House prices up, sales down BCNREB numbers show
Single-family homes sold for $355,639 on average during the first three months of the year, according to B.C. Northern Real Estate Board numbers released Wednesday.
That amounts to an $46,411 or 15 per cent increase over the reigning price for the same period last year.
The jump was offset by a decline in the number of homes sold.
That stood at 171, or 15 fewer than for the same point last year.
Total market activity worked out to $60.8 million, up $3.3 million.
The number of sales was "negatively affected by the longer winter, but is expected to pick up in the spring," BCNREB said in a statement.
Looking at properties of all types, 267 worth $82.2 million exchanged hands, down from 298 properties and $90.8 million for the first quarter of 2017.
In the western part of the city, the median price of the 48 single-family homes that have sold on the Multiple Listing Service was $299,000, compared to 53 homes and $265,000.
In the area east of the bypass, the 34 single-family homes that sold had a median value of $247,000, compared to 32 homes and $212,000.
North of the Nechako River, 29 single-family homes sold with a median price of $360,000, compared to 50 homes and $289,900.
In the southwest, 58 homes have sold since January with a median price of $420,000, compared to 49 homes and $399,000.
At the end of March, there were 524 properties of all types available on the Multiple Listing Service within the city limits, down from 547 by the same point last year.
The full report is posted with this story at pgcitizen.ca.