The number of homes sold through the MLS® System of the BC Northern Real Estate Board totaled 173 units in January 2025. This was up by 7.5% (12 sales) from January 2024.
Home sales were 14.6% below the five-year average and 12.7% below the 10-year average for the month of January.
“Home sales were up to start the year, albeit modestly, while sellers were back out in full force, hoping to capitalize on any rebound in buyer activity,” said Kristine Newell, Chair of the BC Northern Real Estate Board. “It may be the case that buyers are acting cautiously at the moment while the threat of a trade war looms. The BCREA has forecast sales of 4,200 units in our region for this year, but that is contingent on avoiding tariffs on both sides of the border. At the time of this writing, those tariffs have been pushed back to early March but it remains to be seen what will happen at that time.”
The average price of homes sold in January 2025 was $396,187, a small gain of 3.4% from January 2024.
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 January 2025 was $68.5 million, a gain of 11.1% from the same month in 2024.
The number of new listings was up by 16.2% from January 2024. There were 417 new residential listings in January 2025. This was the largest number of new listings added in the month of January in more than five years.
New listings were 7.6% above the five-year average and 1.7% above the 10-year average for the month of January.
Active residential listings numbered 1,280 units on the market at the end of January, a minor decrease of 1.6% from the end of January 2024.
Active listings were 6.9% above the five-year average and 15.4% below the 10-year average for the month of January.
Months of inventory numbered 7.4 at the end of January 2025, down from the 8.1 months recorded at the end of January 2024 and below the long-run average of 8 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.
