The BC Northern Real Estate Board reports a strong year for the housing market, with 4,667 properties sold in 2024, totaling $1.9 billion in sales. This is an increase over last year’s 4,229 sales valued at $1.7 billion. Market activity in the fourth quarter rose, with a 23% year-over-year jump in sales, signaling continued strength across the region.
However, inventory remains low, with active listings down 25% compared to long-term healthy levels.
In Williams Lake, 423 properties were sold for $184 million, showing strong growth compared to 2023.
In Quesnel, sales remained steady, with 313 properties changing hands, while prices in the area saw a slight increase.
The Iskut/Atlin area, however, saw fewer transactions in 2024, with just three properties sold.
The Hazelton/Highway 37 region also experienced a dip in sales, down to 20 properties.
Other regions like Prince Rupert, Terrace, and Kitimat saw increased market activity.
Prince Rupert had 166 sales, with a median price of $450,000 for single-family homes.
Terrace’s housing market stayed robust with 274 properties sold, while Kitimat remained stable, with prices holding steady despite similar sales figures to 2023.
In Houston, Smithers, and Burns Lake, property sales increased, with Smithers showing a slight uptick in the median sale price.
Burns Lake saw more homes sell for higher prices, while Houston’s median price remained lower at $246,960.
Fort St. James saw notable growth with 54 properties sold in 2024, a significant rise from 2023.
Fort St. John’s market remained strong with 648 properties sold, while Fort Nelson faced a decline in sales, with just 57 properties changing hands.
Looking ahead to 2025, the Board expects continued momentum as lower borrowing costs could encourage more buyers to enter the market.
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