The number of homes sold through the MLS® System of the BC Northern Real Estate Board totaled 174 units in December 2024. This was up by 8.7% (14 sales) from December 2023.
Home sales were 16.2% below the five-year average and 15.2% below the 10-year average for the month of December.
On an annual basis, home sales totaled 4,015 units over the course of 2024. This was an increase of 10.2% from 2023.
“Sales activity marked a steady improvement over the course of 2024, pushing activity for the year above totals from 2023 and setting up good momentum heading into the New Year,” said Kristine Newell, Chair of the BC Northern Real Estate Board. “With new and active listings both declining slowly throughout the year the market balance also gradually tightened. We are now much closer to a seller’s market than we were before, with stronger price gains posted in the last two months of 2024 an indication that things may already be heating up.”
The average price of homes sold in December 2024 was $429,061, a sizable gain of 10.6% from December 2023.
The more comprehensive annual average price was $426,364, increasing by 3.6% from all of 2023.
The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available over a vast geographic area (the Board serves an area covering over 600,000 square kilometers or 72% of the province).
The dollar value of all home sales in December 2024 was $74.7 million, a gain of 20.3% from the same month in 2023.
The number of new listings was up by 5.9% (10 listings) from December 2023. There were 180 new residential listings in December 2024.
New listings were 3.9% below the five-year average and 8.9% below the 10-year average for the month of December.
Active residential listings numbered 1,188 units on the market at the end of December, a decrease of 9.6% from the end of December 2023.
Active listings were 1.4% above the five-year average and 18.7% below the 10-year average for the month of December.
Months of inventory numbered 6.8 at the end of December 2024, down from the 8.2 months recorded at the end of December 2023 and below the long-run average of 7.5 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The BC Northern Real Estate Board is an association of over 410 REALTORS® that provides services to and sets standards for members.
The BC Northern Real Estate Board covers the northern part of British Columbia, including Bulkley Nechako, Cariboo, Fraser Fort George, Peace River/Fort Nelson, and Skeena/North Coast.
