 sales worth $9.5 million to June 30, 2016. As of June 30th, there were 147 properties of all types available for purchase through the MLS® in the Vanderhoof area.

Fort St. James: 29 properties worth $5 million have sold through the MLS® in the Fort St. James area so far this year, compared with 33 properties worth $7.2 million in the first six months of 2016. At the end of June there were 81 properties of all types available for purchase through the MLS® in the Fort St. James area.

Northern Region:

Fort St. John: REALTORS® assisted in the sale of 245 properties worth $100.8 million in the first half of 2017, compared to 191 properties worth $72.7 million in the first six months of 2016. The 114 single family homes which sold so far this year had a median selling price of $379,000 and it took, on average, 84 days for these homes to sell. In addition, 17 parcels of vacant land, 26 half duplexes, 29 homes on acreage, 5 manufactured homes in parks and 24 manufactured homes on land changed hands so far this year. As of June 30th, there were 820 properties of all types available for purchase through the MLS® in the Fort St. John area.

Fort Nelson: 25 properties worth $4.6 million have sold since January 1st, compared to 12 properties worth $2.5 million in the same period last year. Half of the 13 single family homes sold since January, sold for less than $120,000. These homes took, on average, 115 days to sell. At the end of June, there were 154 properties of all types available for purchase through the MLS® in the Fort Nelson area.

Fraser Fort George Region:

Mackenzie: In the first six months of 2017, 33 properties worth $5.2 million were reported sold through the MLS® in the Mackenzie area, compared to 42 properties worth $7.7 million to June 30th, 2016. Half of the 26 single family homes sold so far this year, sold for less than $160,000 and took, on average, 164 days to sell. As of June 30th, there were 104 properties of all types available for purchase through the MLS® in the Mackenzie area.

Prince George: In the City of Prince George, 817 properties worth $234.9 million have changed hands so far this year, compared with 754 properties worth $211 million in the first six months of last year. In the western part of the City, the median price of the 141 single family homes that have sold through MLS® was $279,900. In the area east of the Bypass, the 100 single family homes that sold had a median price of $225,000. In the northern part of the City 124 single family homes sold with a median price of $315,000. The 143 single family homes that sold in the southwest section of the City had a median sale price of $392,000. At the end of June there were 632 properties of all types available for purchase through the MLS® in the City of Prince George.

The 370 REALTOR® members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports growth that encourages economic vitality, provides housing opportunities, respects the environment, protects property owners and builds communities with good schools and safe neighbourhoods. The 370 REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)

MLSÒ Reported Sales – Residential Detached House

BC NORTHERN REAL ESTATE BOARD

Community

June 30, 2015

Units

June 30, 2016

Units

June 30, 2017

Units

100 Mile House

227,997

49

252,137

76

288,455

87

Williams Lake

238,306

75

251,715

70

267,837

113

Quesnel

223,112

56

212,301

67

193,973

77

Prince Rupert

241,503

80

285,055

81

281,766

89

Houston

152,717

20

154,781

16

155,857

14

Smithers

271,206

63

232,379

51

270,807

68

Burns Lake

110,949

19

120,702

15

127,701

16

Vanderhoof

204,702

26

204,900

10

209,110

24

Fort St. James

161,318

11

207,338

13

192,800

15

Fort St. John

422,277

139

405,421

82

405,044

114

Fort Nelson

316,390

10

225,900

4

163,384

13

Mackenzie

166,057

26

181,351

31

167,838

26

Prince George

282,254

486

300,903

484

317,856

515

Terrace

302,162

80

324,478

74

311,850

72

Kitimat

301,336

25

318,754

33

241,846

24

 
Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

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For more information about local conditions, contact:         

John Evans, President (Terrace/Prince Rupert)                      250-638-7001
Court Smith, Vice-President (Williams Lake)                          250-392-5959
William Lacy, Past President (Quesnel)                                  250-992-7202
Bob Quinlan, Director (Prince George)                                    250-562-2121
Leah Mayer, Director (Prince George)                                     250-564-4488
Shawna Kinsley, Director (Prince George)                              250-564-4488
Sandra Hinchliffe, Director (Smithers)                                     250-847-5999
Wynnette Lowes, Director (Fort St. John)                               250-785-2100
Mike Austin, Public Director (Williams Lake)                           250-267-2211

News Release - April 6, 2017

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News Release

The BC Northern Real Estate Board (BCNREB) reported 934 sales with a value of $250,679,200 through the Multiple Listing Service® (MLS®) in the first quarter of 2017. This compares with 859 sales worth $217,647,633 to the end of March 2016. As of March 31st, there were 3591 properties of all types available for purchase through the MLS® compared to 3973 at this time last year.

President John Evans comments, “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.  The economies of many BC 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 west, Prince Rupert sales have increased slightly with the sales-dollar volume relatively the same as last year.  LNG Canada’s decision to focus their project in Kitimat does not appear to have affected the Prince Rupert market. Kitimat continues to fall slightly on most measures, including the number of sales, listings and average sale price; however, caution must be exercised given the small market and limited data. Sales in Terrace have dropped slightly this year compared to last year.

In the north, Fort St. John has seen an increase in sales activity. The increase is likely due to continued work on the Site “C” Dam, as well as recent hiring for drilling projects in the area. Fort Nelson has seen slightly more listings and sales than the year prior, though overall the market is slow.

In the south, Quesnel sales have increased slightly, though inventory is very low. The Quesnel market is usually seasonal, and activity is expected to pick up in the summer. In Williams Lake, both the sales activity and average sale price of a single-family home have increased slightly. 100 Mile House continues to be one of the Board’s busiest markets, with the largest increase in sales activity.

Lastly, in Prince George there has been a gradual increase in sales activity since the end of 2016. The inventory is low and has moved to a sellers’ market.”

(2016 values appear in brackets)

Cariboo Region

100 Mile House and area: A total of 95 (71) properties of all types worth $20.3 million ($14.6 million) have been sold by REALTORS® in the area since the beginning of the year. In the first three months of 2017, 25 single-family homes, 35 parcels of vacant land and 23 homes on acreage changed hands. At the end of the quarter there were 445 (578) properties available for purchase through the MLS®.

Williams Lake: 82 (75) properties have sold so far this year through MLS® in the Williams Lake area. The value of these properties was $ 17.4 million ($14.2). In addition to the 39 single-family homes sold, 14 homes on acreage, 8 manufactured homes in parks and 7 manufactured homes on land have changed hands in the first quarter.  As of March 31st there were 299 (319) properties listed on the MLS® in the Williams Lake area.

Quesnel: In the Quesnel area REALTORS® reported 60 (50) sales worth $11.9 million ($8.7 million) in the first three months of 2017. In addition to the 26 single-family homes that sold, 5 parcels of vacant land and 15 homes on acreage have sold this year. There were 195 (239) properties of all types available for purchase through MLS® in the Quesnel area as of March 31st.

Northwest Region

Prince Rupert: 58 (47) properties worth $14.8 million ($14.7 million) have sold through the MLS® so far this year. Of those 58 properties sold, 40 were single-family residential properties and 5 were parcels of vacant land. As of March 31st, there were 170 (157) properties of all types available for purchase through the MLS® in the Prince Rupert area.

Terrace: REALTORS® in the Terrace area sold 44 (51) properties in the first quarter of 2017. The value of these properties was $11.5 million ($15 million). 21 single-family homes and 6 manufactured homes in parks have changed hands since January 1st.  As of March 31st, there were 212 (208) properties of all types available for sale in the Terrace area.

Kitimat: In the first quarter of 2017, 14 (20) properties worth $3 million ($5.5 million) have been reported sold. Of those 14 properties, 10 were single-family homes, 1 was a half-duplex and 3 were townhouses. At the end of March there were 102 (110) properties of all types available for sale through MLS® in the Kitimat area.

Bulkley Nechako Region

Smithers: REALTORS® in the Smithers area reported 56 (44) sales with a value of $13.9 million ($9.4 million) to March 31st, 2017. In addition to the 22 single-family homes that sold, 8 parcels of vacant land, 10 homes on acreage and 5 manufactured homes in parks changed hands this year. At the end of the first quarter there were 185 (221) properties of all types available for purchase through the MLS® in the Smithers area.

Burns Lake: 17 (16) properties worth $2.3 million ($1.4 million) have changed hands since January 1st. At the end of March there were 107 (102) properties of all types available for sale through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® in the Vanderhoof area reported 22 (13) sales worth $3.6 million ($2.4 million) in the first quarter of 2017. At the end of March there were 101 (116) properties available for purchase through the MLS® in the Vanderhoof area.

Fort St. James: In the first quarter of 2017 there were 15 (13) sales worth $2.9 million ($2.7 million) in the Fort St. James area. As of March 31st there were 64 (67) properties available on the MLS® in the area.

Northern Region

Fort St. John: In the Fort St. John area, 93 (74) properties worth $38.6 million ($30 million) changed hands in the first quarter of 2017. In addition to the 41 single-family homes sold, 4 parcels of vacant land, 9 half-duplexes, 13 homes on acreage, 2 manufactured homes in parks and 13 manufactured homes on land have sold since January 1st. At the end of March there were 695 (689) properties of all types available for purchase through the MLS® in the Fort St. John region.

Fort Nelson: 13 (7) properties worth $1.8 million ($1.6 million) were reported sold through the MLS® since the beginning of the year. At the end of March there were 116 (117) properties available for purchase through the MLS® in the Fort Nelson area.

Fraser Fort George Region

Mackenzie: Since January 1st 15 (14) properties worth $2.4 million ($2.6 million) have changed hands. As of March 31st, there were 65 (75) properties available for purchase through the MLS® in the Mackenzie area.                                       

City of Prince George:  298 (281) properties of all types, worth $90.8 million ($76.3 million), have changed hands in the first 3 months of 2017 in the City of Prince George. In the west part of the City the median price of the 53 single-family homes that have sold on MLS® was $265,000 ($260,000).  In the area east of the By-pass, the 32 single-family homes that sold had a median value of $212,000 ($215,000). In the northern part of the city, commonly referred to as “the Hart”, 50 single-family homes sold with a median price of $289,900 ($289,000).  In the southwestern section of the city, 49 homes have sold since January with a median price of $399,000 ($312,000). At the end of March there were 547 (600) properties of all types available on the MLS® within the city limits.

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)

MLSÒ Reported Sales – Residential Detached House

BC NORTHERN REAL ESTATE BOARD

Community

March 31 2015

Units

March 31 2016

Units

March 31 2017

Units

100 Mile House

176,333

15

212,357

26

284,240

25

Williams Lake

219,622

25

235,488

26

243,962

39

Quesnel

218,923

13

185,450

26

189,025

26

Prince Rupert

238,407

28

293,181

37

271,873

 40

Smithers

278,480

22

248,968

16

281,095

22

Fort St. John

416,527

59

401,538

23

410,623

41

Mackenzie

166,833

12

178,067

12

159,818

11

Prince George

275,914

167

293,577

185

309,028

186

Terrace

284,564

31

301,589

29

310,423

21

Kitimat

305,885

14

354,961

13

225,417

10

Note: Any area with fewer than 10 residential-detached house sales in the past 3 years has been omitted from this chart.

