Board News Releases
News Release -April 26, 2023
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BC Northern Real Estate Board of Directors 2023-2024
Prince George, BC - The BC Northern Real Estate Board (BCNREB) is pleased to announce that Breanne Cote was elected Chair for the 2023-2024 term which began at the Board’s recent AGM.
Breanne has been a REALTOR® for 8 years and is a representative at Royal LePage Aspire Realty, Prince George. She has served on many Board Committees including the Professional Standards Committee.
Chair Breanne Cote comments “I am honored to be elected to serve the members of BCNREB as their Chair for 2023. I am looking forward to a year full of learning, growth, and continued momentum for our profession. Our industry is constantly changing and evolving both in terms of technology and the way we run our business and serve our clients, and also with government regulations, public protection and housing needs. I will work hard to make sure that we have a strong united voice in these future developments and have the tools we all need to run professional, successful businesses. I look forward to working with fellow REALTORS®, board members and other boards and associations in order to keep us all informed, connected, and moving forward.”
Founded in 1966, BCNREB is the professional association representing over 400 REALTORS® in the north and north central regions of British Columbia. BCNREB members adhere to a strict REALTOR® Code of Ethics and standards of business practice and remain informed and knowledgeable through required professional development.
Joining Cote as Officers of the Board are Vice Chair Kristine Newell and Past Chair Wynnette Lowes.
The full 2023-2024 BCNREB Board of Directors is as follows:
- Breanne Cote, Chair, Royal LePage Aspire Realty, Prince George.
- Kristine Newell, Vice Chair, Team Powerhouse Realty, Prince George.
- Wynnette Lowes, Past Chair, Century 21 Energy Realty, Fort St. John.
- Vanita Des Mazes, Director, RE/MAX Bulkley Valley, Smithers.
- Guillaume Fortin, Public Director, TIG Management Inc., Prince George.
- Shannon Horrigan, Director, RE/MAX Core Realty, Prince George.
- Kristin Houghtaling, Director, Royal LePage Aspire Realty, Prince George.
- Victor Khong, Director, Horsefly Realty, Horsefly.
- Sheila Love, Director, RE/MAX Coast Mountains-Terrace, Terrace.
- Cameron McLeod, Director, Team Powerhouse Realty, Prince George.
- Jason Ryll, Public Director, Williams Lake & District Chamber of Commerce, Williams Lake.
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The REALTOR® trademark is owned and controlled by The Canadian Real Estate Association. Used under license.News Release -April 21, 2023
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The BC Northern Real Estate Board (BCNREB) reported 726 sales with a value of $269,369,796 through the Multiple Listing Service® (MLS®) in the first quarter of 2023. This compares with 1257 sales worth $495,119,149 to the end of March 2022. As of March 31st, there were 2803 properties of all types available for purchase through the MLS® compared to 1018 at this time last year.
Home sales in the BC Northern region declined to 788 units on a seasonally adjusted basis in the first quarter of 2023, prolonging a downward trend that began about one year ago. From the previous quarter, seasonally adjusted unit sales were down 4.3 per cent, a level roughly 27 per cent below the 10-year average level of sales for the region. Active listings in the North fell 1.7 per cent from the previous quarter to 1,764 on a seasonally adjusted basis, reversing a trend of rising active listings since Q1 of 2022. Prices, meanwhile, fell 5.7 per cent to $376,853 in the first quarter of the year, down from a peak of roughly 431,500 in Q2 of 2022. Prices in March were similar to the level that prevailed in April of 2021. Meanwhile, average days on market rose 20 per cent from the prior quarter to about 75.
Despite declining sales and prices with rising days on market, there are signs that the housing market could be beginning to turn a corner. Declining active listings indicates that sales outpaced new listings, and other areas of the province have seen rising sales and prices in recent months. Although mortgage rates remain high, the Bank of Canada has held its overnight rate steady for the second consecutive month in April. Meanwhile, the economy remains strong, with the provincial unemployment rate near record lows. Within this shifting economic context, BCREA forecasts sales will hit 3,500 in 2023 before rising to 4,200 in 2024. Prices are expected to average $390,000 for the year before rising to $405,000 in 2024.
