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FORT ST. JOHN, B.C. – Real estate sales in Fort St. John this year have already surpassed the total properties sold in 2020, and the fourth quarter just started.

The BC Northern Real Estate Board ( BCNREB) says 629 properties worth $242.4 million were reported sold in the area as of September 30th, 2021. By the same time last year, 386 properties worth $137.7 million were reported sold.

In 2020, 529 Fort St. John properties valued at a total of $187.8 million were sold and 501 properties worth $179.3 million were sold in 2019.

Of the 320 single-family homes sold in the Energetic City this year, half were sold for less than $370,00 and took 63 days to sell on average.

In addition, 34 parcels of vacant land, 60 half duplexes, 70 homes on acreage, 22 manufactured homes in parks and a further 70 manufactured homes on land were reported sold.

At the end of September, 566 properties of all types were available for purchase through Multiple Listing Service (MLS) in the Fort St. John area.

The BCNREB says residential unit sales remain high due to the recovering economy in the north, where 5300 properties worth $1.9 billion sold so far in 2021. At this time last year, 3709 properties worth $1.2 billion had changed hands in the north.

The board says the combination of near-record sales and record low inventory is driving prices to new records, and residential prices are up roughly 25 per cent since the start of the pandemic.

The British Columbia Real Estate Association forecasts sales in the north will reach around 5,400 by the end of 2021, just short of the all-time record of 5,564 sales set in 2006.

The growth in the north is mainly attributed to large industrial projects in the north, such as Site C, LNG Canada’s export terminal in Kitimat, and the Coastal Gaslink pipeline.

“The total workforce at the Site C Dam employed over 5,000 workers in the third quarter, up nearly 10% year-over-year. One in five of these workers are local Peace region residents,” says the board’s report.

In Fort Nelson, 71 properties worth $14.5 million have sold in the first nine months of 2021. This year’s sales are up compared to the end of September last year where 58 properties worth $8.1 million were sold.

Half of the 21 single-family homes sold so far were for less than $165,000 and, on average, took 101 days to sell.

Additionally, 13 homes on acreage, three manufactured homes in parks and 15 manufactured homes on land were sold.

As of September 30th, 137 properties of all types were available for purchase through MLS in the Fort Nelson area.

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