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Saturday, October 19, 2019
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Fort St. John sees increase in real estate sales due to oil and gas jobs: BCNREB

FORT ST. JOHN, B.C. – The BC Northern Real Estate Board says that home sales in the north have picked up during the first quarter of 2017 compared to the same time frame in 2016.

The report released on Thursday stated that in Fort St. John, the sales have increased as more jobs are being produced in the area and because of the Site C dam project.

“Fort St. John has seen an increase in sales activity. The increase is likely due to continued work on the Site “C” Dam, as well as recent hiring for drilling projects in the area. Fort Nelson has seen slightly more listings and sales than the year prior, though overall the market is slow.”

The BC Northern Real Estate Board released the past 3 years average for the selling price of a property/Photo: BC Northern Real Estate Board

To break down the number for Fort St. John a little further, there were 93 (74) properties worth $38.6 million ($30 million) changed hands in the first quarter of 2017. At the end of March, there were 695 (689) properties of all types available for purchase in the Energetic City.

The Real Estate Board is reporting that there were 934 sales with a value of $250,679,200 through the Multiple Listing Service during the first quarter of the year. In 2016, there were 859 sales worth $217,647,633 to the end of March.

At the end of March this year, there were 3591 properties of all types available for purchase compared to 3973 the year before.

President of the Board, John Evans says that the spike in activity can be related to new oil and gas projects starting in the area.

“We are seeing a slight increase in sales in many communities in the Board area compared to the sales at the same time last year.  The economies of many BC Northern communities are based on resources, thus local markets are affected by the implementation of new oil and gas projects, the closing of mines, and the commodity prices and demand.”

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