The city's market for single-family homes is continuing to see steady increases in both the average price and the number sold, according to the latest numbers from the B.C. Northern Real Estate Board.
As of the end of September, 767 homes have sold for an average of $282,986. That's 12 more sold than by the same point last year, while the average price is $9,665 higher.
It was a similar story in several other communities in the BCNREB's region as Quesnel, Prince Rupert, Smithers, Burns Lake, Fort St. John and Fort Nelson all saw increases in both average price and the number of sales.
Vanderhoof and Terrace also saw increases in average prices although sales were down, while 100 Mile House, Williams Lake, Houston, Fort St. James and Kitimat struggled on both fronts.
"Given the slump in energy prices and overall economic lull, it is reassuring to see the overall numbers for the BCNREB are holding strong," BCNREB vice-president William Lacy said.
"Certain areas have been hit harder, but other areas are showing increases in prices and overall activity to create for a balanced result through the third quarter of the year.
"With predicted increases in global activity, and growth predicted for B.C. in the coming quarters, we are looking for a solid close to the year and for increases to resume throughout next year.
"Also, with potential boosts to the northern markets via large energy projects, this may be an opportunity to take advantage before the next upswing in the market."
Looking at property of all types, 1,127 properties worth
$291.7 million changed hands in Prince George so far this year, compared with 1,157 properties worth $281.6 million by the end of September last year.
In the western part of the city, the median price of the 226 homes sold this year was $249,900.
In the area east of Central Street, the 151 single family homes that sold had a median price of $210,000.
In the northern part, the 165 single family homes sold had a median price of $290,000.
In the southwest, the median price of the 212 single family homes sold was $345,000.
At the end of September, there were 701 properties of all types available for purchase through the Multiple Listing Service in Prince George.
