Property sales were up in Northern B.C. for 2020, despite the global novel coronavirus pandemic, according to the BC Northern Real Estate Board.
The area, comprised of the Cariboo, the Northwest, the Bulkely Nechako, the Northern and the Fraser Fort George regions, reported 4,083 property sales worth $1.6 billion in 2020 through the Multiple Listing Service (MLS), up from last year’s 4,748 sales worth $1.5 billion.
For the Cariboo, total property sales were up in 100 Mile House and Quesnel, but down slightly in Williams Lake.
Average single-family residential selling prices in 100 Mile House, Williams Lake and Quesnel are as follows (as of Dec. 31, 2020):
• 100 Mile House: $337,762 (up from $323,579 in 2019)
• William Lake: $335,585 (up from $287,916 in 2019)
• Quesnel: $288,323 (up from $267,108 in 2019)
“MLS home sales in 2020 made an exceptional recovery from the pandemic-induced pullback during the first half of the year,” said BCNREB president, Shawna Kinsley, noting the surge in sales in the second half of 2020 was fuelled by pent-up demand from spring sales that were put on hold, record-low mortgage rates and historically high savings rates that likely fast-tracked down payments.
100 Mile House saw 616 properties worth $177.4 million sold this year through MLS, compared to 447 properties worth $118.1 million in 2019.
The 179 single-family homes sold in 2020 had a median value (half sold for less) of $315,000. In addition, 181 parcels of vacant land, 137 homes on acreage, 50 manufactured homes on land, nine manufactured homes in parks and 36 recreational properties changed hands in 2020.
At the end of December there were 199 properties of all types available for sale through MLS in the 100 Mile House area, down from the 324 properties at the end of 2019.
Quesnel saw a modest increase: 398 properties in 2020 versus 351 in 2019. The value of these properties was $97.7 million ($83 million in 2019) with a median value of the 148 single-family homes sold in 2020 sitting at $275,000.
In addition, 59 parcels of vacant land, 94 homes on acreage, 26 manufactured homes in parks and a further 43 on land were reported sold in 2020. At year end there were 113 properties of all types available for purchase through MLS in the Quesnel area, down from 145 properties at the end of 2019.
In Williams Lake, 455 sales worth $126.9 million were reported through MLS in 2020, down from 472 sales worth $126.2 million the previous year.
Half of the 153 single-family homes sold in 2020 sold for less than $322,000. Sixty-eight parcels of vacant land, 103 homes on acreage, 22 townhouses, 39 manufactured homes in parks and 35 manufactured homes on land were also sold in 2020.
At the end of December, there were 125 properties of all types available through MLS in the Williams Lake area, down from the 171 properties at the same time last year.