(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.”
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.