Real estate sales through the Multiple Listing Service in Houston and area declined in the first three months of this year compared to the same period in 2022, indicate latest figures from the B.C. Northern Real Estate Board.
Two single family homes sold from January to March at an average price of $110,000 whereas five single family homes sold from January to March in 2022 and 11 sold for the same three-month period in 2021.
Six properties sold in all for the first three months of this year at a combined value of $1.8 million.
The decline in home sales did not just take place in Houston and area with the real estate board reporting a drop throughout the north.
Mortgage rates remain high compared to the past years, the board noted.
“Home sales in the B.C. 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,” a real estate board release indicated.
Just over 1,250 home sales took place in the first quarter of 2022, the board added.
And specific to Houston and area, Canfor announced the end of January that it was closing its mill.
In Burns Lake, 11 properties sold in the first quarter of this year at a combined value of $3 million, down from the 20 properties at $5 million that sold from January to March 2022.
Smithers real estate agents reported 24 sales of all types from January to March this year, down from 30 sales for the same period in 2022.
Of those sales, 10 were single family homes, six were homes on acreage and two were manufactured homes in parks. Average sale prices of single family homes in Smithers rose from $489,250 to $559,470.
The 10 single family homes that sold in the Smithers area for the first three months of 2023 were two more than what sold for the same period in 2022, making Smithers the only area of nine listed that did record an increase in sales.