Sales of residential detached homes increased in Smithers for the first nine months of this year compared to the same period in 2022 according to figures provided by the BC Northern Real Estate Board.
From 51 homes sold from January to the end of September 2022, in the same time period this year, the count went up to 60. However, the average selling price decreased slightly from $548,821 to $521,400.
And although the average selling price dipped, Smithers still ranks as the most expensive place in the north to buy a residential detached house. The next highest is $504,333 in Prince George and then 100 Mile House at $501,063.
On average, it took 70 days for a single-family home to sell this year in Smithers.
Also changing hands this year so far were eight parcels of vacant land, 34 homes on acreage, six manufactured homes in parks and five manufactured homes on land. As of September 30, there were 84 properties of all types available through the MLS in the Smithers area.
Overall, for the first nine months of this year, 124 properties worth $61.5 million changed hands in the Smithers area, compared with 138 properties worth $66.4 million in the first nine months of 2022. Half of the 60 single-family homes sold so far this year, sold for less than $500,000.
Sales figures across northern B.C. as a whole were down, reported the regional real estate board, with 3,354 properties worth $1.4 billion sold through the Multiple Listing Service for the first nine months of this year compared to the 4,210 properties worth $1.7 billion that sold in the first nine months of 2022.
But within the north, individual locations such as Prince George, Prince Rupert, Fort St. John, 100 Mile House and Williams Lake did record an increase in the third quarter of this year compared to the second quarter.
“Overall, the housing market in the BC Northern Real Estate Board area remains soft as high and rising interest rates have constrained affordability for buyers,” the board states.
It expects sales to remain cool in 2024 in the face of continued high interest rates and a softening labour market.