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HomeNewsPrince George housing market holds steady in July, Northern BC remains flat

Prince George housing market holds steady in July, Northern BC remains flat

The BC Real Estate Association unveiled their July housing numbers for Northern BC including Prince George.

The average home price for the region remained flat over the past 12-months at $305,000.

Some people are questioning whether or not the housing market in the northern capital will soften due to the recent sawmill curtailments in Fort Saint James and Mackenzie.

Bob Quinlan with RE/MAX Realty told Vista Radio we might see a bit of a shift.

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“I think that we’re going to have some adjustment because of the market that our industry serves for the outlying areas but a lot of them are going to have to leave their area and maybe come to the city where there is more chance for employment.”

Quinlan adds while July is traditionally a slow month on the real estate calendar, the local numbers are still on par from the same time in 2018.

“We see that we’ve got a pretty healthy market going as it’s just fairly steady and the number of sales is close to or even a little bit above last year but the individual dollar sales per unit are going up in all areas.”

“Mid-summer you’re usually enjoying the lake, going on holidays and whether you’re a seller you are not going to be wanting to be putting a sign out there and a buyer is not going to be peaking unless they are serious, so it’s almost like the reverse of what happens around Christmas time.”

He stated the average home price in Prince George as of July was $343,000, while the provincial average is just over $684,000.

Four hundred and sixty-six unit sales were recorded last month compared 446 just 12 months earlier.

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