“Markets in the southern region remained largely unchanged from the previous year mainly due to a poorly performing labour market,” says President Gisela Janzen. “Overall B.C. northern appears to be most resilient in this post recession period when compared to the rest of the province.”
In total, 4,891 properties were sold in northern B.C. in 2013, valued at $1.2 billion. That’s up from 4,696 sales the year before worth $1.08 billion.
Fort St. John property sales continued to grow, with 854 properties changing hands last year, worth $289 million, compared to 825 worth $264.3 million in 2012. Along with that, the average cost for a single family residential property in this city has risen again over both 2011 and 2012, at $373,648. The average cost at the end of 2012 was 357,846.
However, the trend didn’t stick in Fort Nelson, where the average house price went down to $316,880 from $322,002 at the end of 2012, but is still up over 2011 prices. 88 properties were sold in 2013, worth $22.9 million, which is also down from 101 properties worth $29.2 million in the previous year. In addition, half of the 31 single family homes sold last year went for less than $290,000.
There are currently 410 properties available in Fort St. John and 79 in Fort Nelson, as of December 31, 2013.