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

-30-

For more information about local conditions, contact:    

John Evans, President (Terrace/Prince Rupert)                         250-638-7001
Court Smith, Vice-President (Williams Lake)                             250-392-5959
William Lacy, Past President (Quesnel)                                     250-992-7202
Bob Quinlan, Director (Prince George)                                       250-562-2121
Leah Mayer, Director (Prince George)                                        250-564-4488
Shawna Kinsley, Director (Prince George)                                 250-564-4488
Sandra Hinchliffe, Director (Smithers)                                        250-847-5999
Wynnette Lowes, Director (Fort St. John)                                  250-785-2100
Mike Austin, Non-REALTOR® Director (Williams Lake)             250-267-2211

News Release - January 6, 2017

Download PDF

News Release

The REALTOR® members of the BC Northern Real Estate Board (BCNREB) reported 4737 property sales worth $1.2 billion in 2016 through the Multiple Listing Service® (MLS®), down from last year’s 4840 sales worth $1.2 billion.

President William Lacy comments “2016 was a mixture of really positive with some not so positive. The northern areas of BCNREB were hit with the decline in demand for resources, which affects the real estate market directly. With activity picking back and a rebound in resource demand underway; 2017 looks like it will be a positive year in comparison to 2016.

The North West of the province had a steady year. The fourth quarter showed signs of a decrease in activity when compared to last year's fourth quarter, but the year-end numbers showed a steady year. It is good to see that the “boom and bust” cycles have seemed to have turned into a “boom and hold steady” pattern.

Prince George had a solid year as expected. The diversification of the city’s economic drivers and the size of the city are seeing it grow into quite the center of activity, which will insulate it from any of the economic variables that may occur in the years to come.

The Southern parts of BCNREB were the shining stars this year with Quesnel, Williams Lake and 100 Mile House posting double digit gains in activity and sales volume, and with 100 Mile House hitting a fantastic greater than 60% increase in activity.

Overall, in 2017, the outlook for the North looks positive. It is an amazing place to call home, and the affordability makes BCNREB areas very attractive to residents. We expect positive things out of 2017, and lets all have a fantastic 2017!”

By Region

Cariboo Region

In the 100 Mile House area 630 properties worth $140.3 million sold this year through MLS®, compared with 384 properties worth $88.3 million in 2015. The 178 single family homes that sold in 2016 had a median value (half sold for less) of $230,000. In addition, 151 parcels of vacant land, 181 homes on acreage, 48 manufactured homes on land, 12 manufactured homes in a park, and 39 recreational properties changed hands in 2016. At the end of December, there were 363 properties of all types available for sale through MLS® in the 100 Mile House area, down from the 465 properties at the end of 2015.

In Williams Lake, 441 sales worth $100.1 million were reported through MLS® in 2016, up from 359 sales worth $76.3 million the previous year. Half of the 159 single family homes sold in 2016 sold for less than $245,000. 40 parcels of vacant land, 116 homes on acreage, 17 townhomes, 36 manufactured homes in parks and 41 manufactured homes on land were also sold in 2016. At the end of December there were 264 properties of all types available through MLS® in the Williams Lake area, down from 286 properties at the same time last year.

311 properties changed hands in the Quesnel area in 2016 through MLS®, up from 273 that were sold in 2015. The value of these properties was $59.9 million ($50.4 million in 2015). The median value of the 131 single family homes sold in 2016 was $193,000. In addition, 42 parcels of vacant land, 76 homes on acreage, 21 manufactured homes in parks and a further 27 on land were reported sold in 2016. At year end, there were 156 properties of all types available for purchase through MLS® in the Quesnel area, down from 181 properties at the end of 2015.

Northwest Region

In Prince Rupert 198 properties worth $51.3 million changed hands in 2016 compared with 209 properties worth $51.4 million in 2015. Half of the 157 single family homes sold in 2016 sold for less than $256,000. In addition, 14 parcels of vacant land, 1 townhouse and 8 half duplexes sold in 2016. At year end, there were 150 properties of all types available through MLS® in the Prince Rupert area, down from the same time last year.

The 239 properties that sold in the Terrace area in 2016 were worth $67.3 million compared with 2015’s 271 properties worth $70 million. Of the 139 single family homes that changed hands, half sold for less than $300,000. In addition, 10 parcels of vacant land, 26 homes on acreage, 16 manufactured homes in parks and a further 13 on land sold in 2016. As of December 31st, there were 161 properties of all types available through MLS® in the Terrace area, up from the 151 properties available at December 31st, 2015.

In the Kitimat area, 91 properties worth $23.1 million changed hands in 2016 compared to the 120 properties worth $$33 million that sold in 2015. The median value of the 60 single family homes sold in 2016 was $253,900. In addition, 11 half duplexes and 8 townhomes were sold. At year end, there were 112 properties of all types available in the Kitimat area, compared with 63 at December 31st, 2015.

Bulkley Nechako Region

50 properties worth $7.1 million changed hands in the Houston area in 2016, compared to the 60 properties worth $9.9 million that sold in 2015. The median value of the 23 single family homes sold was $135,000. As of December 31st, there were 43 properties of all types available in the Houston area.

REALTORS® reported 251 sales worth $56.9 million in the Smithers area in 2016, compared to 252 sales worth $65.9 million in 2015. The median value of the 103 single family homes that sold in 2016, was $250,000. 29 parcels of vacant land, 57 homes on acreage, 23 manufactured homes in parks and a further 13 on land also changed hands in 2016. At year end, there were 179 properties of all types available in the Smithers area, compared with 211 at December 31st, 2015.

In Burns Lake 73 properties with a value of $9.8 million sold in 2016 compared with 105 worth $12.7 million in 2015. Half of the 29 single family homes that sold, sold for less than $104,034. 16 parcels of vacant land, 17 homes on acreage and 5 manufactured homes on land also changed hands in 2016. As of December 31st, there were 108 properties of all types available through MLS® in the Burns Lake area, down from 114 at the end of 2015.

The 108 properties sold in Vanderhoof in 2016 were worth $21 million, compared with 2015’s 120 properties worth $22.2 million. Of the 32 single family homes that sold in 2016, half sold for less than $185,000. In addition, 22 parcels of vacant land, 25 homes on acreage, 5 manufactured homes in parks and a further 9 manufactured homes on land changed hands in 2016. As of December 31st, there were 90 properties of all types available through MLS® in the Vanderhoof area, compared with 103 properties a year ago.

In Fort St. James 60 properties worth $11.6 million sold in 2016, compared to 53 properties worth $11.8 million in 2015. At year end, there were 61 properties of all types available through MLS® in the Fort St. James area, compared to 58 at the same time last year.

Northern Region

In Fort St. John 397 properties with a value of $161.5 million sold in 2016, down from 691 properties worth $253.6 million that sold in 2015. Of the 180 single family homes sold in 2016, half sold for less than $382,000. In addition, 28 parcels of vacant land, 53 half duplexes, 37 homes on acreage, 17 manufactured homes in parks and a further 40 on land sold in 2016. At the end of December there were 642 properties of all types available through MLS® in the Fort St. John area, up from the 479 properties at the end of 2015.

The 28 properties sold in the Fort Nelson area through MLS® in 2016 were worth $5.8 million, down from 2015’s 41 properties worth $9.6 million. Half of the 8 single family homes sold in 2016, sold for less than $227,000. There were 3 homes on acreage and 2 townhomes also sold in 2016. As of December 31st, there were 145 properties of all types available through MLS® in the Fort Nelson area, up from the 117 properties on December 31st, 2015.

Fraser Fort George Region

In the Mackenzie area 75 properties worth $13 million were reported sold in 2016, compared with 2015’s 67 properties worth $11 million. The median value of the 55 single family homes that sold in 2016 was $171,000. At year end, there were 81 properties of all types available through MLS® in the Mackenzie area, up from the 72 properties at the same time in 2015.

In the City of Prince George, 1424 properties worth $400.6 million sold in 2016, compared with 1442 properties worth $377 million in 2015. At year end, there were 487 properties of all types available through MLS® compared to 481 properties at the end of 2015.

In the area west of the by-pass, half of the 270 single family homes sold in 2016, sold for less than $270,000. As well, 20 apartment units and 52 townhomes changed hands in 2016. As of December 31st, there were 36 single family homes available through MLS® in this area of the City, compared to 30 at the same time last year.

East of the by-pass 12 apartment units, 40 half duplexes, and 27 townhomes sold in 2016. The 182 single family homes sold had a median value of $215,000. At the end of December there were 22 single family homes available for sale through MLS® in this area compared with 27 at the end of 2015.

In the northern part of the city, 29 homes on acreage, 22 manufactured homes in parks and a further 49 manufactured homes on land sold in 2016. Of the 187 single family homes sold, half sold for less than $294,000. As of December 31st, there were 43 single family homes available through MLS® in this area of the City compared with 31 at the end of 2015.

In the southwest sector 13 half duplexes, 29 townhomes, 16 homes on acreage, 14 manufactured homes in parks and a further 4 manufactured homes on land sold in 2016. Half of the 251 single family homes sold in 2016 sold for less than $352,000. At year end, there were 57 single family homes available for sale through MLS® in the southwest sector, no change from the 57 at the end of 2015.

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports the growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)

MLS® Reported Sales – Single Family Residential

BC Northern Real Estate Board

Community

December 31, 2014

Units

December 31, 2015

Units

December 31, 2016

Units

100 Mile House

243,605

119

226,984

114

250,312

178

Williams Lake

253,773

138

237,103

134

263,483

159

Quesnel

212,152

123

213,704

121

209,312

131

Prince Rupert

217,651

212

260,604

158

264,745

157

Houston

157,063

44

157,487

32

156,095

23

Smithers

247,458

106

273,241

113

248,386

103

Burns Lake

117,815

35

133,756

45

127,759

29

Vanderhoof

204,255

52

211,179

44

186,750

32

Fort St. James

192,276

21

171,139

27

191,768

22

Fort St. John

418,646

422

425,083

266

405,203

180

Fort Nelson

302,961

27

280,278

19

229,387

8

Mackenzie

164,662

61

169,321

47

176,871

55

Prince George

271,580

950

284,611

976

297,185

905

Terrace

302,340

177

308,436

153

309,915

139

Kitimat

318,046

78

298,624

82

279,385

60

 

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

-30-

For more information about local conditions, contact:    

William Lacy, President (Quesnel)                                            250-992-7202
John Evans, Vice-President (Terrace/Prince Rupert)               250-638-7001
David Black, Past President (Prince George)                           250-564-4488
Bob Quinlan, Director (Prince George)                                      250-562-2121
Leah Mayer, Director (Prince George)                                       250-564-4488
Shawna Kinsley, Director (Prince George)                                 250-564-4488
Court Smith, Director (Williams Lake)                                        250-392-5959
DJ Mio, Director (Smithers)                                                        250-877-3677
Roland Cataford, Director (Fort St. John)                                   250-261-0001
Mike Austin, Non-REALTOR® Director (Williams Lake)            250-267-2211

News Release - October 7, 2016

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News Release

The BC Northern Real Estate Board reports 3834 properties worth $973.2 million sold through the Multiple Listing Service® (MLS®) in the first nine months of 2016. At this time last year, 3833 properties worth $979.3 million had changed hands. As of September 30th there were 4519 properties of all types available for sale through the MLS®, down slightly from 4575 properties at the end of September last year.

