FORT ST. JOHN, B.C. – The Fort St. John area saw 123 properties worth $54.5 million sold in the first quarter of 2022, according to the BC Northern Real Estate Board.
Since January 1st, 69 single-family homes, 13 half-duplexes, 11 homes on acreage, eight manufactured homes in parks and eight manufactured homes on land have sold.
A single-family home in the area sold for an average of $398,458.
In the first quarter of 2021, 170 properties worth $60.2 million were sold, with 92 single-family homes selling for an average price of $376,884.
In Fort Nelson, the board says 22 properties worth $4.6 million were sold so far in 2022.
In a release, the board says sales remain elevated in the north, but not at the same record-setting level reported in the first and second quarters of 2021.
“After close to a record-setting year in 2021, the real estate market in the north remains very hot. Although sales are down from their peak in early 2021, continually declining active listings means that the sales-to-active-listings ratio has hit a record level,” said the board.
The housing market in the north may be in for another strong year, with sales trending about 25 per cent above long-term average levels, the board said.
“Unfortunately, the region is suffering from extremely low supply, which means continued upward pressure on home prices. We expect markets will remain tight through the first half of 2022 before rising mortgage rates and continued tightening by the Bank of Canada begins to temper demand by the summer.”
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