BC Northern Real Estate Board reports slight dip in home sales in August

As the last of the summer days came to an end, closing the deal on real estate across Northern British Columbia became a little bit harder to wrap up, with statistics from the BC Northern Real Estate Board showing a slight dip in home sales through the month of August.

According to the report, 383 homes were sold through the MLS system across Northern BC in August, making for a decline of 12.6% from August of 2016.

John Evans the President of the Northern Board noted that one of the factors contributing to the statistical review is the ongoing wildfire situation in the Cariboo region which makes up part of the Northern BC territory.

“Home sales remained at more moderate levels in August compared to a few months ago, which was not unexpected given the ongoing wildfire situation in many parts of the Cariboo region,” said John Evans, President of the BC Northern Real Estate Board. “While the market is well-balanced overall, it has tightened a little over the last year and the average price is heading higher.”

According to the Board, the average price of homes sold in August was $288,175, which is up 8.8% from August of 2016, though they caution that the results take in home sales stretching from Haida Gwaii to Prince George and the Cariboo region, as well as to the North of Prince George.

The findings from August for the entire coverage area noted that that the dollar value of all home sales for the month was 110.4 million dollars, falling 4.9 per cent from the values found for the same month in 2016.

As of the end of August, there were  679 new listings on the Board's MLS System across Northern British Columbia, a 1.3 per cent decline on a year to year basis.

More notes from the BC Northern Real Estate Board can be reviewed here.

A slide show report on recent stats can be found here.

The next quarterly breakdown of sales for each region of the BC Northern Board territory will come up in October, you can view the most recent findings from July from our blog item here.

You can get a snapshot of what is for sale in the Prince Rupert market every Monday morning, with our Real Estate Tracker feature, it highlights the ten top end residential properties each week.

Further notes related to housing in the Northwest can be found here.