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Northern BC home sales up sharply to begin 2017

According to the BC Real Estate Association, residential sales in northern BC rose 11% in January compared to the same time last year.

BCREA Chief Economist Cameron Muir says Prince George should continue to outpace the rest of the region.

“Prince George’s economy is increasingly diversified and I think that has bode well for the housing market in the area. Housing starts are at a fairly good clip and I think the overall market conditions are on some pretty solid footing.”

Some homes in the city could exceed the average price of $300,000 in 2017 according to Muir.

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“Home prices will likely rise toward the rate of inflation, so we’re going to see some modest increases in prices during 2017 but nothing in the terms that we can categorise as a hot or extremely robust market.”

The BC Northern average is slightly lower at $261,000.

190 unit sales were recorded last month in the region.

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