FORT ST. JOHN, B.C. – The Fort St. John area saw 353 properties worth $145.1 million sold in the first half of 2022, according to the BC Northern Real Estate Board.
Since the beginning of the year, 172 single-family homes, 12 parcels of vacant land, 42 half-duplexes, 30 homes on acreage, 16 manufactured homes in parks and 36 manufactured homes on land have been sold.
A single-family home sold for an average of $398,000, and it took about 67 days for this type of home to sell.
As of June 30th, the BC Northern Real Estate Board says there were 467 properties of all types available in the area.
In Fort Nelson, 48 properties were sold in the first half of 2022, worth $9 million.
The board reports 2,895 properties sold in the north in the first six months of 2022, down from last year’s 3, 561. The value, however, stayed the same at $1.2 billion.
The board says that residential unit sales are at the lowest since the start of the post-pandemic “boom” but remain elevated relative to historical averages.
“Although sales in the north have been falling in recent months, total sales in the first half of 2022 are still about 23 per cent above the pre-pandemic long-run average. While supply is rising, the sales-to-active-listings ratio is only beginning to approach a more balanced level in the latest monthly data,” the BC Northern Real Estate Board said in a release.
“We expect that in the second half of the year, tightening by the Bank of Canada and heightened mortgage rates will continue to temper demand, softening prices and sales.”
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