Property sales in Prince George have enjoyed a nice resurgence through the first nine months of 2024.
According to the third-quarter report from the BC Northern Real Estate Board, 1006 properties worth 477-million dollars have changed hands – that’s up from the 921 transactions totaling 423-million dollars during the same time last year.
President, Kristine Newell expects a strong finish to 2024.
“We do expect to have a solid start to the fourth quarter and then calm down near the end, which is very typical for this region.”
Due to the current economic conditions, more buyers are looking at other neighborhoods not named the Hart or College Heights to break into the market.
“Yes, I am seeing more folks get their starter homes at the very least in the bowl area and then looking to the secondary home looking to go to those more desirable areas now that they can afford them after selling the first property.”
In the western part of the city, the median price of the 181 homes sold this year, was $464,900.
East of the By-pass saw 117 single-family homes sold for an average price of $405,100.
In the Hart, the 124 single-family homes sold had a median price of $554,400 while College Heights tallied 184 single-family home sales worth roughly $565,625.
At the end of September, there were 820 properties of all types available for purchase through MLS in Prince George.
The average price of a single-family home in Prince George is $522,541 – roughly 90-grand higher than the regional mark ($432.748).
Something going on in the Prince George area you think people should know about?
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