The B.C. Northern Real Estate Board has reported an increase in property sales this year.
The MLS reported that in 2009, there were 4,129 property sales, worth a total $848.3 million. In 2010, the rate increased as 4,300 properties were sold, worth $867.3 million.
Fort St. John was no exception to the increased rates, as 2010 saw 654 property sales take place, worth approximately $178.5 million. This was an increase over the 594 sold in 2009, which were worth roughly $154.3 million in total.
Single family homes accounted for the majority of sales. Out of the 654 property sales in the city, 319 were single family homes, half of which sold for less than $307,500.
Fort Nelson also witnessed an increase in property sales. In 2010, 140 properties were sold, worth $28.9 million. This showed an increase in the number of properties sold over the previous year when only 90 properties were sold for a total of $20.2 million.
Along with property sales, an increase in the average selling price for a single family residence in Fort St. John jumped from $303,965 in 2009 to $317,760 in 2010.
However, Fort Nelson saw the opposite effect, as the 2009 average home price decreased from $268,165 in 2009 to $262,100 in 2010.