BCNREB Past President David Black comments: “While most communities in the BC Northern Board area are fairly stable and in line with sales from 2015, there are some communities experiencing significant changes year over year. The markets tied closely to the oil and gas developments, such as Fort St John and Fort Nelson, are still seeing significantly lower sales volume; while in 100 Mile House current year sales are almost double the year-to-date total for 2015.

Prince George is having a good year with a stable economy and the positive outlook on growth from the Conference Board of Canada. Sales volumes are virtually the same as 2015 while prices have increased.”

By Region:

Cariboo

100 Mile House: So far this year 500 properties worth 110.5 million have changed hands, compared to 289 properties worth $68.4 million to the end of September in 2015.  Half of the 141 single family homes that have sold, sold for less than $235,000 and took, on average, 106 days to sell. In addition, 122 parcels of vacant land, 144 homes on acreage, 7 manufactured homes in parks and a further 41 manufactured homes on land, as well as 31 recreational properties have sold this year. As of September 30th there were 637 properties of all types available for purchase through the MLS® in the 100 Mile House area.

Williams Lake: 346 properties worth $80.2 million have sold in the first nine months, compared to 293 properties worth $62 million in the same period last year. Of the 120 single family homes sold to the end of September, half sold for less than $245,000 and these homes took, on average, 58 days to sell. In addition, 29 parcels of vacant land, 16 townhomes, 100 homes on acreage, and 24 manufactured homes in parks and a further 31 on land, have sold this year. At the end of September there were 384 properties of all types available for purchase through MLS® in the Williams Lake area.

Quesnel: To the end of September 255 properties worth $48.5 million sold through MLS® compared to 224 properties worth $43 million to the end of the third quarter of 2015. Half of the 109 single family homes sold so far this year, sold for less than $193,000 and took, on average, 77 days to sell. Also changing hands this year were 36 parcels of vacant land, 58 homes on acreage, 16 manufactured homes in parks and 23 manufactured homes on land. At the end of September there were 234 properties of all types available for purchase through the MLS® in the Quesnel area.

Northwest

Prince Rupert: 164 properties worth $43.9 million changed hands so far this year in the Prince Rupert area, compared with 168 properties worth $39.7 million to the end of September 2015. Of the 135 single family homes that have changed hands this year, half sold for less than $256,000 and on average, took 82 days to sell. As of September 30th there were 178 properties of all types available through the MLS® in the Prince Rupert area.

Terrace: In the first nine months of the year, 197 properties worth $56.2 million were reported sold in the Terrace area, compared to 225 properties worth $57.6 million during the same period last year. Half of the 111 single family homes that have sold so far this year, sold for less than $309,000 and these homes took, on average, 69 days to sell. Also changing hands were 10 parcels of vacant land, 21 homes on acreage, 13 manufactured homes in parks and 11 manufactured homes on land. At the end of September there were 243 properties of all types available through the MLS® in the Terrace area.

Kitimat: 78 properties worth $20.1 million have changed hands in the first nine months of 2016, compared to 89 properties worth $24.4 million to September 30th of 2015. Of the 56 single family homes sold so far this year, half sold for less than $253,900. These homes took, on average 80 days to sell.  In addition, 1 parcel of vacant land, 8 half duplexes and 5 townhomes were also sold this year. At the end of September there were 128 properties of all types available through the MLS® in the Kitimat area.

Bulkley Nechako

Houston: To the end of September, 44 properties worth $6.2 million sold in the Houston area, compared with 48 properties worth $7.7 million in the same period last year. At the end of September there were 64 properties of all types available for purchase through MLS® in the Houston area.

Smithers: As of September 30th, 203 properties worth $46.6 million changed hands in the Smithers area, compared with 191 properties worth $49.5 million in the first nine months of 2015. Half of the 87 single family homes sold so far this year, sold for less than $250,000 and these homes took, on average, 72 days to sell. Also changing hands this year were 24 parcels of vacant land, 47 homes on acreage, 17 manufactured homes in parks and 11 manufactured homes on land. As of September 30th, there were 225 properties of all types available through the MLS® in the Smithers area.

Burns Lake: So far this year 59 properties worth $8.3 million have been reported sold through MLS® compared to 81 properties worth $9.6 million in the first nine months of 2015. At the end of September there were 127 properties of all types available for sale through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® assisted in the sale of 92 properties worth $18 million in the first nine months of the year compared with 88 properties worth $16.2 million in the same time last year.  Half of the 27 single family homes sold so far this year, sold for less than $206,500 and these homes took, on average, 55 days to sell. Also changing hands were 16 parcels of vacant land and 22 homes on acreage.  At the end of September there were 124 properties of all types available through MLS® in the Vanderhoof area.

Fort St. James: 54 properties worth $10.8 million were reported sold to the end of September, compared to 40 properties worth $8.5 million in the same period last year. As of September 30th there were 75 properties of all types available for purchase through MLS® in the Fort St. James area.

North

Fort St. John: As of September 30th 303 properties worth $114.5 million were reported sold in the area, compared to 578 properties worth $210.1 million to September 30th of 2015. Half of the 136 single family homes sold so far this year, sold for less than $390,000; these homes took, on average, 79 days to sell. In addition, 22 parcels of vacant land, 40 half duplexes, 27 homes on acreage, 15 manufactured homes in parks and a further 33 manufactured homes on land, were reported sold. At the end of September there were 816 properties of all types available for purchase through MLS® in the Fort St. John area.

Fort Nelson: 19 properties worth $3.1 million have sold in the first nine months of 2016, compared with 29 properties worth $6.7 million to the end of September 2015. Of the 6 single family homes sold so far, half sold for less than $227,000. On average these homes took 107 days to sell. Also changing hands were 1 home on acreage, 3 manufactured homes in parks and 4 manufactured homes on land. As of September 30th there were 157 properties of all types available for purchase through MLS® in the Fort Nelson area.

Fraser Fort George

Mackenzie: In the first nine months of 2016, 64 properties worth $11 million were reported sold through MLS® in the Mackenzie area, compared with 57 properties worth $9.3 million to September 30th, 2015. Half of the 47 single family homes sold so far this year, sold for less than $162,000 and these homes took, on average, 120 days to sell. At the end of September there were 97 properties of all types available for purchase through MLS® in the Mackenzie area.

Prince George: In the City of Prince George, to the end of September, 1158 properties worth $320.6 million changed hands, compared with 1127 properties worth $291.7 million to September 30th, 2015.  In the western part of the City the median price of the 227 homes sold this year, was $270,000. In the area east of the By-pass, the 143 single family homes that sold had a median price of $219,000. In the northern part of the City, the 156 single family homes sold had a median price of $297,000. In the southwest section of the city, the median price of the 202 single family homes sold was $349,900. At the end of September, there were 686 properties of all types available for purchase through MLS® in the City of Prince George.

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities by supporting the growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)

MLSÒ Reported Sales – Residential Detached House

BC NORTHERN REAL ESTATE BOARD

Community

September 2014

Units

September 2015

Units

September 2016

Units

100 Mile House

247,946

93

226,131

88

254,196

141

Williams Lake

259,203

113

241,715

109

261,925

120

Quesnel

210,760

101

216,339

101

209,255

109

Prince Rupert

214,136

192

248,865

126

268,288

135

Houston

154,452

36

153,792

26

157,078

19

Smithers

247,271

83

270,602

88

249,153

87

Burns Lake

116,732

25

139,101

35

126,961

25

Vanderhoof

204,495

43

211,250

33

200,962

27

Fort St. James

181,694

17

164,764

18

191,633

18

Fort St. John

410,197

324

428,904

220

413,089

136

Fort Nelson

298,597

20

301,164

14

202,516

6

Mackenzie

159,877

46

165,092

38

173,200

47

Prince George

273,321

755

282,986

767

297,436

741

Terrace

307,507

136

308,266

131

317,318

111

Kitimat

318,270

67

303,510

57

280,296

56

 

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

-30-

William Lacy, President (Quesnel)                                              250-992-7202

  John Evans, Vice-President (Terrace/Prince Rupert)                 250-638-7001

David Black, Past President (Prince George)                             250-564-4488

Bob Quinlan, Director (Prince George)                                       250-562-2121

Leah Mayer, Director (Prince George)                                        250-564-4488

Shawna Kinsley, Director (Prince George)                                 250-562-3600

Court Smith, Director (Williams Lake)                                        250-392-5959

DJ Mio, Director (Smithers)                                                        250-877-3677

Roland Cataford, Director (Fort St. John)                                   250-261-0001

  Mike Austin, Non-REALTOR® Director (Williams Lake)            250-267-2211

 

News Release - July 6, 2016

Download PDF

News Release

The BC Northern Real Estate Board (BCNREB) reports 2389 properties sold through the Multiple Listing Service® (MLS®) in the first six months of 2016, up from the 2376 sales reported in the first half of 2015. The value of these properties was $611 million compared with $601 million in 2015. At the end of June there were 4689 properties of all types available for purchase through the MLS® of BCNREB, down from 4779 at the same time last year.

BCNREB President William Lacy comments: “With our mid-year numbers we are seeing some surprisingly bright spots throughout the Northern part of the Province. We still have some concerns, but many areas are up over last year, which bodes well for the North having a solid year overall. Ideally, we will get a couple of announcements in the later half of the year, and those markets that rely on the bigger economic projects will get the catalyst they need.”

By Region:

Cariboo Region:

100 Mile House: 278 properties worth $62 million have changed hands through the MLS® in the area since January 1st. This compares with 157 properties worth $36 million in the same period in 2015. Half of the 76 homes that sold so far this year, sold for $239,000 or less and, on average, it took 105 days for these homes to sell. Also reported sold were 68 parcels of vacant land, 81 homes on acreage, 4 manufactured home in park, 23 on land, and 18 recreational properties. At the end of June there were 699 properties of all types available for purchase through the MLS® in the 100 Mile House area.

Williams Lake: 216 properties have sold so far this year, compared to 185 properties by June 30, 2015. The value of these properties is $47 million ($41 million in 2015). Of the 70 single family homes sold this year, half sold for less than $240,000 and these homes took, on average, 60 days to sell. In addition, 20 parcels of vacant land, 8 townhouses, 63 homes on acreage, 17 manufactured homes in parks and 23 manufactured homes on land changed hands in the first six months of 2016. At the end of June there were 374 properties of all types available for purchase through the MLS® in the Williams Lake area.

