The REALTOR® members of the BC Northern Real Estate Board (BCNREB) reported 4,667 property sales worth $1.9 billion in 2024 through the Multiple Listing Service® (MLS®), up from last year’s 4,229 sales worth $1.7 billion.
Sales in the BC Northern region in the fourth quarter of 2024 ticked upward following strong activity in the previous quarter. At 1,096 sales on a seasonally adjusted basis, housing market activity was 2.7% above historical averages and 23% above the level of Q4 2023. With 1,759 active listings at the end of December 2024 (seasonally adjusted), the region is roughly 25% below what we consider to be a healthy, long-term level of inventory. The average sale price in the board area fell to $424,814, 1.8% below the previous quarter.
Market activity around the board region was largely positive. Seasonally adjusted sales rose from the prior quarter in Prince George, 100 Mile House, Fort St. John, Kitimat, Terrace, and Smithers, while declining in Prince Rupert, Quesnel, and Williams Lake. Overall, the housing market in the BC Northern Board, while remaining in a similar state of balance, saw some heightened activity in the form of higher sales and active listings. With a sales-to-active listings ratio of about 20% (slightly higher than Q3), we expect momentum to continue building into 2025 as the Bank of Canada cuts towards its neutral range, encouraging market entry from prospective buyers previously on the sidelines. From these policy announcements, housing market activity may begin to accelerate as borrowing costs continue to improve for buyers.
By Region (The following statistics are not seasonally adjusted.)
Cariboo Region
100 Mile House: 374 properties worth $175 million sold this year through MLS®, compared with 371 properties worth $158.5 million in 2023. The 116 single-family homes that sold in 2024 had a median value (half sold for less) of $470,000. In addition, 68 parcels of vacant land, 104 homes on acreage, 34 manufactured homes on land, 13 manufactured homes in parks, and 24 recreational properties changed hands in 2024. At the end of December, there were 263 properties of all types available for sale through MLS® in the 100 Mile House area, up from the 232 properties at the end of 2023.
Williams Lake: 423 sales worth $184 million were reported through MLS® in 2024, up from 368 sales worth $141 million the previous year. Half of the 142 single-family homes sold in 2024 sold for less than $468,250. 30 parcels of vacant land, 104 homes on acreage, 27 townhouses, 44 manufactured homes in parks and 40 manufactured homes on land were also sold in 2024. At the end of December, there were 138 properties of all types available through MLS® in the Williams Lake area, down from the 152 properties at the same time last year.
Quesnel: 313 properties changed hands in 2024 through MLS®, up from 310 that were sold in 2023. The value of these properties was $112.8 million ($104.5 million in 2023). The median value of the 121 single-family homes sold in 2024 was $385,000. In addition, 39 parcels of vacant land, 68 homes on acreage, 29 manufactured homes in parks and 29 manufactured homes on land were reported sold in 2024. At year-end, there were 142 properties of all types available for purchase through MLS® in the Quesnel area, down from 165 properties at the end of 2023.
Northwest Region
Iskut/Atlin: 3 properties worth $316,000 have changed hands in 2024; compared to 9 properties worth $7.7 million in 2023. As of December 31st, there were 14 properties of all types available through the MLS® in the Iskut/Atlin area.
Hazelton/Highway 37: 20 properties worth $6.5 million have changed hands in 2024; compared to 27 properties worth $8.1 million in 2023. As of December 31st, there were 30 properties of all types available through the MLS® in the Hazelton/Highway 37 area.
Prince Rupert: 166 properties worth $65.4 million changed hands in 2024 compared with 156 properties worth $61.8 million in 2023. Half of the 109 single-family homes sold in 2024 sold for less than $450,000. In addition, 17 parcels of vacant land, 3 townhouses and 6 half-duplexes sold in 2024. At year-end, there were 123 properties of all types available through MLS® in the Prince Rupert area, down from the 127 properties at the same time last year.
Terrace: 274 properties sold in 2024 were worth $120.1 million compared with 2023’s 271 properties worth $116.2 million. Of the 140 single-family homes that changed hands, half sold for less than $519,500. In addition, 16 parcels of vacant land, 27 homes on acreage, 25 manufactured homes in parks and 17 manufactured homes on land sold in 2024. As of December 31st, there were 121 properties of all types available through MLS® in the Terrace area, down from the 137 properties available at December 31, 2023.
Kitimat: 183 properties worth $67.6 million changed hands in 2024; the same number of properties sold in 2023, and they were worth $71.7 million. The median value of the 126 single-family homes sold in 2024 was $365,000. In addition, 23 half-duplexes and 14 townhouses were sold. At year-end, there were 93 properties of all types available in the Kitimat area, which is up slightly from 91 at December 31, 2023.
