2024 was a bounce back year for real estate in Northern BC.
In its year-end wrap-up, the BC Northern Real Estate Board reported 4,667 property sales last year worth $1.9 billion dollars – up from the 4,229 recorded in 2023 worth 1.7 billion.
In Vanderhoof, 130 properties sold in 2024 were worth $44.6 million, compared with 2023’s 117 properties worth $42.5 million.
Of the 58 single-family homes purchased last year, half went for less than $346,250. In addition, 23 parcels of vacant land, 30 homes on acreage, 5 manufactured homes in parks and a further 6 manufactured homes on land changed hands.
As of December 31st, there were 64 properties of all types available through MLS in the Vanderhoof area, compared with 58 properties a year ago.
Nearby Fort St. James saw 54 properties worth $15 million change hands in 2024, compared to 37 properties worth $9.7 million in 2023.
At year-end, there were 34 properties of all types available through MLS, up slightly from 32 at the same time last year.
Sales in the north during fourth quarter of 2024 ticked upward following strong activity in the previous quarter. At 1,096 sales on a seasonally adjusted basis, housing market activity was 2.7% above historical averages and 23% above the same level 12 months earlier.
There were 1,759 active listings at the end of December 2024 (seasonally adjusted), the region is roughly 25% below what the board considers to be a healthy, long-term level of inventory.
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