Quesnel: In the Quesnel area, REALTORS® reported 158 sales worth $29 million so far this year, compared to 122 sales worth $23 million in the first six months of 2015. Of the 67 single family homes sold between January and June, half sold for less than $193,000; these homes took, on average, 81 days to sell. In addition, 21 parcels of vacant land, 34 homes on acreage, 12 manufactured homes in parks and 19 manufactured homes on land have sold in the first six months of 2016. As of June 30th there were 227 properties of all types available for purchase through the MLS® in the Quesnel area.

Northwest Region

Prince Rupert: 101 properties worth $28.5 million have been reported sold through the MLS® in the Prince Rupert area so far this year, compared to 109 properties worth $24.5 million in the first half of 2015. The median price of the 81 single family homes that sold was $269,000. On average, it took these homes 67 days to sell. As of June 30th there were 181 properties of all types available for purchase through the MLS® in the area.

Terrace: REALTORS® in the Terrace area sold 134 properties worth $39 million in the first six months of 2016, compared to 144 properties worth $35.7 million in the same period last year. Half of the 74 single family homes that sold, sold for less than $315,000. On average, it took these homes 77 days to sell. In addition, 8 parcels of vacant land, 6 half duplexes, and 14 homes on acreage changed hands in the first 6 months of the year. At the end of June there were 245 properties of all types available for purchase through the MLS® in the Terrace area.

Kitimat: 47 properties worth $14 million have sold through the MLS® in the Kitimat area in the first six months of 2016, compared to 40 properties worth $11 million at this time last year. Half of the 33 single family homes sold so far this year, sold for less than $350,000 and, on average it took these homes 67 days to sell. At the end of June there were 144 properties of all types available for purchase through the MLS® in the Kitimat area.

Bulkley Nechako Region

Houston: 33 properties worth $5 million have changed hands so far this year, compared to 35 properties worth $5.3 million in 2015. As of June 30th there were 71 properties of all types available through the MLS® in the Houston area.

Smithers: REALTORS® in the Smithers area reported 126 sales with a value of $27 million in the first six months of 2016, compared to 132 sales worth $33.3 million at this time last year. Half of the 51 single family homes sold so far this year, sold for less than $234,000 and took, on average, 70 days to sell. 14 parcels of vacant land and 26 homes on acreage also changed hands since January 1st. As of June 30th there were 246 properties of all types available through MLS® in the Smithers area.

Burns Lake: In the first six months of 2016, 34 properties worth $3.7 million were reported sold through the MLS® in the Burns Lake area, compared to 46 properties worth $4.2 million in the same time period last year. At the end of June there were 145 properties of all types available for purchase through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® in the Vanderhoof area reported 49 sales worth $9.5 million in the first six months of the year, compared to 57 sales worth $10.4 million to June 30th of 2015. As of June 30th there were 148 properties of all types available for purchase through the MLS® in the Vanderhoof area.

Fort St. James: 33 properties worth $7.2 million have sold through the MLS® in the Fort St. James area so far this year, compared with 29 properties worth $6.7 million in the first six months of 2015. At the end of June there were 88 properties of all types available for purchase through the MLS® in the Fort St. James area.

Northern Region

Fort St. John: REALTORS® assisted in the sale of 191 properties worth $72.7 million in the first half of 2016, compared to 374 properties worth $131 million in the first six months of 2015. The 82 single family homes which sold so far this year had a median selling price of $387,000 and it took, on average, 78 days for these homes to sell. In addition, 17 parcels of vacant land, 25 half duplexes, 12 homes on acreage, 9 manufactured homes in parks and 22 manufactured homes on land changed hands so far this year. As of June 30th there were 837 properties of all types available for purchase through the MLS® in the Fort St. John area.

Fort Nelson: 12 properties worth $2.5 million have sold since January 1st, compared to 17 properties worth $4.4 million in the same period last year. Half of the 4 single family homes sold since January, sold for less than $227,000. These homes took, on average, 132 days to sell. At the end of June there were 158 properties of all types available for purchase through the MLS® in the Fort Nelson area.

Fraser Fort George Region

Mackenzie: In the first six months of 2016, 42 properties worth $7.7 million were reported sold through the MLS® in the Mackenzie area, compared to 36 properties worth $6.4 million to June 30th, 2015. Half of the 31 single family homes sold so far this year, sold for less than $170,000 and took, on average, 126 days to sell. As of June 30th there were 102 properties of all types available for purchase through the MLS® in the Mackenzie area.

Prince George: In the City of Prince George, 754 properties worth $211 million have changed hands so far this year, compared with 721 properties worth $186 million in the first six months of last year. In the western part of the City, the median price of the 143 single family homes that have sold through MLS® was $269,007. In the area east of the Bypass, the 95 single family homes that sold had a median price of $225,200. In the northern part of the City 110 single family homes sold with a median price of $310,000. The 125 single family homes that sold in the southwest section of the City had a median sale price of $352,000. At the end of June there were 628 properties of all types available for purchase through the MLS® in the City of Prince George.

The 370 REALTOR® members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports growth that encourages economic vitality, provides housing opportunities, respects the environment, protects property owners and builds communities with good schools and safe neighbourhoods. The 370 REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

 

Average Selling Price (Year to Date)

MLSÒ Reported Sales – Residential Detached House

BC NORTHERN REAL ESTATE BOARD

 

Community

June 30, 2014

Units

June 30, 2015

Units

June 30, 2016

Units

100 Mile House

250,900

51

227,997

49

252,137

76

Williams Lake

261,552

65

238,306

75

251,715

70

Quesnel

222,761

57

223,112

56

212,301

67

Prince Rupert

206,496

141

241,503

80

285,055

81

Houston

149,150

10

152,717

20

154,781

16

Smithers

251,475

59

271,206

63

232,379

51

Burns Lake

114,066

12

110,949

19

120,702

15

Vanderhoof

204,048

27

204,702

26

204,900

10

Fort St. James

152,725

8

161,318

11

207,338

13

Fort St. John

400,875

201

422,277

139

405,421

82

Fort Nelson

314,275

10

316,390

10

225,900

4

Mackenzie

163,313

33

166,057

26

181,351

31

Prince George

275,353

459

282,254

486

300,903

484

Terrace

294,651

99

302,162

80

324,478

74

Kitimat

320,131

49

301,336

25

318,754

33

 

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

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For more information about local conditions, contact:         

 

William Lacy, President (Quesnel)                                         250-992-7202

John Evans, Vice-President (Terrace/Prince Rupert)            250-638-7001

David Black, Past President (Prince George)                        250-564-4488

Bob Quinlan, Director (Prince George)                                  250-562-2121

Leah Mayer, Director (Prince George)                                   250-564-4488

Shawna Kinsley, Director (Prince George)                            250-562-3600

Court Smith, Director (Williams Lake)                                   250-392-5959

DJ Mio, Director (Smithers)                                                   250-877-3677

Roland Cataford, Director (Fort St. John)                              250-261-0001

            Mike Austin, Non-REALTOR® Director (Williams Lake)       250-267-2211

News Release - June 30, 2016

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BC Northern Real Estate Board supports the creation of a dedicated Superintendent of Real Estate

The BC Northern Real Estate Board supports all initiatives that enhance professionalism and protect the consumer and we specifically support the creation of a dedicated Superintendent of Real Estate who will focus on consumer protection.

BC Northern represents 380 REALTORS® who live and work in north and north-central British Columbia.  “Our members provide professional real estate services and strive to be trusted advisers for buyers and sellers in rural areas, towns and small cities across our vast board area,” says President William Lacy. “Regulatory focus on the real estate industry is welcomed by members who organize their dealings in a principled manner.”

The BC Northern Real Estate Board looks forward to working with the new Superintendent of Real Estate to discuss ways to implement the Independent Advisory Group’s recommendations in a manner that meets the unique needs of the northern consumer.  “Our Board remains committed to ensuring consumers in the north and north-central areas of the province have access to well-trained professional REALTORS® who are knowledgeable about real estate matters in their communities.”

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The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

 

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

For more information about local conditions, contact:         

 

 William Lacy, President (Quesnel)                                        250-992-7202

John Evans, Vice-President (Terrace/Prince Rupert)            250-638-7001

David Black, Past President (Prince George)                        250-564-4488

Bob Quinlan, Director (Prince George)                                  250-562-2121

Leah Mayer, Director (Prince George)                                   250-564-4488

Shawna Kinsley, Director (Prince George)                            250-562-3600

Court Smith, Director (Williams Lake)                                  250-392-5959

DJ Mio, Director (Smithers)                                                   250-877-3677

Roland Cataford, Director (Fort St. John)                              250-261-0001

            Mike Austin, Non-REALTOR® Director (Williams Lake)        250-267-2211

 

News Release - April 7, 2016

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News Release

The BC Northern Real Estate Board (BCNREB) reported 859 sales with a value of $217,647,633 through the Multiple Listing Service® (MLS®) in the first quarter of 2016. This compares with 856 sales worth $213,161,426 to the end of March, 2015. As of March 31st there were 3973 properties of all types available for purchase through the MLS® compared to 4023 at this time last year.

President William Lacy comments, “Although we are dealing with the hurdles that come from lagging oil prices in the furthest northern reaches of our Board, we are still seeing steady and strong demand for this time of year when we look at the Board as a whole.  Once oil bounces back and a few of the large initiatives get up and running, the northern areas will be bustling with activity.  The bright spots we are seeing are the southern areas of the Board, with activity up above last year’s levels.  An early spring has kick-started the selling season and we hope the activity holds strong throughout the year.

As the lower mainland continues to heat up, there will be more of an impetus for people to move away from the higher-priced centers toward a more affordable area with an extremely high quality of life, which the Northern part of the Province has always provided.”

(2015 values appear in brackets)

Cariboo Region

100 Mile House and area: A total of 71 (50) properties of all types worth $14.6 million ($10.5 million) have been sold by REALTORS® in the area since the beginning of the year. In the first three months of 2016, 26 single family homes, 10 parcels of vacant land and 22 homes on acreage changed hands. At the end of the quarter there were 578 (640) properties available for purchase through the MLS®.

Williams Lake: 75 (58) properties have sold so far this year through MLS® in the Williams Lake area. The value of these properties was $ 14.2 million ($13.2). In addition to the 26 single family homes sold, 17 homes on acreage, 10 manufactured homes in parks and 8 manufactured homes on land have changed hands in the first quarter.  As of March 31st there were 319 (407) properties listed on the MLS® in the Williams Lake area.

Quesnel: In the Quesnel area REALTORS® reported 50 (28) sales worth $8.7 million ($5.1 million) in the first three months of 2016. In addition to the 26 single family homes that sold, 9 parcels of vacant land and 8 homes on acreage have sold this year. There were 239 (242) properties of all types available for purchase through MLS® in the Quesnel area as of March 31st.

Northwest Region

Prince Rupert: 47 (37) properties worth $14.7 million ($8.1 million) have sold through the MLS® so far this year. Of those 47 properties sold, 37 were single family residential properties and 3 were parcels of vacant land. As of March 31st there were 157 (173) properties of all types available for purchase through the MLS® in the Prince Rupert area.