By Region:
(2022 values appear in brackets)
Cariboo Region
100 Mile House and area: A total of 57 (138) properties of all types worth $22.5 million ($59 million) have been sold by REALTORS® in the area since the beginning of the year. In the first three months of 2023, 23 single-family homes, 11 parcels of vacant land and 11 homes on acreage changed hands. At the end of the quarter there were 218 (84) properties available for purchase through the MLS®.
Williams Lake: 52 (106) properties have sold so far this year through MLS® in the Williams Lake area. The value of these properties was $16.7 million ($39.8). In addition to the 19 single-family homes sold, 7 homes on acreage, 7 manufactured homes in parks, and 3 manufactured homes on land have changed hands in the first quarter. As of March 31st, there were 172 (54) properties listed on the MLS® in the Williams Lake area.
Quesnel: In the Quesnel area REALTORS® reported 48 (79) sales worth $13.4 million ($22.8 million) in the first three months of 2023. In addition to the 23 single-family homes that sold, 6 parcels of vacant land and 6 homes on acreage have sold this year. There were 180 (66) properties of all types available for purchase through MLS® in the Quesnel area as of March 31st.
Northwest Region
Iskut/Atlin: This is a new major area added to the statistics. These statistics used to be a part of the Terrace area statistics. 4 properties worth $1 million have changed hands in 2023; compared to 1 property worth $500,000 in 2022. As of March 31st, there were 5 properties of all types available through the MLS® in the Iskut/Atlin area.
Hazelton/Highway 37: This is a new major area added to the statistics. These statistics used to be a part of the Smithers and Area statistics.5 properties worth $888,000 have changed hands in 2023; compared to 5 properties worth $1.1 million in 2022. As of March 31st, there were 28 properties of all types available through the MLS® in the Hazelton/Highway 37 area.
Prince Rupert: 27 (61) properties worth $11.2 million ($27.6 million) have sold through the MLS® so far this year. Of those 27 properties sold, 18 were single-family residential properties and 4 were manufactured homes on land. As of March 31st, there were 132 (31) properties of all types available for purchase through the MLS® in the Prince Rupert area.
Terrace: REALTORS® in the Terrace area sold 48 (79) properties in the first quarter of 2023. The value of these properties was $19.3 million ($32.9 million). 28 single-family homes, 6 manufactured homes in parks, and 2 manufactured homes on land have changed hands since January 1st. As of March 31st, there were 184 (55) properties of all types available for sale in the Terrace area.
Kitimat: In the first quarter of 2023, 31 (46) properties worth $10.1 million ($16.2 million) have been reported sold. Of those 31 properties, 20 were single-family homes and 4 were half-duplexes. At the end of March there were 89 (60) properties of all types available for sale through MLS® in the Kitimat area.
Bulkley Nechako Region
Smithers: REALTORS® in the Smithers area reported 24 (30) sales with a value of $11.9 million ($14.9 million) to March 31st, 2023. In addition to the 10 single-family homes that sold, 6 homes on acreage, and 2 manufactured homes in parks changed hands this year. At the end of the first quarter there were 80 (33) properties of all types available for purchase through the MLS® in the Smithers area.
Burns Lake: 11 (20) properties worth $3 million ($5 million) have changed hands since January 1st. At the end of March there were 55 (19) properties of all types available for sale through the MLS® in the Burns Lake area.
Vanderhoof: REALTORS® in the Vanderhoof area reported 21 (20) sales worth $7.2 million ($5.3 million) in the first quarter of 2023. At the end of March there were 58 (19) properties available for purchase through the MLS® in the Vanderhoof area.
Fort St. James: In the first quarter of 2023 there were 4 (17) sales worth $1.2 million ($3.6 million) in the Fort St. James area. As of March 31st, there were 28 (5) properties available on the MLS® in the area.
