House sales here through the Multiple Listing Service dropped in the first three months of this year but the average sales price increased, reports the B.C. Northern Real Estate Board.
Five single family homes sold from January to March compared to 11 for the same three-month period in 2021.
But the average sales price did rise, from $248,634 in the first three months of 2021 to $282,080 in the first three months of this year.
Also rising was the median price, from $230,000 to $322,000. The median is the midpoint where half of the sales were for more than the figure and half were less.
When total number of properties of various kinds are taken into account, there were 16 sales in the first three months of 2021 and nine this January to March.
Single family home sales within northern B.C. also dropped from the first quarter of last year when there were 1,526 sales to the first quarter of this year when there were 1,041 sales.
But the real estate board said sales figures, in comparison to past years throughout the north, remain strong.
“Residential prices are up roughly 31 per cent since the start of the pandemic and in the latest quarter surpassed $400,000 for the first time, hitting $409,826,” indicated the board in its first quarter of 2022 report.
In Burns Lake, 18 properties worth $3.8 million changed hands in the first quarter of this year, down from the 26 properties worth $4.6 million that sold for the first three months of 2021.
Smithers recorded 32 property sales worth $14.9 million from January to March of this year, a decline from the equivalent 2021 period when there were 67 sales carrying a value of $21.2 million.
Of those Smithers properties, nine were single family homes with an average sales price of $480,444, a significant jump over the average sales price of $385,068 for the 22 single family homes that sold for the January to March period in 2021.
Prince George had the highest average sales price at $519,979 in the north for the first three quarters of this year with Terrace second at $482,701.
Smithers: REALTORS® in the Smithers area reported 32 (67) sales with a value of $14.9 million ($21.2 million) to March 31, 2022. In addition to the 9 single-family homes that sold, 6 homes on acreage, and 6 manufactured homes in parks changed hands this year. At the end of the first quarter there were 51 (48) properties of all types available for purchase through the MLS® in the Smithers area.
Burns Lake: 18 (26) properties worth $3.8 million ($4.6 million) have changed hands since Jan. 1. At the end of March there were 30 (31) properties of all types available for sale through the MLS® in the Burns Lake area.
Vanderhoof: REALTORS® in the Vanderhoof area reported 13 (31) sales worth $3.9 million ($9 million) in the first quarter of 2022. At the end of March there were 32 (28) properties available for purchase through the MLS® in the Vanderhoof area.
Fort St. James: In the first quarter of 2022 there were 14 (17) sales worth $3.7 million ($3 million) in the Fort St. James area. As of March 31, there were 14 (27) properties available on the MLS® in the area.