Terrace: REALTORS® in the Terrace area sold 51 (52) properties in the first quarter of 2016. The value of these properties was $15 million ($12 million). 29 single family homes and 2 manufactured homes in parks have changed hands since January 1st.  As of March 31st there were 208 (190) properties of all types available for sale in the Terrace area.

Kitimat: In the first quarter of 2016, 20 (20) properties worth $5.5 million ($5.7 million) have been reported sold. Of those 20 properties, 13 were single family homes, 2 were half duplexes and 3 were townhouses. At the end of March there were 110 (93) properties of all types available for sale through MLS® in the Kitimat area.

Bulkley Nechako Region

Smithers: REALTORS® in the Smithers area reported 44 (55) sales with a value of $9.4 million ($14.1 million) to March 31st, 2016. In addition to the 16 single family homes that sold, 4 parcels of vacant land, 8 homes on acreage and 2 manufactured homes on land changed hands this year. At the end of the first quarter there were 221 (245) properties of all types available for purchase through the MLS® in the Smithers area.

Burns Lake: 16 (19) properties worth $1.4 million ($1.5 million) have changed hands since January 1st. At the end of March there were 102 (128) properties of all types available for sale through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® in the Vanderhoof area reported 13 (10) sales worth $2.4 million ($1.9 million) in the first quarter of 2016. At the end of March there were 116 (125) properties available for purchase through the MLS® in the Vanderhoof area.

Fort St. James: In the first quarter of 2016 there were 13 (13) sales worth $2.7 million ($3.9 million) in the Fort St. James area. As of March 31st there were 67 (70) properties available on the MLS® in the area.

Northern Region

Fort St. John: In the Fort St. John area, 74 (176) properties worth $30 million ($56.6 million) changed hands in the first quarter of 2016. In addition to the 23 single family homes sold, 8 parcels of vacant land, 11 half duplexes, 6 homes on acreage, 4 manufactured homes in parks and 10 manufactured homes on land have sold since January 1st. At the end of March there were 689 (484) properties of all types available for purchase through the MLS® in the Fort St. John region.

Fort Nelson: 7 (8) properties worth $1.6 million ($2.3 million) were reported sold through the MLS® since the beginning of the year. At the end of March there were 117 (102) properties available for purchase through the MLS® in the Fort Nelson area.

Fraser Fort George Region

Mackenzie: Since January 1st 14 (18) properties worth $2.6 million ($3.5 million) have changed hands. As of March 31st there were 75 (41) properties available for purchase through the MLS® in the Mackenzie area.                                   

City of Prince George:  281 (244) properties of all types, worth $76.3 million ($61.5 million), have changed hands in the first 3 months of 2016 in the City of Prince George. In the west part of the City the median price of the 53 single family homes that have sold on MLS® was $260,000 ($234,000).  In the area east of the By-pass, the 34 single family homes that sold had a median value of $215,000 ($180,000). In the northern part of the City, commonly referred to as “the Hart”, 43 single family homes sold with a median price of $289,000 ($289,000).  In the southwestern section of the City, 51 homes have sold since January with a median price of $312,000 ($355,000). At the end of March there were 600 (644) properties of all types available on the MLS® within the City limits.

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)

MLSÒ Reported Sales – Residential Detached House

BC NORTHERN REAL ESTATE BOARD

Community

March 31 2014

Units

March 31 2015

Units

March 31 2016

Units

100 Mile House

223,154

22

176,333

15

212,357

26

Williams Lake

245,769

23

219,622

25

235,488

26

Quesnel

185,278

14

218,923

13

185,450

26

Prince Rupert

190,461

56

238,407

28

293,181

37

Smithers

237,652

23

278,480

22

248,968

16

Fort St. John

391,607

72

416,527

59

401,538

23

Mackenzie

160,673

10

166,833

12

178,067

12

Prince George

269,055

165

275,914

167

293,577

185

Terrace

294,067

43

284,564

31

301,589

29

Kitimat

321,786

23

305,885

14

354,961

13

Note: Any area with fewer than 10 residential detached house sales in the past 3 years has been omitted from this chart.

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

-30-

For more information about local conditions, contact:            

William Lacy, President (Quesnel)                                           250-992-7202

John Evans, Vice-President (Terrace/Prince Rupert)              250-638-7001

David Black, Past President (Prince George)                          250-564-4488

Bob Quinlan, Director (Prince George)                                    250-562-2121

Leah Mayer, Director (Prince George)                                     250-564-4488

Shawna Kinsley, Director (Prince George)                              250-562-3600

Court Smith, Director (Williams Lake)                                     250-392-5959

DJ Mio, Director (Smithers)                                                     250-877-3677

Roland Cataford, Director (Fort St. John)                                250-785-8051

           Mike Austin, Non-REALTOR® Director (Williams Lake)          250-267-2211

News Release - April 5, 2016

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News Release

PRINCE GEORGE, BC - The BC Northern Real Estate Board (BCNREB)  elected its new Board of Directors for the 2016/2017 year at its Annual General Meeting held on March 11, 2016.

William Lacy, RE/MAX Quesnel Realty has been elected as 2016-2017 President.

President William Lacy comments: “I am proud and excited to serve as the Chair of the Board and the President of the BC Northern Real Estate Board for the coming year. We have another wonderful year ahead of us as we continuously work on improving the lives of our REALTORS® and the citizens of our communities, as they turn to us for their housing needs.  I would like to reiterate that, as we sit around the board table, we truly reflect on the needs of every REALTOR® in the North, which is no easy task since we are such a vast geographic and demographically diverse area.  My door is always open if anyone would like to have a discussion around topics that concern you or your areas and, again, I am humbled to be able to serve the BC Northern Real Estate Board as the Chair.”

John Evans, RE/MAX Coast Mountains has been elected as Vice-President, and David Black, Royal LePage Prince George is now Past President.

Directors:

William Lacy, President, Cariboo Region

John Evans, Vice-President, Skeena Queen Charlotte/Kitimat Stikine Region

David Black, Past President, Fraser Fort George Region

Shawna Kinsley, Fraser Fort George Region

Leah Mayer, Fraser Fort George Region

Bob Quinlan, Fraser Fort George Region

Mike Austin, Non-REALTOR® Director, Cariboo Region

Roland Cataford, Peace River/Fort Nelson-Liard Region

Court Smith, Cariboo Region

DJ Mio, Bulkley Nechako Region

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

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For more information about local conditions, contact:          

William Lacy, President (Quesnel)                                           250-992-7202

John Evans, Vice-President (Terrace/Prince Rupert)              250-638-7001

David Black, Past President (Prince George)                         250-564-4488

Bob Quinlan, Director (Prince George)                                   250-562-2121

Leah Mayer, Director (Prince George)                                    250-564-4488

Shawna Kinsley, Director (Prince George)                             250-562-3600

Court Smith, Director (Williams Lake)                                    250-392-5959

DJ Mio, Director (Smithers)                                                    250-877-3677

Roland Cataford, Director (Fort St. John)                              250-785-8051

Mike Austin, Non-REALTOR® Director (Williams Lake)        250-267-2211

News Release - January 7, 2016

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January 7, 2016

News Release

The REALTOR® members of the BC Northern Real Estate Board (BCNREB) reported 4840 property sales worth $1.2 billion in 2015 through the Multiple Listing Service® (MLS®), down from last year’s 5,218 sales worth $1.3 billion.

Both sales and listings were down slightly in 2015 from the previous year, though both were also near 2013 levels. Looking specifically at sales, and only for the month of December, BC Northern saw 6% more sales (12.3% more detached residential sales) than the prior December, though, as stated, the overall annual sales dropped by a slight 6.5%. The average price of residential detached homes rose by 1% across the Board, though all property types, in aggregate, saw a drop of less than 2%. 

Considering the size of our Board area, Board averages may not reflect local markets. This year, in particular, significant regional disparity is apparent, with those areas most exposed to commodity markets experiencing a higher than average drop in sales and, in some instances, a drop in average prices. Other areas remained stable or saw higher than average sales.

“Some areas in the BC Northern area are being affected by the global commodity slowdown and have seen a drop in sales volume and also price pressure,” comments Ken Laursen, Past President of BC Northern. “The effect of commodity markets on the housing market in some areas brings to the forefront the fact that the economy of the north remains largely commodity driven.”

Prince George continues to be mostly unaffected by the economic conditions in either the northern, western or southern areas of our Board area, likely thanks to a more diversified economy. Sales for 2015 are nearly identical to the year before, while average sale prices for all properties have risen slightly (approximately 6%).

The western area saw larger drops in sales, with Kitimat being particularly affected. After seeing a few consecutive years of significant increases in price, the average price of property in Kitimat has dropped this year. Sales to active listing ratio for December 2015 was 11% and suggestive of a buyer’s market. Terrace also saw in drop in sales and average prices in 2015, though the Board believes this drop is more of a market normalization after the City experienced an unusually hot and speculative 2014. While prices for the average property have dropped, they remain above 2013 levels. As seen throughout the western region, Prince Rupert’s sales have fallen more than the Board average. The City has, however, continued to see an increase in average sale prices. Smithers has seen a small drop in sales for 2015 but an overall raise in average sale price.

The northern area, as expected, was particularly affected by the commodity (especially oil and gas) markets. Fort St John’s sales dropped by approximately 28% with an approximately 9% drop in average property prices. The sales to active listings ratio for December 2015 was 7%, suggestive of a buyers’ market. 

In the southern area, 100 Mile House has benefitted from the hot market in the lower mainland, with an influx of recreational property buyers driving the short distance north to purchase vacation homes. Both the number of sales and the average sale prices were up in the District. Williams Lake saw a modest drop in sales and average sale prices which, the Board surmises, may be caused by concerns over the lower rates for copper.

While BC’s economy continues to outperform the rest of Canada, some areas of the north have seen difficult economic conditions. Some of the previous price gains in the northern and western areas of the Board were caused by speculation and a return to pre-2014 numbers may actually benefit local residents, especially local buyers. Forecasts for 2016 suggest commodity markets will continue much as they have through 2015, though the Board sees some hope for improvement toward the end of the year.

By Region

Cariboo Region

In the 100 Mile House area 384 properties worth $88.3 million sold this year through MLS®, compared with 345 properties worth $71.6 million in 2014. The 114 single family homes that sold in 2015 had a median value (half sold for less) of $220,500. In addition, 81 parcels of vacant land, 106 homes on acreage, 24 manufactured homes on land, 4 manufactured homes in a park, and 40 recreational properties changed hands in 2015. At the end December there were 465 properties of all types available for sale through MLS® in the 100 Mile House area, down from the 542 properties at the end of 2014.

In Williams Lake, 359 sales worth $76.3 million were reported through MLS® in 2015, down from 369 sales worth $87 million the previous year. Half of the 134 single family homes sold in 2015 sold for less than $224,000. 33 parcels of vacant land, 82 homes on acreage, 17 townhomes, 30 manufactured homes in parks and 28 manufactured homes on land were also sold in 2015. At the end of December there were 286 properties of all types available through MLS® in the Williams Lake area, down from 329 properties at the same time last year.

