The Year End Report By The Northern B.C. Real Estate Board Indicates Sales Were Down In 2023 When Compared To 2022. In Terrace 271 Properties Were Sold Last Year Compared To 277 In 2022.
While Number Of Sales Dipped, The Overall Value Was Up. As To Availability, It Too Is Up With 130 Properties Available Through Multiple Listing Services Which Is Way Up From The 45 Properties On The Market As Of End Of December 2023.
In Prince Rupert, Sales Fell, But Availability Wasn’t The Reason. 125 Properties Were Available Last Year Compared With 34 At The End Of This Year.
For The Final Quarter Of Last Year The Northern Region Showed A Variable Trend. Sales Were Up In Rupert, Quesnel, 100 Mile House And Williams Lake. Sales Were Down In Kitimat, Fort St. John, Terrace, Smithers And Prince George.
Overall, 4,233 Properties Worth A Combined Worth Of $11.7 Billion Were Sold Last Year Compared With 5,071 Properties Worth $2 Billion In 2022.
The Board Reports The Northern Housing Market Remains Soft As High Interest Rates Constrained Affordability For Buyers.
With The Expectation The Bank Of Canada Will Roll Back Interest Rates This Year, The Board Is Expecting To See Growth In Sales By This Spring.
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