Article published in the PG Citizen on January 13, 2020
The average price of a single-family home in Prince George rose by 5.9 per cent in 2019, according to statistics released by the BC Northern Real Estate Board.
A total of 922 single-family homes were sold in the city in 2019, with an average price of $371,443.
By comparison, the average single-family home sold for $350,713 in 2018 and $319,167 in 2017. The total number of single-family homes sold in 2018 was 917, and 1,020 houses sold in 2017.
House values varied significantly by area, with the median price for a single-family home in College Heights coming in $429,900. In the Hart the median house price was $377,500, the bowl west of the by-pass had a median house price of $335,000 and east of the by-pass the median price was $280,000.
In total, 1,417 properties of all types worth $491.7 million were sold in the city in 2019, up from 1,400 properties of all types worth $444.9 million in 2018.
Across northern B.C. the total of property sales stayed flat at approximately $1.5 billion, however the total number of properties sold declined.
Due to a low supply of homes for sale, most northern markets saw upward pressure on home prices. Across the B.C. northern board area, the MLS average price rose 5.1 per cent, averaging $310,548.”
