The average sale price for a single-family home in Prince George is expected to average $280,000 for the year, Canada Mortgage and Housing Corporation is predicting in its latest forecast. The amount represents a 3.1-per-cent increase over the average of $271,581 seen in 2014. CMHC is also predicting a further 3.6-per-cent increase in 2016, to $290,000.
However, the agency is also predicting the number of sales will decline by 1.9 per cent to 1,260 over the course of 2015 from 1,285 last year, but then rebound to 1,300 in 2016, a 3.2-per-cent hike over the year before. As of the end of March this year, the average stood at $275,914, a 2.5-per-cent increase over $269,055 recorded for the same period in 2014. And sales stood at 221, nine fewer than by the same point last year.
