Real estate sales in Fort St. John nearly doubled in the first quarter of 2021 while average home sale prices have held steady compared to last year.
Across the area, there were 170 properties worth $60.2 million sold by the end of March, according to the BC Northern Real Estate Board. That’s up from 90 properties worth $28.3 million during the same quarter last year.
Of those sales, 92 were single-family homes (+51), going an average price of $376,884. Selling prices are on par with last year, when 41 single-family homes sold for an average price of $376,976.
The city also saw the sale of 18 half-duplexes (+7), 15 homes on acreages (+6), 6 manufactured homes in parks (-1) and another 17 on land (+13) , according to the Board.
The Board said the province's economic recovery from the COVID-19 recession last year is well underway, with growth led by pent-up consumer spending, record household savings, as well as a recovering global economy and strong non-residential construction.
A ramp-up in spending and activity related to LNG projects and pipelines, as well as rising commodity prices, are expected to boost employment and housing demand in northern B.C., the Board said.
“A surge in home sales is already under way with sales in the first quarter of 2021 on a record pace,” President Shawna Kinsley said.
In Fort Nelson, sales were up 250% year-over-year in the first quarter.
The Board reported 39 properties worth $7.4 million sold by the end of March, up from 11 properties worth $1.6 million last year.
As of March 31, there were 572 properties listed through MLS in the Fort St. John area, and 108 in Fort Nelson.
Across Northern B.C., 1,530 sales worth $501.9 million had sold through MLS in the first quarter. The first quarter of 2020 saw 753 sales worth $217 million change hands.
Email Managing Editor Matt Preprost at email@example.com.