The B.C. Northern Real Estate Board reports 123 properties worth $54.5 million sold in the Fort St. John area in the first quarter of 2022.
According to the BCNREB's Q1 update released Tuesday, 69 single-family homes sold between Jan. 1 and March 31, for an average price $398,458.
Another 13 half-duplexes, 11 homes on acreage, eight manufactured homes in parks and eight manufactured homes on land sold, according to the board.
In a release, the BCNREB says sales throughout Northern B.C. remain elevated, with 1,041 sales valued at $448.84 million reported for the quarter across the region. However, not quite the record-setting paces seen in first and second quarters of 2021, the board said.
“Housing markets across the north started 2022 with sales trending about 25 per cent above long-term average levels, suggesting the potential for yet another strong year,” the board stated.
“Unfortunately, the region is suffering from extremely low supply, which means continued upward pressure on home prices. We expect markets will remain tight through the first half of 2022 before rising mortgage rates and continued tightening by the Bank of Canada begins to temper demand by the summer.”
In the first quarter of 2021, 170 properties worth $60.2 million had sold in Fort St. John, with 92 single-family homes selling for an average of $376,884.
Figures released by the BCNREB in January showed 802 properties were sold in the city last year, at a value of $310.3 million, and up from 529 properties worth $187.8 million in 2020.
In Fort Nelson, the board reported 22 properties worth $4.6 million had sold so far this year. The BCNREB says 419 properties in Fort St. John and 100 in Fort Nelson were listed for sale through MLS at the end of March.