Real estate sales continued to climb in Fort St. John in 2018, but home prices continued to tumble, according to year-end numbers from the BC Northern Real Estate Board.
According to the board, 524 properties changed hands in Fort St. John in 2018, up 15% from 455 sold in 2017.
Total sales for the year were valued at $203.9 million, up from $174.2 million the year prior.
"Market conditions in BC Northern tightened and may move from a balanced market to a seller’s market over time," board president Court Smith said in a news release.
"The Northern markets have not seen the same overall negative effects of the mortgage stress test as seen in the lower mainland; although, some individual buyers have been forced out of the market by the stress test which has made it difficult for them to buy."
Of the 290 single-family homes sold in Fort St. John, the average selling price was $366,129, though half sold for less than $347,500, the board noted.
Another 23 parcels of vacant land were sold in the city, along with 37 half-duplexes, 55 homes on acreages, and 55 manufactured homes.
At the end of 2018, there were 544 properties listed through MLS in the Fort St. John area, down from the 662 properties at the end of 2017, according to the real estate board.
Real estate sales in the city rose more than 14% in 2017. That year, the city saw 218 single-family homes sell for an average price of $391,003.
Across Northern B.C., there were 5,125 property sales worth $1.5 billion in 2018 through MLS, up from last year’s 4,981 sales worth $1.3 billion.
"Northern markets are expected to perform better than the markets in the southern parts of the province for 2019," Smith said.