By CKPG Today

Real estate

Average house price in Prince George tops $409K

Oct 9, 2020 | 10:09 AM

PRINCE GEORGE — The year-over-year price of a home in Prince George is up 10.8 per cent.

According to the BC Northern Real Estate Board (BCNERB), the average price of a home was $409,082 on Sept. 30, 2020, up from $369,529 on September 30, 2019.

The BCNERB says 1015 properties worth $376.4 million changed hands to the end of Sept. 2020, compared with 1110 properties worth $386.1 million to Sept.2019.

“In the western part of the city the median price of the 190 homes sold this year, was $364,500. In the area east of the by-pass, the 122 single-family homes that sold had a median price of $295,000,”says the BCNERB.

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“In the northern part of the city, the 129 single-family homes sold had a median price of $412,500. In the southwest section of the city, the median price of the 212 single-family homes sold was $465,000.”

BCNERB President Shawna Kinsley says the third quarter of 2020 saw the second-highest sales on record in the region since data was collected in 1980. She says much of the increase was driven by pent-up demand from sales that did not occur during the spring due to containment measures and record-low mortgage rates.