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HomeNews100 Mile HouseIt remains a sellers market in the Cariboo when it comes to...

It remains a sellers market in the Cariboo when it comes to real estate

The BC Northern Real Estate Board says the number of sales for a single detached home were down in the Cariboo last month (33), compared to a year ago (45) in November of 2020.

However, BC Real Estate Association Chief Economist Brendon Ogmundson, says active listings in the region remain limited seeing a 14% year-over-year decline.

And Ogmundson notes that that is not just specific to the north.

“We are seeing inventory hit new record-lows every month.  In the province of BC, there were just 16-thousand listings, which is extremely low.  That’s what Vancouver used to have on its own in a healthy-ish market.”

According to new data released today (Wednesday) by the Canadian Real Estate Association, the average selling price in the country last month was just under $721,000, beating out the previous all-time high set back in March.

Ogmundson noted the province is well ahead of the national pace.

“In BC, we set a record-high for the average price at almost a million dollars – 994-thousand to be exact. A lot of that was driven by a big jump in single-detached prices in Vancouver and I don’t think we are going to stay at those levels.”

In the north, the average home price is $405,000 – a 25% spike when compared to November of 2020.

The average price in 100 Mile House last month, once again for a single detached home, was $421,192.

That is up from just under 291 thousand dollars in November of 2020.

The average price for Quesnel was $343,208 and $338,912 for Williams Lake.

(With files by Brendan Pawliw-MyPGNow)

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