273 properties changed hands in the Quesnel area in 2015 through MLS®, down from 281 that were sold in 2014. The value of these properties was $50.4 million ($54.3 million in 2014). The median value of the 121 single family homes sold in 2015 was $202,500. In addition, 35 parcels of vacant land, 60 homes on acreage, 13 manufactured homes in parks and a further 19 on land were reported sold in 2015. At year end there were 181 properties of all types available for purchase through MLS® in the Quesnel area, down from 192 properties at the end of 2014.

Northwest Region

In Prince Rupert 209 properties worth $51.4 million changed hands in 2015 compared with 289 properties worth $63.2 million in 2014. Half of the 158 single family homes sold in 2015 sold for less than $260,000. In addition 19 parcels of vacant land, 1 townhouse and 8 half duplexes sold in 2015. At year end there were 153 properties of all types available through MLS® in the Prince Rupert area, down from the same time last year.

The 271 properties that sold in the Terrace area in 2015 were worth $70 million compared with 2014’s 351 properties worth $87.3 million. Of the 153 single family homes that changed hands, half sold for less than $307,000. In addition, 16 parcels of vacant land, 22 homes on acreage, 33 manufactured homes in parks and a further 19 on land sold in 2015. As of December 31st there were 151 properties of all types available through MLS® in the Terrace area, down from the 152 properties available at December 31st, 2014.

In the Kitimat area, 120 properties worth $33 million changed hands in 2015 compared to the 146 properties worth $41.6 million that sold in 2014. The median value of the single family homes sold in 2015 was $307,300. In addition 20 half duplexes and 5 townhomes were sold. At year end there were 63 properties of all types available in the Kitimat area, compared with 94 at December 31st, 2014.

Bulkley Nechako Region

60 properties worth $9.9 million changed hands in the Houston area in 2015, compared to the 64 properties worth $10.7 million that sold in 2014. The median value of the 32 single family homes sold was $159,500. As of December 31st there were 50 properties of all types available in the Houston area.

REALTORS® reported 252 sales worth $65.9 million in the Smithers area in 2015, compared to 266 sales worth $60.5 million in 2014. The median value of the 113 single family homes that sold in 2015 was $258,000. 22 parcels of vacant land, 59 homes on acreage, 17 manufactured homes in parks and a further 17 on land also changed hands in 2015. At year end there were 211 properties of all types available through MLS® in the Smithers area, no change from the 211 properties available a year ago.

In Burns Lake 105 properties with a value of $12.7 million sold in 2015 compared with 71 worth $8.2 million in 2014. Half of the 45 single family homes that sold, sold for less than $97,500. 18 parcels of vacant land, 24 homes on acreage and 6 manufactured homes on land also changed hands in 2015. As of December 31st there were 114 properties of all types available through MLS® in the Burns Lake area, down from 130 at the end of 2014.

The 120 properties sold in Vanderhoof in 2015 were worth $22.2 million, compared with 2014’s 132 properties worth $25.4 million. Of the 44 single family homes that sold in 2015, half sold for less than $218,000. In addition, 17 parcels of vacant land, 31 homes on acreage, 6 manufactured homes in parks and a further 10 manufactured homes on land changed hands in 2015. As of December 31st there were 103 properties of all types available through MLS® in the Vanderhoof area, compared with 95 properties a year ago.

In Fort St. James 53 properties worth $11.8 million sold in 2015, compared to 42 properties worth $7.9 million in 2014. At year end there were 58 properties of all types available through MLS® in the Fort St. James area, compared to 57 at the same time last year.

Northern Region

In Fort St. John 691 properties with a value of $253.6 million sold in 2015, down from 943 properties worth $379 million that sold in 2014. Of the 266 single family homes sold in 2015, half sold for less than $403,500. In addition, 97 parcels of vacant land, 90 half duplexes, 51 homes on acreage, 43 manufactured homes in parks and a further 75 on land sold in 2015. At the end of December there were 479 properties of all types available through MLS® in the Fort St. John area, up from the 400 properties at the end of 2014.

The 41 properties sold in the Fort Nelson area through MLS® in 2015 were worth $9.6 million, down from 2014’s 56 properties worth $14 million. Half of the 19 single family homes sold in 2015, sold for less than $274,900. There were 4 homes on acreage and 3 townhomes also sold in 2015. As of December 31st, there were 117 properties of all types available through MLS® in the Fort Nelson area, up from the 95 properties on December 31st, 2014.

Fraser Fort George Region

In the Mackenzie area 67 properties worth $11 million were reported sold in 2015, compared with 2014’s 77 properties worth $12.7 million. The median value of the 47 single family homes that sold in 2015 was $158,000. At year end there were 72 properties of all types available through MLS® in the Mackenzie area, no change from the 72 properties at the same time in 2014.

In the City of Prince George, 1442 properties worth $377 million sold in 2015, compared with 1449 properties worth $355.5 million in 2014. At year end there were 481 properties of all types available through MLS® compared to 556 properties at the end of 2014.

In the area west of the by-pass, half of the 303 single family homes sold in 2015, sold for less than $250,000. As well, 24 apartment units and 47 townhomes changed hands in 2015. As of December 31st there were 30 single family homes listed through MLS® in this area of the City, compared to 40 at the same time last year.

East of the by-pass 16 apartment units, 16 half duplexes, and 15 townhomes sold in 2015. The 185 single family homes sold had a median value of $205,000. At the end of December there were 27 single family homes available for sale through MLS® in this area compared with 38 at the end of 2014.

In the northern part of the city, 40 homes on acreage, 23 manufactured homes in parks and a further 55 manufactured homes on land sold in 2015. Of the 199 single family homes sold, half sold for less than $289,900. As of December 31st there were 31 single family homes available through MLS® in this area of the City compared with 33 at the end of 2014.

In the southwest sector 9 half duplexes, 21 townhomes, 9 homes on acreage, 7 manufactured homes in parks and a further 2 manufactured homes on land sold in 2015. Half of the 272 single family homes sold in 2015 sold for less than $352,300. At year end there were 57 single family homes available for sale through MLS® in the southwest sector, compared with 43 at the end of 2014.

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports the growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)

MLS® Reported Sales – Single Family Residential

BC Northern Real Estate Board

 

Community

December

31, 2013

Units

December 31, 2014

Units

December 31, 2015

Units

100 Mile House

238,189

78

243,605

119

226,984

114

Williams Lake

232,301

118

253,773

138

237,103

134

Quesnel

204,483

105

212,152

123

213,704

121

Prince Rupert

192,379

187

217,651

212

260,604

158

Houston

166,547

21

157,063

44

157,487

32

Smithers

254,853

110

247,458

106

273,241

113

Burns Lake

129,728

23

117,815

35

133,756

45

Vanderhoof

219,221

43

204,255

52

211,179

44

Fort St. James

174,531

16

192,276

21

171,139

27

Fort St. John

373,648

381

418,646

422

425,083

266

Fort Nelson

316,880

31

302,961

27

280,278

19

Mackenzie

153,032

79

164,662

61

169,321

47

Prince George

259,962

910

271,580

950

284,611

976

Terrace

251,477

219

302,340

177

308,436

153

Kitimat

238,411

142

318,046

78

298,624

82

 

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

-30-

 

For more information about local conditions, contact:          

            David Black, President (Prince George)                                 250-564-4488

            Ken Laursen, Past President (Prince George)                       250-564-4488

            Debbie Piete, Director (Prince George)                                 250-564-4488

            Clint Dahl, Director (Prince George)                                      250-564-4488

            Roland Cataford, Director (Fort St. John)                              250-785-8051

            William Lacy, Vice-President (Quesnel)                                 250-992-7202

            Court Smith, Director (Williams Lake)                                    250-392-5959

            John Evans, Director (Terrace/Prince Rupert)                       250-638-7001

            DJ Mio, Director (Smithers)                                                   250-877-3677

 

News Release - October 6, 2015

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The BC Northern Real Estate Board reports 3833 properties worth $979.3 million sold through the Multiple Listing Service® (MLS®) in the first nine months of 2015. At this time last year, 4195 properties worth $1.07 billion had changed hands. As of September 30th there were 4575 properties of all types available for sale through the MLS®, down slightly from 4658 properties at the end of September last year.

BCNREB Vice-President William Lacy comments: “Given the slump in energy prices and overall economic lull, it is reassuring to see the overall numbers for the BCNREB are holding strong.  Certain areas have been hit harder, but other areas are showing increases in prices and overall activity to create for a balanced result through the third quarter of the year.

With predicted increases in global activity, and growth predicted for BC in the coming quarters, we are looking for a solid close to the year and for increases to resume throughout next year. 

Also, with potential boosts to the northern markets via large energy projects, this may be an opportunity to take advantage before the next upswing in the market.”

By Region:

Cariboo

100 Mile House: So far this year 289 properties worth $68.4 million have changed hands, compared to 270 properties worth $56.9 million to the end of September in 2014.  Half of the 88 single family homes that have sold, sold for less than $220,000 and took, on average, 110 days to sell. In addition, 60 parcels of vacant land, 76 homes on acreage, 3 manufactured homes in parks and a further 17 manufactured homes on land, as well as 36 recreational properties have sold this year.  As of September 30th there were 796 properties of all types available for purchase through the MLS® in the 100 Mile House area.

Williams Lake: 293 properties worth $62 million have sold in the first nine months, compared to 317 properties worth $74.8 million in the same period last year. Of the 109 single family homes sold to the end of September, half sold for less than $228,500 and these homes took, on average, 71 days to sell. In addition, 30 parcels of vacant land, 11 townhomes, 62 homes on acreage, and 26 manufactured homes in parks and a further 25 on land, have sold this year. At the end of September there were 382 properties of all types available for purchase through MLS® in the Williams Lake area.

Quesnel: To the end of September 224 properties worth $43 million sold through MLS® compared to 216 properties worth $42 million to the end of the third quarter of 2014. Half of the 101 single family homes sold so far this year, sold for less than $203,000 and took, on average, 87 days to sell. Also changing hands this year were 26 parcels of vacant land, 55 homes on acreage, 7 manufactured homes in parks and 17 manufactured homes on land. At the end of September there were 297 properties of all types available for purchase through the MLS® in the Quesnel area.

Northwest

Prince Rupert: 168 properties worth $39.7 million changed hands so far this year in the Prince Rupert area, compared with 263 properties worth $55.4 million to the end of September 2014. Of the 126 single family homes that have changed hands this year, half sold for less than $241,000 and on average, took 94 days to sell. As of September 30th there were 179 properties of all types available through the MLS® in the Prince Rupert area.

Terrace: In the first nine months of the year, 225 properties worth $57.6 million were reported sold in the Terrace area, compared to 288 properties worth $72.5 million during the same period last year. Half of the 131 single family homes that have sold so far this year, sold for less than $308,750 and these homes took, on average, 66 days to sell. Also changing hands were 16 parcels of vacant land, 1 multi-family dwelling, 15 homes on acreage, 28 manufactured homes in parks and 13 manufactured homes on land. At the end of September there were 182 properties of all types available through the MLS® in the Terrace area.

