Listen Live

Listen Live

Listen Live

HomeNews100 Mile HouseNorthern BC sets new all-time high for home sales in May

Northern BC sets new all-time high for home sales in May

(With files from Brendan Pawliw-MyPGNow)

Our region set a new all-time mark for home sales in May after 655 home changed hands, smashing the previous record high of 642 set back in August of 2007.

BC Real Estate Association Chief Economist, Brendon Ogmundson recently spoke with Vista Radio.

“The north has actually seen the type of market activity that we were seeing in the rest of the province back in March.  Back in March, we were seeing all-time records of home sales in the Lower Mainland and that is what we got this time around in BC Northern.”

“We are starting to see other markets start to cool down a little bit but are still seeing somewhat strong sales. I imagine that is what is going to happen more or less for the north as well as we just hit an all-time record.”

- Advertisement -

There were 74 homes sold throughout the Cariboo in May, up from just 27 in May of 2020.

The average price of a single detached home also skyrocketed compared to a year ago.

NUMBER OF UNITS SOLD                      MEDIAN PRICE

May 2021       May 2020                    May 2021              May 2020

Williams Lake               31                    10                             $375,000              $327,000

Quesnel                          18                      6                             $315,000               $250,500

100 Mile House            25                    11                              $380,000              $315,000

Ogmundson expects this trend to continue for at least the next year until more listings are put back into the market.

- Advertisment -
- Advertisment -
- Advertisement -

Continue Reading

More