Williams Lake has seen house prices rise for the first quarter of the year, although only by about $1,000 compared to last year’s first quarter, according to the BC Northern Real Estate Board (BCNREB).
In a release listing the sales in the first quarter of the year, the average house price in Williams Lake was $245,070 during the first three months of 2018. That’s up from $243,962 in 2017 and and $235,488 in 2016.
During the first quarter of the year, 94 properties sold in Williams Lake, compared to 82 in the previous year, totalling a value of $19.9 million. Of these, 29 were single-family homes, 21 homes on acreages, 11 manufactured homes in parks and seven were manufactured homes on land.
As of March 31, 238 properties were listed on MLS in the Williams Lake area. This marks an increase in the number of sales and a decrease in the number of inventories available.
While Williams Lake’s market stayed relatively steady, 100 Mile House saw both prices and sales drop in the first quarter of 2018. The average home price in 100 Mile House was approximately $201,212 in 2018, compared to 284,240 in 2017.
Quesnel on the other hand, saw average house prices jump by $50,000 in the first quarter of 2018, compared to those sold during the first quarter of last year. The average price there so far this year is $239,077 compared to $189,025 in 2017.
In Northern B.C. average house prices were highest in Prince George at $355,639. Prince George also boasted the most sales, and were lowest in Mackenze, at $174,700, who also saw the least sales. Still, Prince George also saw a decrease in the number of sales and listings when compared to 2017.
“Many areas have been impacted by the prolonged winter weather,” stated BCNREB president and Williams Lake realtor Court Smith. “Most markets are seeing reduced sales activity and lower inventory over the same period last year.”
He did note that real estate in Northern B.C. continues to be very affordable as compared to other regions of the province.