The city's real estate market remains on the upswing, according to a B.C. Northern Real Estate quarterly report released Friday.
In all, 515 single-family homes have exchanged hands so far this year for an average price of $311,850. That's up on both fronts from the same point last year, when 484 went for an average $300,903.
The count by halfway through 2015 was 486 sold for $282,354 on average.
"Prince George seems to be slugging along," BCNREB director Bob Quinlan said.
He said the strength is the home with three bedrooms, two bathrooms and a full basement in the $275,000-$300,000 range.
"You're seeing people moving into those for their second house for their family or you're seeing some boomers downsizing from the rural areas," Quinlan said.
Conversely, Quinlan said he's noticed families moving out of the city to larger homes on bigger properties in the rural areas.
Rental homes also appear to be drawing interest from buyers based in the Lower Mainland, he said.
"We're seeing investors who have cashed in down there and they can get into say a duplex here for $100,000 or $75,000 and it'll cash flow them, it'll give them a return whereas down in Vancouver they got to have $800,000 in equity into a rental property," Quinlan said.
Interest rates are expected to rise marginally next week. Quinlan expects more hikes to follow but over a long period.
"It's not like it's just going to start taking off and rolling uphill," Quinlan said.
Looking at properties of all types, 817 worth $234.9 million in total have changed hands so far this year, compared with 754 properties worth $211 million in the first six months of last year.
In the western part of the city, the median price of the 141 single family homes sold through the Multiple Listing Service was $279,900.
East of Central, the 100 single family homes were sold and the median price was $225,000.
In the northern part, 124 single family homes were sold and the median price was $315,000.
In the southwest, 143 single family homes were sold and the median price was $392,000.
At the end of June there were 632 properties of all types available for purchase through the MLS.
