Fort St. John continues to lead Northern Real Estate Board pack

FORT ST. JOHN, B.C. — As anticipated, following last October’s release of the third quarter numbers, the Northern Real Estate Board posted a 2015 year-over-year drop in both the number of properties sold and their value.

Sales last year, through the Multiple Listing Service, totaled 4,480 properties, worth $1.2 billion, as compared to the previous year’s totals of 5,218, worth $1.3 billion.

However, the month of December narrowed the differential with a year-over-year six per cent sales increase leaving the overall twelve month drop at six and half percent.

Meantime, Fort St. John — with the average single family residential selling price as of the end of December at just over $425,000 — continues to be the run-away leader among the 15 board member communities.

That was up about 6,500 over the year end 2014 average selling price, but the number of units sold last was down to 266 from 422 in 2014 and 381 in 2013.

The local average selling price did slip a bit from where it was at the end of the third quarter—at nearly 429,000 — but it remains more than $100,000 higher than any of the other communities, with Terrace, at just over 308,000, now the only other one above 300,000.

Not surprisingly the largest member community again recorded the largest number of properties sold last year, with the Prince George total at 976.

However, the average selling price there is only about $285,000, putting it fourth on the overall community list, also trailing Kitimat which finished the year at just over 298,000.

While some of the member communities, including this one, appear to be affected by the global commodity slowdown, Prince George continued to be the least impacted, and that’s believed to be the result of a more diversified economy.