Bulkley Nechako Region
Houston: 61 properties worth $16.4 million changed hands in 2024, compared to the 55 properties worth $16.7 million that sold in 2023. The median value of the 30 single-family homes sold was $266,250. As of December 31st, there were 38 properties of all types available in the Houston area.
Smithers: REALTORS® reported 160 sales worth $82.2 million in 2024, compared to 157 sales worth $80.8 million in 2023. The median value of the 82 single-family homes that sold in 2024, was $492,500. 17 parcels of vacant land, 27 homes on acreage, 6 manufactured homes in parks and a further 6 on land also changed hands in 2024. At year-end, there were 60 properties of all types available in the Smithers area, compared with 55 at December 31, 2023.
Burns Lake: 66 properties with a value of $19.9 million sold in 2024 compared with 52 worth $15 million in 2023. Half of the 26 single-family homes that sold, sold for less than $272,500. 11 parcels of vacant land, 24 homes on acreage and 1 manufactured home on land also changed hands in 2024. As of December 31st, there were 52 properties of all types available through MLS® in the Burns Lake area, down from 62 at the end of 2023.
Vanderhoof: 130 properties sold in 2024 were worth $44.6 million, compared with 2023’s 117 properties worth $42.5 million. Of the 58 single-family homes that sold in 2024, half sold for less than $346,250. In addition, 23 parcels of vacant land, 30 homes on acreage, 5 manufactured homes in parks and a further 6 manufactured homes on land changed hands in 2024. As of December 31st, there were 64 properties of all types available through MLS® in the Vanderhoof area, compared with 58 properties a year ago.
In Fort St. James 54 properties worth $15 million sold in 2024, compared to 37 properties worth $9.7 million in 2023. At year-end, there were 34 properties of all types available through MLS® in the Fort St. James area, compared to 32 at the same time last year.
Northern Region
Fort St. John: 648 properties with a value of $243.4 million sold in 2024, up from 585 properties worth $235.5 million that sold in 2023. Of the 275 single-family homes sold in 2024, half sold for less than $388,000. In addition, 42 parcels of vacant land, 72 half-duplexes, 49 homes on acreage, 28 manufactured homes in parks and a further 45 on land sold in 2024. At the end of December, there were 363 properties of all types available through MLS® in the Fort St. John area, down from the 444 properties at the end of 2023.
Fort Nelson: 57 properties sold through MLS® in 2024 were worth $9.3 million, down from 2023’s 74 properties worth $14.6 million. Half of the 21 single-family homes sold in 2024, sold for less than $205,000. There were 3 homes on acreage and 16 manufactured homes on land also sold in 2024. As of December 31st, there were 112 properties of all types available through MLS® in the Fort Nelson area, up from the 86 properties on December 31, 2023.
Fraser Fort George Region
Mackenzie: 84 properties worth $17.4 million were reported sold in 2024, compared with 2023’s 61 properties worth $11.3 million. The median value of the 61 single-family homes that sold in 2024 was $179,000. At year-end, there were 59 properties of all types available through MLS® in the Mackenzie area, up slightly from the 57 properties at the same time in 2023.
Prince George: 1335 properties worth $623.8 million sold in 2024, compared with 1131 properties worth $511.9 million in 2023. At year-end, there were 613 properties of all types available through MLS® compared to 601 properties at the end of 2023.
In the area west of the by-pass, half of the 232 single-family homes sold in 2024, sold for less than $460,000. As well, 27 apartment units and 61 townhouses changed hands in 2024. As of December 31st, there were 16 single-family homes available through MLS® in this area of the City, compared to 45 at the same time last year.
East of the by-pass 39 apartment units, 9 half-duplexes, and 30 townhouses sold in 2024. The 175 single-family homes sold had a median value of $395,000. At the end of December there were 39 single-family homes available for sale through MLS® in this area compared with 41 at the end of 2023.
In the northern part of the city, 17 homes on acreage, 29 manufactured homes in parks and a further 53 manufactured homes on land sold in 2024. Of the 170 single-family homes sold, half sold for less than $547,500. As of December 31st, there were 31 single-family homes available through MLS® in this area of the City compared with 23 at the end of 2023.
In the southwest sector 10 half-duplexes, 32 townhouses, 6 homes on acreage, 9 manufactured homes in parks and a further 11 manufactured homes on land sold in 2024. Half of the 223 single-family homes sold in 2024 sold for less than $584,000. At year-end, there were 31 single-family homes available for sale through MLS® in the southwest sector, compared with the 41 at the end of 2023.