Northern Region
Fort St. John: In the Fort St. John area, 118 (141) properties worth $47 million ($60.5 million) changed hands in the first quarter of 2023. In addition to the 52 single-family homes sold, 11 half-duplexes, 13 homes on acreage, 8 manufactured homes in parks and 9 manufactured homes on land have sold since January 1st. At the end of March there were 454 (208) properties of all types available for purchase through the MLS® in the Fort St. John region.
Fort Nelson: 17 (25) properties worth $2.1 million ($5 million) were reported sold through the MLS® since the beginning of the year. At the end of March there were 109 (49) properties available for purchase through the MLS® in the Fort Nelson area.
Fraser Fort George Region
Mackenzie: Since January 1st 10 (39) properties worth $2 million ($6.4 million) have changed hands. As of March 31st, there were 58 (41) properties available for purchase through the MLS® in the Mackenzie area.
City of Prince George: 188 (325) properties of all types, worth $81.9 million ($153.6 million), have changed hands in the first 3 months of 2023 in the City of Prince George. In the western part of the City, the median price of the 29 single-family homes that have sold on MLS® was $ $425,000 ($443,000). In the area east of the by-pass, the 27 single-family homes that sold had a median value of $ $370,000 ($419,900). In the northern part of the city, commonly referred to as “the Hart”, 20 single-family homes sold with a median price of $465,000 ($502,000). In the southwestern section of the city, 31 homes have sold since January with a median price of $590,000 ($628,000). At the end of March there were 639 (198) 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)
MLS® Reported Sales – Residential Detached House
BC NORTHERN REAL ESTATE BOARD
|
Community |
March 31, 2021 |
Units |
March 31, 2022 |
Units |
March 31, 2023 |
Units |
|
100 Mile House |
384,849 |
41 |
423,872 |
37 |
441,782 |
23 |
|
Williams Lake |
369,272 |
44 |
416,590 |
40 |
505,900 |
19 |
|
Quesnel |
272,745 |
26 |
352,761 |
24 |
354,195 |
23 |
|
Prince Rupert |
430,162 |
43 |
408,447 |
38 |
501,263 |
18 |
|
Smithers |
385,068 |
22 |
489,250 |
8 |
559,470 |
10 |
|
Fort St. John |
376,884 |
92 |
388,882 |
76 |
408,088 |
52 |
|
Prince George |
450,901 |
227 |
519,997 |
193 |
484,406 |
107 |
|
Terrace |
439,154 |
33 |
482,701 |
41 |
465,944 |
28 |
|
Kitimat |
367,416 |
35 |
375,067 |
33 |
372,978 |
20 |
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.
harts by Community: Active Listings and Average Days on Market and Sales and Average Price
Click on each image to see a larger version of the graph.
BC Northern:
100 Mile House:
Williams Lake:
Quesnel:
Prince Rupert:
Terrace:
Kitimat:
Smithers:
Prince George
Fort St. John:
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For more information about local conditions, contact:
Breanne Cote, Chair (Prince George) 250-564-4488
Kristine Newell, Vice Chair (Prince George) 250-563-1000
Wynnette Lowes, Past Chair (Fort St. John 250-787-2100
Cameron McLeod, Director (Prince George) 250-981-6774
Kristin Houghtaling, Director (Prince George 250-564-4488
Shannon Horrigan, Director (Prince George 250-612-2346
Victor Khong, Director (Horsefly) 250-302-2560
Vanita Des Mazes, Director (Smithers) 250-847-5999
Sheila Love, Director (Terrace) 250-638-1400
Guillaume Fortin, Public Director (Prince George) 250-640-9079
Jason Ryll, Public Director (Williams Lake) 250-267-7955
News Release -January 9, 2023
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The REALTOR® members of the BC Northern Real Estate Board (BCNREB) reported 5001 property sales worth $2 billion in 2022 through the Multiple Listing Service® (MLS®), down from last year’s 6669 sales worth $2.4 billion.
