Fort Nelson property sales plummet in 2019

Property sales in Fort Nelson dropped by nearly half in 2019.

According to the BC Northern Real Estate Board, there were 48 sales worth $5.5 million in Fort Nelson last year, down from 80 worth $8.5 million in 2018.

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Of the 17 single-family homes sold, the average selling price was $119,797, though half sold for less than $102,800. Four homes on acreages and two townhouses also sold in 2019.

At the end of 2019, there were 101 properties listed through MLS in the Fort Nelson area, down one from the end of 2018.

Across Northern B.C., there were 4,748 property sales worth $1.5 billion in 2019 through MLS, down from last year’s 5,125 sales worth $1.5 billion.

"A struggling B.C. forestry sector and an uncertain environment for global trade held back housing demand in the second half of 2019," the Board noted in a news release.

"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 in 2020."

Email Managing Editor Matt Preprost at editor@ahnfsj.ca.

© Copyright Alaska Highway News

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