FORT ST. JOHN, B.C – Real estate sales in Fort St. John surged in the first quarter of 2021, according to the BC Northern Real Estate Board.
In the city, 170 properties worth $60.2 million were sold compared to 90 properties costing $28.3 million in the first quarter of 2020.
Since January 1st, 92 single-family homes sold, 18 half-duplexes, 15 homes on acreage, six manufactured homes in parks and 17 manufactured homes on land have been sold.
A single-family home’s average price was $376,884, a slight decrease compared to $376,976 at the end of March in 2020.
In the first quarter of 2020, 41 single-family homes were sold, 11 half-duplexes, nine homes on acreage, seven manufactured homes in parks and four manufactured homes on land.
With the economic recovery in BC underway, the board says economic growth in the province this year is expected to reach a 25-year high of 5 per cent, followed by nearly 4 per cent growth in 2022. The growth will be due to pent-up consumer spending, aided by record household savings and a recovering global economy and strong non-residential construction.
“A ramp-up in spending and activity related to LNG projects and pipelines, along with strong commodity prices spurred by a recovery in global demand should provide a boost to employment growth and housing demand in the North,” says the board’s report.
So far in 2021, Fort Nelson properties sold were more than triple the sales in the same quarter last year. In the area, 39 properties were sold for $7.4 million, while last year, 11 properties worth $1.6 million were sold.
In Northern B.C., 1,530 sales worth $501.9 million were sold in the first quarter, double the properties sold in 2020’s first quarter.