Board News Releases

News Release -September 15, 2023

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The BC Northern Real Estate Board has donated $3,000 to the Red Cross' "BC Fire Relief Fund" to support those affected by wildfires.

British Columbia is currently experiencing its most devastating wildfire season on record, and the threat persists as we move into the fall. Over 11,000 individuals have had their lives disrupted by evacuation, and many more continue to live with the ongoing stress of evacuation alerts. An estimated 400 structures have been lost to the fires, leaving communities facing the task of recovery.

"Our hearts go out to the resilient people in the Okanagan and across BC who have been affected by evacuations and loss," states Breanne Cote, Chair of the BC Northern Real Estate Board. "We know from experience of past wildfires that the journey of reconstruction will pose challenges, yet it is achievable with support."

For those interested in contributing to the British Columbia Fires Appeal to assist in the ongoing recovery efforts, donations can be made through this link.

BC Northern Real Estate Board Information

The 414 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 414 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:

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)                                              250-620-3440
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 -July 11, 2023

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The BC Northern Real Estate Board (BCNREB) reports 2033 properties sold through the Multiple Listing Service® (MLS®) in the first six months of 2023, down from the 2920 sales reported in the first half of 2022. The value of these properties was $830 million compared with $1.2 billion in 2022. At the end of June, there were 3551 properties of all types available for purchase through the MLS® of BCNREB, up from 1349 at the same time last year.

Home sales in the BC Northern region jumped to 931 units on a seasonally adjusted basis in the second quarter of 2023, ending the downward trend that began with the start of rate hikes in Q1 of 2022. Seasonally adjusted unit sales were up 14 per cent from Q1, but are still roughly 13 per cent below the 10-year average level of sales for the region. Active listings in the North were essentially unchanged from the previous quarter at 1,714 on a seasonally adjusted basis. Prices, meanwhile, rose 11 per cent to $420,082 in the first quarter of the year, but were still down from a peak of roughly 431,500 in Q2 of 2022. Meanwhile, seasonally adjusted average days on market rose 7 per cent from the prior quarter to about 77.

After declining since the start of 2022, the BC Northern housing market rebounded in Q2 of 2023. Sales rose, while the average sale price rose in all three months of the second quarter. At the same time, average days on market continued to trend upwards and active listings trended sideways. The strong second quarter in the North coincided with a rebound in most other markets across the province as well. Despite this recovery, there is the possibility of a softer summer, as rates are likely to remain high and continue sapping demand. The long-predicted economic slowdown of 2023 has so far failed to materialize, but we expect a softening in the broader economy in the second half of the year, which could further weigh on housing markets.

By Region:

Cariboo Region:

100 Mile House: 167 properties worth $68 million have changed hands through the MLS® in the area since January 1^st. This compares with 299 properties worth $130 million in the same period in 2022. Half of the 62 homes that sold so far this year, sold for $449,500 or less and, on average, it took 83 days for these homes to sell. Also reported sold were 39 parcels of vacant land, 40 homes on acreage, 7 manufactured homes in parks, 12 manufactured homes on land, and 3 recreational properties. At the end of June there were 378 properties of all types available for purchase through the MLS® in the 100 Mile House area.

Williams Lake: 162 properties have sold so far this year, compared to 234 properties by June 30, 2022. The value of these properties is $56.4 million ($91.7 million in 2022). Of the 59 single-family homes sold this year, half sold for less than $445,000 and these homes took, on average, 58 days to sell. In addition, 17 parcels of vacant land, 11 townhouses, 31 homes on acreage, 17 manufactured homes in parks and 13 manufactured homes on land changed hands in the first six months of 2023. At the end of June there were 245 properties of all types available for purchase through the MLS® in the Williams Lake area.

Quesnel: In the Quesnel area, REALTORS® reported 140 sales worth $47.4 million so far this year, compared to 206 sales worth $64.4 million in the first six months of 2022. Of the 63 single-family homes sold between January and June, half sold for less than $375,000; these homes took, on average, 66 days to sell. In addition, 14 parcels of vacant land, 26 homes on acreage, 13 manufactured homes in parks and 15 manufactured homes on land have sold in the first six months of 2023. As of June 30^th, there were 274 properties of all types available for purchase through the MLS® in the Quesnel area.

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. 5 properties worth $1.2 million have changed hands so far this year in the Iskut/Atlin area, compared to 3 properties worth $1.3 million in 2022. As of June 30^th, there were 11 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. 11 properties worth $2.9 million have changed hands so far this year in the Hazelton/Highway 37 area, compared to 16 properties worth $4.3 million in 2022. As of June 30^th, there were 36 properties of all types available through the MLS® in the Hazelton/Highway 37 area.

Prince Rupert: 79 properties worth $30.7 million have been reported sold through the MLS® in the Prince Rupert area so far this year, compared to 115 properties worth $52.4 million in the first half of 2022. The median price of the 47 single-family homes that sold was $437,500. On average, it took these homes 88 days to sell. As of June 30^th, there were 166 properties of all types available for purchase through the MLS® in the area.

Terrace: REALTORS® in the Terrace area sold 147 properties worth $64.6 million in the first six months of 2023, compared to 172 properties worth $70.4 million in the same period last year. Half of the 85 single-family homes that sold, sold for less than $500,000. On average, it took these homes 64 days to sell. In addition, 9 parcels of vacant land, 5 half-duplexes, and 11 homes on acreage changed hands in the first 6 months of the year. At the end of June there were 192 properties of all types available for purchase through the MLS® in the Terrace area.

