The number of homes sold through the MLS® System of the BC Northern Real Estate Board totaled 358 units in April 2024. This was an increase of 24.3% from April 2023.
Home sales were 2.5% above the five-year average and 2.2% below the 10-year average for the month of April.
On a year-to-date basis, home sales totaled 1,052 units over the first four months of the year. This was a sizable gain of 15.7% from the same period in 2023.
“Sales and new listings both continued their upward trends in April, with sales activity coming in on par with the long-term average for this month and new listings posting higher than average levels,” said Kristine Newell, Chair of the BC Northern Real Estate Board. “Home sales are already running at a healthy lead over last year’s showing over the first four months of the year and our market is firmly in balanced territory. With a generally more affordable housing market compared to other regions in the province we’ve seen more resilience to interest rate changes, a faster rebound in activity, and healthier levels of demand.”
The average price of homes sold in April 2024 was $434,772, increasing by 7.8% from April 2023.
The more comprehensive year-to-date average price was $414,629, a gain of 7.6% from the first four months of 2023.
The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available over a vast geographic area (the Board serves an area covering over 600,000 square kilometers or 72% of the province).
The dollar value of all home sales in April 2024 was $155.6 million, up sharply by 34% from the same month in 2023.
The number of new listings saw a substantial increase of 35.8% from April 2023. There were 793 new residential listings in April 2024.
New listings were 20.1% above the five-year average and 8.9% above the 10-year average for the month of April.
Active residential listings numbered 1,892 units on the market at the end of April, a sizable gain of 12.8% from the end of April 2023. Active listings haven’t been this high in the month of April in five years.
Active listings were 11.6% above the five-year average and 9.7% below the 10-year average for the month of April.
Months of inventory numbered 5.3 at the end of April 2024, down from the 5.8 months recorded at the end of April 2023 and below the long-run average of 6.2 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The BC Northern Real Estate Board is an association of about 410 REALTORS® that provides services to and sets standards for members.
The BC Northern Real Estate Board covers the northern part of British Columbia, including Bulkley-Nechako, Cariboo, Fraser Fort George, Peace River/Fort Nelson, and Skeena/North Coast.
The BC Northern Real Estate Board is an association of over 410 REALTORS® that provides services to and sets standards for members.
The BC Northern Real Estate Board covers the northern part of British Columbia, including Bulkley Nechako, Cariboo, Fraser Fort George, Peace River/Fort Nelson, and Skeena/North Coast.
