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Prince George outperforming Northern BC according to BCREA report

Prince George continues to lead the way when it comes to the real estate side of things.

Brendon Ogmundson with the BC Real Estate Association says everything seems to be going in the right direction.

“Sales are up in Prince George between almost 6% through June, prices are also a little because market conditions are a little tighter so the average price is around $300,000 for a single family home.”

The same cannot be said for the rest of Northern BC where the average home price is $260,000.

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Unit sales in the region are also down 4%.

Ogmundson believes this is due to the downturn in the Oil and Gas sector in places like Kitimat and Fort St. John while places like Quesnel and 100 Mile House are doing better thanks to a more diversified economy.

A record 12,906 residential unit sales were recorded in June which is up 14% from the same month last year.

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