Kitimat: 89 properties worth $24.4 million have changed hands in the first nine months of 2015, compared to 128 properties worth $35.9 million to September 30th of 2014. Of the 57 single family homes sold so far this year, half sold for less than $310,000. These homes took, on average 92 days to sell.  In addition, 2 parcels of vacant land, 18 half duplexes and 4 townhomes were also sold this year. At the end of September there were 91 properties of all types available through the MLS® in the Kitimat area.

Bulkley Nechako

Houston: To the end of September, 48 properties worth $7.7 million sold in the Houston area, compared with 47 properties worth $7.2 million in the same period last year. At the end of September there were 49 properties of all types available for purchase through MLS® in the Houston area.

Smithers: As of September 30th, 191 properties worth $49.5 million changed hands in the Smithers area, compared with 211 properties worth $47.5 million in the first nine months of 2014. Half of the 88 single family homes sold so far this year, sold for less than $258,000 and these homes took, on average, 90 days to sell. Also changing hands this year were 13 parcels of vacant land, 47 homes on acreage, 14 manufactured homes in parks and 13 manufactured homes on land. As of September 30th, there were 260 properties of all types available through the MLS® in the Smithers area.

Burns Lake: So far this year 81 properties worth $9.6 million have been reported sold through MLS® compared to 57 properties worth $6.6 million in the first nine months of 2014. At the end of September there were 151 properties of all types available for sale through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® assisted in the sale of 88 properties worth $16.2 million in the first nine months of the year compared with 102 properties worth $18.4 million in the same time last year.  Half of the 33 single family homes sold so far this year, sold for less than $205,000 and these homes took, on average, 118 days to sell. Also changing hands were 11 parcels of vacant land and 22 homes on acreage.  At the end of September there were 157 properties of all types available through MLS® in the Vanderhoof area.

Fort St. James: 40 properties worth $8.5 million were reported sold to the end of September, compared to 36 properties worth $6.7 million in the same period last year. As of September 30th there were 86 properties of all types available for purchase through MLS® in the Fort St. James area.

North

Fort St. John:  As of September 30th 578 properties worth $210.1 million were reported sold in the area, compared to 740 properties worth $287.6 million to September 30th of 2014. Half of the 220 single family homes sold so far this year, sold for less than $405,000; these homes took, on average, 44 days to sell. In addition, 88 parcels of vacant land, 75 half duplexes, 40 homes on acreage, 39 manufactured homes in parks and a further 59 manufactured homes on land, were reported sold. At the end of September there were 599 properties of all types available for purchase through MLS® in the Fort St. John area.

Fort Nelson: 29 properties worth $6.7 million have sold in the first nine months of 2015, compared with 47 properties worth $11.5 million to the end of September 2014. Of the 14 single family homes sold so far, half sold for less than $300,000. On average these homes took 100 days to sell. Also changing hands were 2 homes on acreage, 2 manufactured homes in parks and 7 manufactured homes on land. As of September 30th there were 124 properties of all types available for purchase through MLS® in the Fort Nelson area.

Fraser Fort George

Mackenzie: In the first nine months of 2015, 57 properties worth $9.3 million were reported sold through MLS® in the Mackenzie area, compared with 60 properties worth $9.4 million to September 30th, 2014. Half of the 38 single family homes sold so far this year, sold for less than $156,000 and these homes took, on average, 121 days to sell. At the end of September there were 94 properties of all types available for purchase through MLS® in the Mackenzie area.

Prince George: In the City of Prince George, to the end of September, 1127 properties worth $291.7 million changed hands, compared with 1157 properties worth $281.6 million to September 30th, 2014.  In the western part of the City the median price of the 226 homes sold this year, was $249,900. In the area east of the By-pass, the 151 single family homes that sold had a median price of $210,000. In the northern part of the City, the 165 single family homes sold had a median price of $290,000. In the southwest section of the city, the median price of the 212 single family homes sold was $345,000. At the end of September, there were 701 properties of all types available for purchase through MLS® in the City of Prince George.

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities by supporting the growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)

MLSÒ Reported Sales – Residential Detached House

BC NORTHERN REAL ESTATE BOARD

Community

September 2012

Units

September

2013

Units

September 2014

Units

September 2015

Units

100 Mile House

$239,667

74

241,261

70

247,946

93

226,131

88

Williams Lake

$255,753

92

233,724

94

259,203

113

241,715

109

Quesnel

$199,045

102

213,598

89

210,760

101

216,339

101

Prince Rupert

$193,691

98

196,215

154

214,136

192

248,865

126

Houston

$140,267

26

175,933

15

154,452

36

153,792

26

Smithers

$258,538

96

253,075

93

247,271

83

270,602

88

Burns Lake

$136,855

29

130,797

21

116,732

25

139,101

35

Vanderhoof

$197,043

52

212,130

32

204,495

43

211,250

33

Fort St. James

$232,873

13

161,200

10

181,694

17

164,764

18

Fort St. John

$353,862

292

372,506

307

410,197

324

428,904

220

Fort Nelson

$328,906

30

319,042

21

298,597

20

301,164

14

Mackenzie

$138,596

74

152,237

55

159,877

46

165,092

38

Prince George

$251,968

677

261,184

725

273,321

755

282,986

767

Terrace

$219,242

148

250,157

170

307,507

136

308,266

131

Kitimat

$175,959

114

230,716

121

318,270

67

303,510

57

 

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

-30-

 

David Black, President (Prince George)                        250-564-4488

Ken Laursen, Past President (Prince George)              250-564-4488

William Lacy, Vice-President (Quesnel)                        250-992-7202

Debbie Piete, Director (Prince George)                        250-564-4488

Clint Dahl, Director (Prince George)                             250-564-4488

Roland Cataford, Director (Fort St. John)                     250-785-8051

Court Smith, Director (Williams Lake)                          250-392-5959

John Evans, Director (Terrace/Prince Rupert)              250-638-7001

DJ Mio, Director (Smithers)                                          250-877-3677

 

News Release - July 13, 2015

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The BC Northern Real Estate Board (BCNREB) reports 2376 properties sold through the Multiple Listing Service® (MLS®) in the first six months of 2015, down from the 2637 sales reported in the first half of 2014. The value of these properties was $601 million compared with $672 million in 2014. At the end of June there were 4779 properties of all types available for purchase through the MLS® of BCNREB, up from 4663 at the same time last year.

BCNREB President David Black comments: “The BC Northern Real Estate Board reflects all of the economic realities associated with the significant drop in oil prices. The communities that heavily depend on the oil and gas industries are experiencing some drops in volume; however they have been very strong markets in the past and will rebound. Those communities expecting to benefit the most from LNG had a great year in 2014 and have now returned to traditional volumes but at higher values. They will now have to wait for the beginning of one of these projects to actually realize the projected benefits.

The southern and central markets are flat and holding steady with respect to volume and value. Prince George, which is our largest market, is more diversified than the remainder of the Board areas and is weathering the storm. Although some areas of town are showing slight decreases, the City as a whole is showing an increase of 4% year over year. Demand remains strong, however, the inventory is dropping which makes it a good time to sell your home. Overall, the real estate market in Northern BC is solid and is looking to future successes.”

By Region

Cariboo Region:

100 Mile House: 157 properties worth $36 million have changed hands through the MLS® in the area since January 1st. This compares with 156 properties worth $31 million in the same period in 2014. Half of the 49 homes that sold so far this year, sold for $195,000 or less and, on average, it took 109 days for these homes to sell. Also reported sold were 32 parcels of vacant land, 39 homes on acreage, 1 manufactured home in park, 13 on land, and 17 recreational properties. At the end of June there were 853 properties of all types available for purchase through the MLS® in the 100 Mile House area.

Williams Lake: 185 properties have sold so far this year, compared to 179 properties by June 30, 2014. The value of these properties is $41 million ($42 million in 2014). Of the 75 single family homes sold this year, half sold for less than $220,000 and these homes took, on average, 78 days to sell. In addition, 16 parcels of vacant land, 4 townhouses, 39 homes on acreage, 17 manufactured homes in parks and 14 manufactured homes on land changed hands in the first six months of 2015. At the end of June there were 426 properties of all types available for purchase through the MLS® in the Williams Lake area.

Quesnel: In the Quesnel area, REALTORS® reported 122 sales worth $23 million so far this year, compared to 125 sales worth $24.2 million in the first six months of 2014. Of the 56 single family homes sold between January and June, half sold for less than $210,000; these homes took, on average, 94 days to sell. In addition, 15 parcels of vacant land, 26 homes on acreage, 4 manufactured homes in parks and 11 manufactured homes on land have sold in the first six months of 2015. As of June 30th there were 336 properties of all types available for purchase through the MLS® in the Quesnel area.

Northwest Region

Prince Rupert: 109 properties worth $24.5 million have been reported sold through the MLS® in the Prince Rupert area so far this year, compared to 197 properties worth $40.3 million in the first half of 2014. The median price of the 80 single family homes that sold was $238,000. On average, it took these homes 109 days to sell. As of June 30th there were 186 properties of all types available for purchase through the MLS® in the area.

Terrace: REALTORS® in the Terrace area sold 144 properties worth $35.7 million in the first six months of 2015, compared to 201 properties worth $48.4 million in the same period last year. Half of the 80 single family homes that sold, sold for less than $286,000. On average, it took these homes 70 days to sell. In addition, 9 parcels of vacant land, 3 half duplexes, and 9 homes on acreage changed hands in the first 6 months of the year. At the end of June there were 209 properties of all types available for purchase through the MLS® in the Terrace area.

Kitimat: 40 properties worth $11 million have sold through the MLS® in the Kitimat area in the first six months of 2015, compared to 94 properties worth $26 million at this time last year. Half of the 25 single family homes sold so far this year, sold for less than $310,000 and, on average it took these homes 96 days to sell. At the end of June there were 102 properties of all types available for purchase through the MLS® in the Kitimat area.

Bulkley Nechako Region

Houston: 35 properties worth $5.3 million have changed hands so far this year, compared to 16 properties worth $2.3 million in 2014. As of June 30th there were 50 properties of all types available through the MLS® in the Houston area.

Smithers: REALTORS® in the Smithers area reported 132 sales with a value of $33.3 million in the first six months of 2015, compared to 134 sales worth $30.3 million at this time last year. Half of the 63 single family homes sold so far this year, sold for less than $272,000 and took, on average, 80 days to sell. 11 parcels of vacant land and 26 homes on acreage also changed hands since January 1st. As of June 30th there were 273 properties of all types available through MLS® in the Smithers area.

Burns Lake: In the first six months of 2015, 46 properties worth $4.2 million were reported sold through the MLS® in the Burns Lake area, compared to 36 properties worth $4.2 million in the same time period last year. At the end of June there were 161 properties of all types available for purchase through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® in the Vanderhoof area reported 57 sales worth $10.4 million in the first six months of the year, compared to 62 sales worth $10.3 million to June 30th of 2014. As of June 30th there were 156 properties of all types available for purchase through the MLS® in the Vanderhoof area.

