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By Caden Fanshaw

REAL ESTATE

Prince George real estate market continues to stay hot

Jun 9, 2021 | 3:57 PM

PRINCE GEORGE – It’s not cooling off yet according to data from the month of May.

May broke several records according to BC Northern Real Estate Board data including a new sales record for the month of May, the highest of any month in history.

The average price of a single-detached home in Prince George rose a whopping 20% up to roughly $450,000 according to the BC Northern Real Estate Board.

The homes that are selling, are also selling faster according to many trying to break into the market.

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The toll continues to be taken in first-time homebuyers who continue to deal with multiple offer situations on many homes.

Starter homes in College Heights, the West Bowl, and the Hart continue to see the most demand according to Breanne Cote, Director for the BC Northern Real Estate Board.

Active residential listings numbered 1,663 units on the market at the end of May, down sharply by 20.1% from the end of May 2020.

Active listings haven’t been this low in the month of May in more than 25 years according to real estate data.