Shown is a graph for the BC northern area. (BCREA data)

Low supply of homes in the north cause an upward trend on prices

BC Northern Real Estate Board says struggling forestry industry held back housing demand in the latter half of 2019

In 2019, a struggling forestry industry and an uncertain environment for global trade held back housing demand in the second half of 2019, report the Realtor members of the BC Northern Real Estate Board (BCNREB).

In a Jan. 13 news release by the BCNREB, they reported 4748 property sales worth $1.5 billion in 2019 through the Multiple Listing Service (MLS), down from 2018.

Due to a low supply of homes for sale, most northern markets saw upward pressure on home prices.

“While 2019 was a down year for sales, momentum is building in the northern economy from LNG and BC Hydro investments that should translate to a pick-up in housing activity by 2020,” stated the release.

READ MORE: Vanderhoof sees a two percent increase in assessed property values

In Vanderhoof, there were 120 properties sold in 2019, worth $31.3 million, compared with 2018’s 121 properties worth $25.2 million.

There were 48 single-family homes sold in 2019, and half of those, sold for less than $229,000. Additionally, 19 parcels of vacant land, 28 homes on acreage, four manufactured homes in parks and a further ten manufactured homes on land, changed hands in 2019.

As of Dec. 31, there were 81 properties of all types available through the MLS in Vanderhoof, compared to the 61 properties a year ago.

In Fort St. James, sixty-one properties worth $9.9 million sold in 2019, compared to 48 properties worth $9.7 million in 2018. At the end of the year, there were 63 properties available through MLS in Fort St. James area compared to 59 at the same time last year.

Other regions in Bulkley-Nechako

Houston: 52 properties worth $10.5 million changed hands in 2019, compared to the 42 properties worth $7.8 million that sold in 2018. The median value of the 36 single-family homes sold was $167,750. As of December 31st, there were 16 properties of all types available in the Houston area.

Smithers: There were 222 reported sales worth $67 million in 2019, compared to 270 sales worth $82.6 million in 2018. The median value of the 93 single-family homes that sold in 2019, was $289,000. 36 parcels of vacant land, 49 homes on acreage, 15 manufactured homes in parks and a further 8 on land also changed hands in 2019. At year-end, there were 123 properties of all types available in the Smithers area, compared with 129 at December 31st, 2018.

Burns Lake: 84 properties with a value of $13.9 million sold in 2019 compared with 81 worth $12.5 million in 2018. Half of the 35 single-family homes that sold, sold for less than $155,000. 15 parcels of vacant land, 19 homes on acreage and 9 manufactured homes on land also changed hands in 2019. As of December 31st, there were 78 properties of all types available through MLS in the Burns Lake area, down from 87 at the end of 2018.

Aman Parhar
Editor, Vanderhoof Omineca Express

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Potholes in Vanderhoof recurring due to weather, says district office

Potholes in Vanderhoof are being fixed, but ‘northern winter weather’ is the… Continue reading

Northern Health recommends self-quarantine for people returning from Hubei

The healthcare provider said it isn’t neccessary for healthy children to wear face masks

Wet’suwet’en return to camps near Houston, Coastal GasLink workers move through: First Nation

Opponents of a pipeline who support the Wet’suwet’en hereditary chiefs have reoccupied camps at centre of arrests

Still no contract for Canada Post workers

Vanderhoof postal workers will wear black every Friday to raise awareness about their situation

Vanderhoof shines at 2020 Prince George Iceman

A total of 32 Vanderhoofians took part in the annual multi-sport event

VIDEO: Ottawa wants quick, peaceful resolution to pipeline protests, Trudeau says

The protests have manifested themselves as blockades on different rail lines across the country

Wet’suwet’en and B.C. government have been talking Aboriginal title for a year

Coastal GasLink says it has agreements with all 20 elected First Nations councils along the 670-kilometre route

Trudeau tightlipped on plan to end protests ‘quickly and peacefully’

The prime minister, who cancelled a two-day trip to Barbados this week to deal with the crisis at home

B.C. budget expected to stay the course as economic growth moderates

Finance minister said ICBC costs have affected budget

Canadian standards for coronavirus protection to be reviewed, health agency says

The protocols set out how health workers should protect themselves and their patients

Monday marks one-year anniversary of man missing from Langley

42-year-old B.C. man, Searl Smith, was last seen leaving Langley Memorial Hospital on Feb. 17, 2019

BC Ferries sailings filling up Family Day Monday

More than 20 sailings added between Swartz Bay and Tsawwassen for long weekend

Amtrak warns of delays as railways from Seattle to B.C. blocked by Wet’suwet’en supporters

Coastal GasLink said it’s signed benefits agreements with all 20 elected band councils along pipeline route

Federal emergency group meets on pipeline protests as rail blockades continue

There’s mounting political pressure for Trudeau to put an end to the blockades

Most Read