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HomeNews100 Mile HouseProperty Sales Are Down But Prices Are Up In The Cariboo

Property Sales Are Down But Prices Are Up In The Cariboo

Updated: Real estate sales in the Cariboo are down through the first six months of 2019.

Figures released by the Northern Real Estate Board today show that the biggest drop was in 100 Mile House where 207 properties were sold through the Multiple Listing Service through June 30th, down from 271 at this time last year.

There was a slight drop in Williams Lake, 241 from 237, and 154 properties had been sold in Quesnel by the end of June, down from 164.

The average selling price of a property in 100 Mile House and area so far this year is just under 319 thousand dollars, up from 283.

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The average selling price in Williams Lake is just over 306 thousand dollars, up from 286, and Quesnel properties have sold on average for 281 thousand dollars, up from 241.

“Up until just now, June, inventory has been somewhat of a challenge meaning that there are more buyers than sellers,” said Court Smith, owner-broker of Williams Lake Remax Realty and past president of the Northern Real Estate Board.

“I think that we’re seeing a bit of a shift right now. Properties are on the market a little bit longer than normal or a little bit longer than they have been. so inventories are going up a little bit but we’re in good shape in Williams Lake.”

Cariboo Region synopsis:

  • 100 Mile House: 207 properties worth $52.8 million have changed hands through the MLS® in the area since January 1st. This compares with 271 properties worth $63.1 million in the same period in 2018. Half of the 61 homes that sold so far this year, sold for $315,000 or less and, on average, it took 60 days for these homes to sell. Also reported sold were 57 parcels of vacant land, 54 homes on acreage, 7 manufactured homes in Parks, 13 on land, and 10 recreational properties. At the end of June there were 568 properties of all types available for purchase through the MLS® in the 100 Mile House area.
  • Williams Lake: 241 properties have sold so far this year, compared to 237 properties by June 30, 2018. The value of these properties is $63.7 million ($58.2 million in 2018). Of the 77 single-family homes sold this year, half sold for less than $297,500 and these homes took, on average, 43 days to sell. In addition, 37 parcels of vacant land, 18 townhouses, 44 homes on acreage, 15 manufactured homes in Parks and 26 manufactured homes on land changed hands in the first six months of 2019. At the end of June there were 288 properties of all types available for purchase through the MLS® in the Williams Lake area.
  • Quesnel: In the Quesnel area, REALTORS® reported 154 sales worth $42.3 million so far this year, compared to 164 sales worth $36.7 million in the first six months of 2018. Of the 58 single-family homes sold between January and June, half sold for less than $291,000; these homes took, on average, 38 days to sell. In addition, 23 parcels of vacant land, 36 homes on acreage, 8 manufactured homes in Parks and 12 manufactured homes on land have sold in the first six months of 2019. As of June 30th, there were 246 properties of all types available for purchase through the MLS® in the Quesnel area.

(With files from R Dyok, MyCaribooNow.com staff)

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