Home sales in the BC Northern region totaled 4,250 units in 2022, a 23 per cent decline from 2021’s near record pace, but on par with the average level of sales activity over the past 10 years. That said, home sales did fade in the second half of the year as interest rates soared. Indeed, by the fourth quarter, home sales across the BC Northern area were trending at just a 3,300 annual sale pace, setting up what should be a slow start to 2023.
Active listings in the region started the year at record low and slowly grew through 2022 as home sales slowed and listings remained on the market longer. As a result, markets around the north returned to balance as months-of-inventory normalized from the deep sellers’ market conditions that had prevailed for much of the last two years.
The abrupt shift in market conditions spurred by rapidly rising interest rates has translated into a softening of prices from peak levels achieved earlier in the year. By the end of 2022, the average price in the BC Northern Board area was essentially flat when comparing the fourth quarter of 2022 to the fourth quarter of 2021.
With mortgage rates expected to remain elevated, and a likely slowdown in the economy on the horizon, housing market activity across the north will remain slow in 2023. BCREA is forecasting that home sales will decline 9 per cent in 2023 to 3,900 units. Slower sales and rising inventory will precipitate a slight decline in home prices, with the average price in the region slipping about 1 per cent over the next year.
By Region
Cariboo Region
100 Mile House: 480 properties worth $200 million sold this year through MLS®, compared with 798 properties worth $268.5 million in 2021. The 147 single-family homes that sold in 2022 had a median value (half sold for less) of $474,900. In addition, 135 parcels of vacant land, 116 homes on acreage, 37 manufactured homes on land, 11 manufactured homes in parks, and 16 recreational properties changed hands in 2022. At the end of December, there were 202 properties of all types available for sale through MLS® in the 100 Mile House area, up from the 83 properties at the end of 2021.
Williams Lake: 438 sales worth $169.6 million were reported through MLS® in 2022, down from 599 sales worth $196.7 million the previous year. Half of the 150 single-family homes sold in 2022 sold for less than $435,000. 30 parcels of vacant land, 107 homes on acreage, 34 townhouses, 35 manufactured homes in parks and 43 manufactured homes on land were also sold in 2022. At the end of December, there were 157 properties of all types available through MLS® in the Williams Lake area, up from the 58 properties at the same time last year.
Quesnel: 381 properties changed hands in 2022 through MLS®, down from 478 that were sold in 2021. The value of these properties was $123.3 million ($136.9 million in 2021). The median value of the 129 single-family homes sold in 2022 was $380,000. In addition, 68 parcels of vacant land, 85 homes on acreage, 29 manufactured homes in parks and a further 33 on land were reported sold in 2022. At year-end, there were 149 properties of all types available for purchase through MLS® in the Quesnel area, up from 36 properties at the end of 2021.
Northwest Region
Iskut/Atlin: This is a new major area added to the statistics. These statistics used to be a part of the Terrace area statistics. 3 properties worth $1.3 million have changed hands in 2022; compared to 5 properties worth $1 million in 2021. As of December 31st, there were 5 properties of all types available through the MLS® in the Iskut/Atlin area.
Hazelton/Highway 37: This is a new major area added to the statistics. These statistics used to be a part of the Smithers and Area statistics.39 properties worth $10.7 million have changed hands in 2022; compared to 39 properties worth $10.3 million in 2021. As of December 31st, there were 23 properties of all types available through the MLS® in the Hazelton/Highway 37 area.
Prince Rupert: 190 properties worth $82.8 million changed hands in 2022 compared with 279 properties worth $107.6 million in 2021. Half of the 134 single-family homes sold in 2022 sold for less than $425,000. In addition, 19 parcels of vacant land, 5 townhouses and 7 half-duplexes sold in 2022. At year-end, there were 122 properties of all types available through MLS® in the Prince Rupert area, up from the 31 properties at the same time last year.
Terrace: 276 properties sold in 2022 were worth $115.3 million compared with 2021’s 395 properties worth $168.8 million. Of the 157 single-family homes that changed hands, half sold for less than $475,000. In addition, 22 parcels of vacant land, 15 homes on acreage, 20 manufactured homes in parks and a further 11 on land sold in 2022. As of December 31st, there were 139 properties of all types available through MLS® in the Terrace area, up from the 62 properties available at December 31st, 2021.
