Real estate sales drop compared to 2019

But average selling prices increased

Real estate

Real estate sales in both Houston and Burns Lake declined in the first nine months of this year compared to the same time period in 2019.

To the end of September, 22 properties sold in the Houston area through the Multiple Listing Service (MLS) at a value of $4.7 million compared to 46 properties worth $9.4 million selling to the end of September 2019.

In Burns Lake, 54 properties worth $10.5 million sold for the first nine months of this year compared to 69 properties worth $11.7 million selling from January to September 2019.

The average selling price of a single-family home in Houston did increase, however, from $186,382 at the end of September 2019 to $221,199 at the end of this September.

Much the same took place in Burns Lake with the average selling price of $367,311 increasing to $189,971 from the end of September 2019 to the end of Sept. 2020.

The sales situation in Smithers was different with more properties selling at a greater combined value to the end of September compared to the same time period in 2019.

There were 118 properties sold worth $62 million to the end of September this year in contrast to the 175 properties selling for $51.9 million in the first nine months of 2019.

Average selling prices for single family homes also rose — from $302,006 in 2019 to $363,743 this year.

These real estate sales figures through the MLS come as the BC Northern Real Estate Board reports a rebound in sales across the region from the spring when the COVID-19 pandemic all but ground sales to a halt.

The sales rebound into the summer and early fall matched activity within northern B.C., said board president Shawna Kinsley in a release.

“Much of the increase was driven by pent-up demand from sales that did not occur during the spring due to containment measures [from the pandemic] and record-low mortgage rates.”

“Government support and mortgage deferral programs also helped to prevent financially vulnerable households from being forced to sell,” she said.

Kinsley did note that active listings generally fell across the north and so with fewer homes on the market, sales prices crept up.