Single-family homes typically sold for upwards of $15,000 more than they did during the same period last year, according to first-quarter B.C. Northern Real Estate Board numbers released Thursday.
The average price was $309,028, compared to $293,577 - a $15,451 or 5.3-per-cent increase. At 186, the total sold rose by just one but total activity amounted to $57.5 million, a $3.2-million climb.
"This year, I see this market as just chugging along," said BCNREB director Bob Quinlan.
He also described it as a sellers' market - depending on what's up for sale.
"It is segregated in that right now, if you've got an existing home which is 20 or 30 years old ranging from $200,000 to $350,000, it is going to go if it is priced reasonably," he said.
"But when you start getting into the $400,000-plus and the new homes, they sit there forever so there are two distinct area of the market."
A mortgage broker, Quinlan noted that federal Finance Minister Bill Morneau has talked about maintaining the current interest rates because of uncertainty in the United States and said he's also noted some lenders starting to drop rates too.
"I said with the support of increased mine exploration and increase gas exploration and such like that, we've got a lot of support for keeping our values solid," he also said.
Looking at properties of all types, 298 change hands for an accumulated total of $90.8 from January to March this year, up from 281 properties and $76.3 million.
In the west part of the city the median price of the 53 single-family homes sold on was $265,000, up from $260,000.
East of the bypass, the 32 single-family homes that sold had a median value of $212,000, down slightly from $215,000.
North of the Nechako, 50 single-family homes sold with a median price of $289,900, up slightly from $289,000.
In the southwest, 49 homes have sold with a median price of $399,000, up noticeably from $312,000.
At the end of March there were 547 properties of all types available on the Multiple Listing Service within the city limits, down from 600 at the same point last year.