Fort St. James: 29 properties worth $6.7 million have sold through the MLS® in the Fort St. James area so far this year, compared with 18 properties worth $3.4 million in the first six months of 2014 At the end of June there were 95 properties of all types available for purchase through the MLS® in the Fort St. James area.

Northern Region

Fort St. John: REALTORS® assisted in the sale of 374 properties worth $131 million in the first half of 2015, compared to 497 properties worth $188 million in the first six months of 2014. The 139 single family homes which sold so far this year had a median selling price of $403,500 and it took, on average, 39 days for these homes to sell. In addition, 60 parcels of vacant land, 51 half duplexes, 22 homes on acreage, 28 manufactured homes in parks and 38 manufactured homes on land changed hands so far this year. As of June 30th there were 556 properties of all types available for purchase through the MLS® in the Fort St. John area.

Fort Nelson: 17 properties worth $4.4 million have sold since January 1st, compared to 28 properties worth $7 million in the same period last year. Half of the 10 single family homes sold since January, sold for less than $330,000. These homes took, on average, 108 days to sell. At the end of June there were 137 properties of all types available for purchase through the MLS® in the Fort Nelson area.

Fraser Fort George Region

Mackenzie: In the first six months of 2015, 36 properties worth $6.4 million were reported sold through the MLS® in the Mackenzie area, compared to 39 properties worth $6.2 million to June 30th, 2014. Half of the 26 single family homes sold so far this year, sold for less than $155,000 and took, on average, 108 days to sell. As of June 30th there were 87 properties of all types available for purchase through the MLS® in the Mackenzie area.

Prince George: In the City of Prince George, 721 properties worth $186 million have changed hands so far this year, compared with 695 properties worth $170.2 million in the first six months of last year. In the western part of the City, the median price of the 144 single family homes that have sold through MLS® was $249,000. In the area east of the Bypass, the 98 single family homes that sold had a median price of $205,000. In the northern part of the City 102 single family homes sold with a median price of $302,000. The 134 single family homes that sold in the southwest section of the City had a median sale price of $339,900. At the end of June there were 699 properties of all types available for purchase through the MLS® in the City of Prince George.

The 370 REALTOR® members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports growth that encourages economic vitality, provides housing opportunities, respects the environment, protects property owners and builds communities with good schools and safe neighbourhoods. The 370 REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)

MLSÒ Reported Sales – Residential Detached House

BC NORTHERN REAL ESTATE BOARD

Community

June 30, 2013

Units

June 30, 2014

Units

June 30, 2015

Units

100 Mile House

245,404

42

250,900

51

227,997

49

Williams Lake

247,213

60

261,552

65

238,306

75

Quesnel

217,000

53

222,761

57

223,112

56

Prince Rupert

193,756

114

206,496

141

241,503

80

Houston

169,166

12

149,150

10

152,717

20

Smithers

250,257

58

251,475

59

271,206

63

Burns Lake

153,392

14

114,066

12

110,949

19

Vanderhoof

219,023

21

204,048

27

204,702

26

Fort St. James

168,666

6

152,725

8

161,318

11

Fort St. John

377,702

187

400,875

201

422,277

139

Fort Nelson

337,500

12

314,275

10

316,390

10

Mackenzie

148,558

33

163,313

33

166,057

26

Prince George

259,103

451

275,353

459

282,254

486

Terrace

235,000

104

294,651

99

302,162

80

Kitimat

222,766

71

320,131

49

301,336

25

 

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

-30-

News Release - April 8, 2015

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News Release

The BC Northern Real Estate Board (BCNREB) reported 856 sales with a value of $213,161,426 through the Multiple Listing Service® (MLS®) in the first quarter of 2015. This compares with 1005 sales worth $248,635,086 to the end of March, 2014. As of March 31st there were 4023 properties of all types available for purchase through the MLS® compared to 3625 at this time last year.

President David Black comments, “Although the volume of sales was down slightly across BCNREB area, in the first quarter of 2015, the regions more closely associated with the oil and gas industry, the Northeast and North Coast experienced a more significant drop, year over year. This can be attributed to the uncertainty with the long term effects of lower oil prices.

Consumers must remember that overall, the economy of the northern half of the province is still strong and there are billions of dollars in potential developments which could benefit from lower oil costs and better availability of tradespeople. This coupled with historically low interest rates, affordable housing prices and increased inventory makes this a good time to consider making real estate investments or buying a new home.”

(2014 values appear in brackets)

Cariboo Region

100 Mile House and area: A total of 50 (55) properties of all types worth $10.5 million ($11 million) have been sold by REALTORS® in the area since the beginning of the year. In the first three months of 2015, 15 single family homes, 8 parcels of vacant land and 17 homes on acreage changed hands. At the end of the quarter there were 640 (650) properties available for purchase through the MLS®.

Williams Lake: 58 (64) properties have sold so far this year through MLS® in the Williams Lake area. The value of these properties was $ 13.2 million ($14.4). In addition to the 25 single family homes sold, 9 homes on acreage, 6 manufactured homes in parks and 4 manufactured homes on land have changed hands in the first quarter.  As of March 31st there were 407 (360) properties listed on the MLS® in the Williams Lake area.

Quesnel: In the Quesnel area REALTORS® reported 28 (32) sales worth $5.1 million ($6.4 million) in the first three months of 2015. In addition to the 13 single family homes that sold, 1 parcel of vacant land and 8 homes on acreage have sold this year. There were 242 (225) properties of all types available for purchase through MLS® in the Quesnel area as of March 31st.

Northwest Region

Prince Rupert: 37 (83) properties worth $8.1 million ($17.7 million) have sold through the MLS® so far this year. In addition to the 28 single family residential properties and 3 parcels of vacant land have sold. As of March 31st there were 173 (177) properties of all types available for purchase through the MLS® in the Prince Rupert area.

Terrace: REALTORS® in the Terrace area sold 52 (101) properties in the first quarter of 2015. The value of these properties was $12 million ($23 million). 31 single family homes and 3 manufactured homes on land have changed hands since January 1st.  As of March 31st there were 190 (121) properties of all types available for sale in the Terrace area.

Kitimat: In the first quarter of 2015, 20 (36) properties worth $5.7 million ($10.4 million) have been reported sold. Of those 20 properties, 14 were single family homes, 5 were half duplexes and 1 was a home on acreage. At the end of March there were 93 (47) properties of all types available for sale through MLS® in the Kitimat area.

Bulkley Nechako Region

Smithers: REALTORS® in the Smithers area reported 55 (65) sales with a value of $14.1 million ($12.8 million) to March 31st, 2015. In addition to the 22 single family homes that sold, 3 parcels of vacant land, 14 homes on acreage and 2 manufactured homes on land changed hands this year. At the end of the first quarter there were 245 (213) properties of all types available for purchase through the MLS® in the Smithers area.

Burns Lake: 19 (15) properties worth $1.5 million ($1.7 million) have changed hands since January 1st. At the end of March there were 128 (124) properties of all types available for sale through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® in the Vanderhoof area reported 10 (18) sales worth $1.9 million ($3 million) in the first quarter of 2015. At the end of March there were 125 (105) properties available for purchase through the MLS® in the Vanderhoof area.

Fort St. James: In the first quarter of 2015 there were 13 (5) sales worth $3.9 million ($679,500) in the Fort St. James area. As of March 31st there were 70 (62) properties available on the MLS® in the area.

Northern Region

Fort St. John: In the Fort St. John area, 176 (201) properties worth $56.6 million ($69.4 million) changed hands in the first quarter of 2015. In addition to the 59 single family homes sold, 46 parcels of vacant land, 19 half duplexes, 7 homes on acreage, 12 manufactured homes in parks and 16 manufactured homes on land have sold since January 1st. At the end of March there were 484 (372) properties of all types available for purchase through the MLS® in the Fort St. John region.

Fort Nelson: 8 (12) properties worth $2.3 million ($2.6 million) were reported sold through the MLS® since the beginning of the year. At the end of March there were 102 (87) properties available for purchase through the MLS® in the Fort Nelson area.

Fraser Fort George Region

Mackenzie: Since January 1st 18 (13) properties worth $3.5 million ($2 million) have changed hands. As of March 31st there were 41 (52) properties available for purchase through the MLS® in the Mackenzie area.                                  

City of Prince George:  244 (250) properties of all types, worth $61.5 million ($62 million), have changed hands in the first 3 months of 2015 in the City of Prince George. In the west part of the City the median price of the 57 single family homes that have sold on MLS® was $234,000 ($240,000).  In the area east of the By-pass, the 33 single family homes that sold had a median value of $180,000 ($202,500). In the northern part of the City, commonly referred to as “the Hart”, 33 single family homes sold with a median price of $289,000 ($304,000).  In the southwestern section of the City, 43 homes have sold since January with a median price of $355,000 ($321,000). At the end of March there were 644 (622) properties of all types available on the MLS® within the City limits.

The members of the BC Northern Real Estate Board are committed to improving the Quality of Life in their communities. The BC Northern Real Estate Board supports growth which encourages economic vitality, provides housing opportunities and builds communities with good schools and safe neighbourhoods. The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.

REALTOR® and MLS® trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

Average Selling Price (Year to Date)

MLSÒ Reported Sales – Residential Detached House

BC NORTHERN REAL ESTATE BOARD

Community

March 31 2013

Units

March 31 2014

Units

March 31 2015

Units

100 Mile House

251,500

15

223,154

22

176,333

15

Williams Lake

247,296

25

245,769

23

219,622

25

Quesnel

210,073

15

185,278

14

218,923

13

Prince Rupert

185,918

48

190,461

56

238,407

28

Smithers

248,352

17

237,652

23

278,480

22

Burns Lake

135,166

3

135,975

8

109,299

6

Vanderhoof

217,900

8

176,785

7

199,500

3

Fort St. John

373,167

78

391,607

72

416,527

59

Fort Nelson

368,000

5

245,875

4

361,980

5

Mackenzie

132,175

8

160,673

10

166,833

12

Prince George

241,009

171

269,055

165

275,914

167

Terrace

226,303

32

294,067

43

284,564

31

Kitimat

189,687

35

321,786

23

305,885

14

 

Note: Any area with fewer than 10 residential detached house sales in the past 3 years has been omitted from this chart.

Consumers are reminded that real estate is a local commodity and average price can only give an indication of trends. Contact a REALTOR® in your community to determine the value of specific properties.

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For more information about local conditions, contact:            

 

            David Black, President (Prince George)                      250-564-4488

            Ken Laursen, Past President (Prince George)            250-564-4488

            Debbie Piete, Director (Prince George)                      250-564-4488

            Clint Dahl, Director (Prince George)                           250-564-4488

            Roland Cataford, Director (Fort St. John)                   250-785-8051

            William Lacy, Vice-President (Quesnel)                      250-992-7202

            Court Smith, Director (Williams Lake)                         250-392-5959

            John Evans, Director (Terrace/Prince Rupert)            250-638-1400

            DJ Mio, Director (Smithers)                                        250-877-3677