Kitimat: 202 properties worth $72.8 million changed hands in 2022 compared to the 192 properties worth $68.6 million that sold in 2021. The median value of the 143 single-family homes sold in 2022 was $360,000. In addition, 22 half-duplexes and 11 townhouses were sold. At year-end, there were 87 properties of all types available in the Kitimat area, which is up from 44 at December 31st, 2021.
Bulkley Nechako Region
Houston: 74 properties worth $22.1 million changed hands in 2022, compared to the 83 properties worth $18.5 million that sold in 2021. The median value of the 42 single-family homes sold was $292,500. As of December 31st, there were 22 properties of all types available in the Houston area.
Smithers: REALTORS® reported 177 sales worth $85.3 million in 2022, compared to 222 sales worth $85.6 million in 2021. The median value of the 70 single-family homes that sold in 2022, was $490,000. 17 parcels of vacant land, 40 homes on acreage, 18 manufactured homes in parks and a further 11 on land also changed hands in 2022. At year-end, there were 50 properties of all types available in the Smithers area, compared with 29 at December 31st, 2021.
Burns Lake: 69 properties with a value of $18.6 million sold in 2022 compared with 104 worth $31.5 million in 2021. Half of the 17 single-family homes that sold, sold for less than $277,500. 18 parcels of vacant land, 23 homes on acreage and 4 manufactured homes on land also changed hands in 2022. As of December 31st, there were 54 properties of all types available through MLS® in the Burns Lake area, up from 18 at the end of 2021.
Vanderhoof: 102 properties sold in 2022 were worth $32.4 million, compared with 2021’s 182 properties worth $50.1 million. Of the 42 single-family homes that sold in 2022, half sold for less than $293,000. In addition, 21 parcels of vacant land, 20 homes on acreage, 2 manufactured homes in parks and a further 7 manufactured homes on land changed hands in 2022. As of December 31st, there were 50 properties of all types available through MLS® in the Vanderhoof area, compared with 15 properties a year ago.
In Fort St. James 60 properties worth $12.8 million sold in 2022, compared to 102 properties worth $23.3 million in 2021. At year-end, there were 28 properties of all types available through MLS® in the Fort St. James area, compared to 7 at the same time last year.
Northern Region
Fort St. John: 632 properties with a value of $258 million sold in 2022, down from 796 properties worth $309.4 million that sold in 2021. Of the 292 single-family homes sold in 2022, half sold for less than $381,000. In addition, 28 parcels of vacant land, 77 half-duplexes, 54 homes on acreage, 31 manufactured homes in parks and a further 60 on land sold in 2022. At the end of December, there were 420 properties of all types available through MLS® in the Fort St. John area, up from the 193 properties at the end of 2021.
Fort Nelson: 80 properties sold through MLS® in 2022 were worth $13.4 million, down from 2021’s 94 properties worth $19.1 million. Half of the 26 single-family homes sold in 2022, sold for less than $185,000. There were 6 homes on acreage and 1 townhouse also sold in 2022. As of December 31st, there were 109 properties of all types available through MLS® in the Fort Nelson area, up from the 46 properties on December 31st, 2021.
Fraser Fort George Region
Mackenzie: 111 properties worth $19.2 million were reported sold in 2022, compared with 2021’s 112 properties worth $28.4 million. The median value of the 86 single-family homes that sold in 2022 was $174,750. At year-end, there were 51 properties of all types available through MLS® in the Mackenzie area, up slightly from the 48 properties at the same time in 2021.
Prince George: 1323 properties worth $605.9 million sold in 2022, compared with 1653 properties worth $684.1 million in 2021. At year-end, there were 551 properties of all types available through MLS® compared to 165 properties at the end of 2021.
In the area west of the by-pass, half of the 236 single-family homes sold in 2022, sold for less than $460,000. As well, 26 apartment units and 50 townhouses changed hands in 2022. As of December 31st, there were 27 single-family homes available through MLS® in this area of the City, compared to 15 at the same time last year.
