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Average house price exceeds $450,000

Single-family homes sold for $450,901 on average in Prince George during the first quarter of 2021, according to figures issued Thursday by the B.C. Northern Real Estate Board.

Single-family homes sold for $450,901 on average in Prince George during the first quarter of 2021, according to figures issued Thursday by the B.C. Northern Real Estate Board.

The amount represents a $67,258 jump over the average sale price for the same period last year.

As well, sales nearly doubled to 227 from 129.

The BCNREB recorded similar outcomes for most of the communities in its territory. 

"With the supply of listings near record lows and sales at a record high, home prices continue to rise at an accelerated rate," BCNREB president Shawna Kinsley said in a press release. 

Looking at properties of all types in Prince George, 380 exchanged hands for a total $156 million, compared to 221 sales for $73.3 million during the first quarter of 2020.

In the western part of the city, the median price of the 70 single-family homes that have 

sold was $410,000 compared to $346,000 last year.

East of the by-pass, the 38 single-family homes that sold had a median value of $325,000, up from $272,500. 

In the Hart, 54 single-family homes sold with a median price of $420,000, compared to $401,250. 

In the southwest 64 homes have sold since January with a median price of $510,000, up from  $453,500. 

At the end of March there were 389, properties of all types available on the Mulitple Listing Service within the city limits, down from 509 at the same point last year.