2009 real estate statistics for Northern BC

Residential Activity

Resale housing activity in the area served by the BC Northern Real Estate Board posted the first increase in sales in 10 quarters in the fourth quarter of 2009.

Home sales numbered 852 units in the fourth quarter, jumping 33 per cent from year-ago levels. This is the largest increase in more than five years, and is a result of strong gains in all three months of the quarter, particularly the 65 per cent increase in December.

Seasonally adjusted activity was up 15 per cent on a quarterly basis (seasonal adjustment removes normal seasonal fluctuations). Building on two consecutive increases, seasonally adjusted activity now stands 51 per cent above the low from the beginning of the year.

Annual home sales activity declined 10 per cent from 2008, numbering 3,618 units.


Active listings declined year-over-year in the fourth quarter. Combined with a sharp rebound in sales activity, this resulted in a tighter market for single detached homes compared to the fourth quarter of 2008.

With a tighter market in almost all areas served by the BC Northern Real Estate Board, homebuyers took less time to shop.

The median sale price for single detached homes was $230,000 in the fourth quarter of 2009, four per cent above year-ago levels. This is the highest median price for the fourth quarter period.

Median sale prices rose on a year-over-year basis in Prince George, Fort St. John, 100 Mile House, Williams Lake, and Smithers, and were down from year-ago levels in all other areas. The median sale price remains highest in Fort St. John.

In Prince Rupert the median sale price of a residential house in Qtr 4 2009 was $163,000, down from Qtr 4 2008's figure of $176,750. The consensus of opinion is that the bottom of the market has now been reached and that this years buying season will see a return to a balanced market from a buyer's market.