Kitimat: 92 properties worth $54.2 million have sold through the MLS® in the Kitimat area in the first six months of 2023, compared to 104 properties worth $36 million at this time last year. Half of the 58 single-family homes sold so far this year sold for less than $372,000 and, on average, it took these homes 83 days to sell. At the end of June there were 93 properties of all types available for purchase through the MLS® in the Kitimat area.

Bulkley Nechako Region:

Houston: 23 properties worth $5.9 million have changed hands so far this year, compared to 35 properties worth $8.5 million in 2022. As of June 30^th, there were 39 properties of all types available through the MLS® in the Houston area.

Smithers: REALTORS® in the Smithers area reported 72 sales with a value of $34 million in the first six months of 2023, compared to 90 sales worth $46 million at this time last year. Half of the 38 single-family homes sold so far this year sold for less than $500,000 and took, on average, 62 days to sell. 5 parcels of vacant land and 13 homes on acreage also changed hands since January 1^st. As of June 30^th, there were 93 properties of all types available through MLS® in the Smithers area.

Burns Lake: In the first six months of 2023, 23 properties worth $6.4 million were reported sold through the MLS® in the Burns Lake area, compared to 44 properties worth $12.2 million in the same time-period last year. At the end of June there were 63 properties of all types available for purchase through the MLS® in the Burns Lake area.

Vanderhoof: REALTORS® in the Vanderhoof area reported 48 sales worth $21.3 million in the first six months of the year, compared to 50 sales worth $17.7 million to June 30, 2022. As of June 30^th, there were 98 properties of all types available for purchase through the MLS® in the Vanderhoof area.

Fort St. James: 15 properties worth $3.3 million have sold through the MLS® in the Fort St. James area so far this year, compared with 36 properties worth $7.6 million in the first six months of 2022. At the end of June there were 45 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 295 properties worth $118 million in the first half of 2023, compared to 361 properties worth $148.2 million in the first six months of 2022. The 137 single-family homes which sold so far this year had a median selling price of $389,400 and it took, on average, 79 days for these homes to sell. In addition, 10 parcels of vacant land, 32 half-duplexes, 28 homes on acreage, 13 manufactured homes in parks and 27 manufactured homes on land changed hands so far this year. As of June 30^th, there were 570 properties of all types available for purchase through the MLS® in the Fort St. John area.

Fort Nelson: 42 properties worth $5.6 million have sold since January 1^st, compared to 49 properties worth $9.2 million in the same period last year. Half of the 16 single-family homes sold since January sold for less than $106,500. These homes took, on average, 119 days to sell. At the end of June, there were 104 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 2023, 24 properties worth $5.2 million were reported sold through the MLS® in the Mackenzie area, compared to 74 properties worth $12.5 million to June 30, 2022. Half of the 18 single-family homes sold so far this year sold for less than $192,500 and took, on average, 100 days to sell. As of June 30^th, there were 86 properties of all types available for purchase through the MLS® in the Mackenzie area.

Prince George: In the City of Prince George, 542 properties worth $252.5 million have changed hands so far this year, compared with 803 properties worth $369.7 million in the first six months of last year. In the western part of the city, the median price of the 111 single-family homes that have sold through MLS® was $455,000. In the area east of the bypass, the 67 single-family homes that sold had a median price of $375,000. In the northern part of the city 61 single-family homes sold with a median price of $520,000. The 91 single-family homes that sold in the southwest section of the city had a median sale price of $570,000. At the end of June there were 704 properties of all types available for purchase through the MLS® in the City of Prince George.

The 412 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 412 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	June 30, 2021	Units	June 30, 2022	Units	June 30, 2023	Units
100 Mile House	387,343	101	484,309	85	479,419	62
Williams Lake	372,637	124	434,122	83	470,571	59
Quesnel	319,970	81	395,779	61	395,719	63
Prince Rupert	409,474	104	467,929	79	444,444	47
Houston	252,469	28	258,169	18	205,650	6
Smithers	379,481	55	570,040	35	533,852	38
Burns Lake	162,095	21	300,049	10	340,388	9
Vanderhoof	238,969	33	297,263	18	320,369	18
Fort St. James	255,178	14	310,491	12	243,125	8
Fort St. John	384,738	217	418,185	177	420,567	137
Fort Nelson	216,953	16	209,963	16	116,853	16
Mackenzie	180,225	38	177,560	58	188,755	18
Prince George	455,842	566	530,900	479	500,925	330
Terrace	463,282	112	494,989	93	512,826	85
Kitimat	379,559	74	375,517	69	379,887	58

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:

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For more information about local conditions, contact:

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 31^st, 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 31^st, 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 31^st, 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 31^st, 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 31^st, 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 1^st. As of March 31^st, 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 31^st, 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 1^st. 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 31^st, 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 1^st 10 (39) properties worth $2 million ($6.4 million) have changed hands. As of March 31^st, 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.

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:

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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 31^st, there were 139 properties of all types available through MLS® in the Terrace area, up from the 62 properties available at December 31^st, 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 31^st, 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 31^st, 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 31^st, 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 31^st, 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 31^st, 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 31^st, there were 109 properties of all types available through MLS® in the Fort Nelson area, up from the 46 properties on December 31^st, 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 31^st, 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 31^st, 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

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:

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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