East of the by-pass 48 apartment units, 13 half-duplexes, and 37 townhouses sold in 2022. The 177 single-family homes sold had a median value of $410,000. At the end of December there were 39 single-family homes available for sale through MLS® in this area compared with 10 at the end of 2021.
In the northern part of the city, 17 homes on acreage, 35 manufactured homes in parks and a further 40 manufactured homes on land sold in 2022. Of the 182 single-family homes sold, half sold for less than $550,000. As of December 31st, there were 22 single-family homes available through MLS® in this area of the City compared with 6 at the end of 2021.
In the southwest sector 11 half-duplexes, 28 townhouses, 8 homes on acreage, 19 manufactured homes in parks and a further 8 manufactured homes on land sold in 2022. Half of the 225 single-family homes sold in 2022 sold for less than $607,500. At year-end, there were 38 single-family homes available for sale through MLS® in the southwest sector, compared with the 15 at the end of 2021.
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, 2020 |
Units |
December 31, 2021 |
Units |
December 31, 2022 |
Units |
|
100 Mile House |
337,762 |
179 |
412,762 |
180 |
484,712 |
147 |
|
Williams Lake |
335,585 |
153 |
377,430 |
212 |
433,489 |
150 |
|
Quesnel |
288,323 |
148 |
340,943 |
153 |
392,092 |
129 |
|
Prince Rupert |
345,405 |
158 |
426,616 |
183 |
449,769 |
134 |
|
Houston |
219,618 |
21 |
226,830 |
44 |
280,402 |
42 |
|
Smithers |
371,032 |
96 |
435,787 |
88 |
512,228 |
70 |
|
Burns Lake |
198,158 |
25 |
240,957 |
26 |
269,117 |
17 |
|
Vanderhoof |
222,560 |
60 |
269,723 |
64 |
298,289 |
42 |
|
Fort St. James |
200,705 |
27 |
247,382 |
34 |
309,947 |
19 |
|
Fort St. John |
373,081 |
271 |
396,353 |
403 |
411,380 |
292 |
|
Fort Nelson |
136,756 |
31 |
206,791 |
35 |
192,218 |
26 |
|
Mackenzie |
168,578 |
33 |
177,635 |
78 |
183,404 |
86 |
|
Prince George |
406,943 |
858 |
458,560 |
1079 |
524,639 |
820 |
|
Terrace |
400,539 |
163 |
475,280 |
204 |
489,882 |
157 |
|
Kitimat |
342,854 |
118 |
388,399 |
115 |
379,132 |
143 |
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.
Charts by Community: Active Listings and Average Days on Market and Sales and Average Price
Click on each image to see a larger version of the graph.
BC Northern:
100 Mile House:
Williams Lake:
Quesnel:
Prince Rupert:
Terrace:
Kitimat:
Smithers:
Prince George:
Fort St. John:
-30-
For more information about local conditions, contact:
Wynnette Lowes, President (Fort St. John) 250-787-2100
Breanne Cote, Vice President (Prince George) 250-564-4488
Kristine Newell, Director (Prince George) 250-563-1000
Garnet Weston, Director (Prince George) 250-563-1000
Cameron McLeod, Director (Prince George) 250-981-6774
Sheila Love, Director (Terrace) 250-638-1400
Christine Buemann, Public Director (Prince George) 250-612-9140
Dean Simpson, Public Director (Prince George) 778-349-9975
Historical News Releases
2022 Third Quarter News Release
2022 Second Quarter News Release
2022 President and Director News Release
2022 First Quarter News Release
2021 Third Quarter News Release
2021 Second Quarter News Release
2021 President and Director News Release
2021 First Quarter News Release
November 2020 Open House News Release
2020 Third Quarter News Release
2020 Second Quarter News Release
2020 First Quarter News Release
2019 Second Quarter News Release
2019 First Quarter News Release
2018 Third Quarter News Release
2018 Second Quarter News Release
2018 First Quarter News Release