Single-family homes sold for $406,943 on average in Prince George over the course of 2020, according to year-end figures issued Monday by the B.C. Northern Real Estate Board.
The amount represents a $35,500 or 9.6-per-cent increase over the $371,443 average sale price for 2020. Sales declined to 858 from 922 in 2019, but the total value of the sales for 2020 stood at $349.2 million, up $6.7 million or 1.9 per cent from the year before.
“MLS (Multiple Listing Service) home sales in 2020 made an exceptional recovery from the pandemic-induced pullback during the first half of the year”, BCNREB president Shawna Kinsley said in a statement.
"The surge in sales in the second half of 2020 was aided by pent-up demand from spring sales that were put on hold, record-low mortgage rates, and historically high savings rates that likely fast-tracked down payments."
Looking at properties of all types, 1,361 properties worth $500 million sold in 2020, compared with 1,417 properties worth $491.7 million in 2019.
At year-end, there were 306 properties of all types available through MLS compared to 429 properties at the end of 2019. In the area west of the by-pass, half of the 246 single-family homes sold in 2020, sold for less than $364,500. As well, 24 apartment units and 42 townhouses changed hands in 2020.
As of December 31, there were 14 single-family homes available through MLS® in this area of the city, compared to 22 at the same time last year.
East of the by-pass 37 apartment units, 26 half-duplexes, and 26 townhouses sold in 2020. The 170 single-family homes sold had a median value of $307,000.
At the end of December there were 19 single-family homes available for sale through MLS in this area compared with 24 at the end of 2019.
In the northern part of the city, 27 homes on acreage, 26 manufactured homes in parks and a further 52 manufactured homes on land sold in 2020. Of the 168 single-family homes sold, half sold for less than $417,000.
As of December 31, there were 19 single-family homes available through MLS in this area of the city compared with 39 at the end of 2019.
In the southwest sector 9 half-duplexes, 21 townhouses, 12 homes on acreage, 10 manufactured homes in parks and a further 8 manufactured homes on land sold in 2020. Half of the 260 single-family homes sold in 2020 sold for less than $450,000.
At year end, there were 20 single-family homes available for sale through MLS in the southwest sector, compared with the 36 at the end of 2019.