Single-family homes sold for an average $212,631 in northern B.C., according to an update from the B.C. Real Estate Association.
The total represents a $15,064 drop from the month before, but is $1,481 higher than the average for July 2009. However, once units sold is accounted for, the dollar volume added up to $86.1 million on 405 sales last month, down from $90.6 million on 429 sales over the same month last year.
The sales to active listings ratio stood at 12.4 per cent, based on 3,277 listings, compared to 14.2 per cent on 3,026 listings in July 2009.
The ratio indicates a buyers market remains in place. As a rule of thumb, supply equals demand when the ratio is 15 to 20 per cent.
