In the area of Fort St. John, the price of houses continue to increase while the numbers of homes sold have seen a slide. During the first three quarters of 2015, just 78% of homes were sold when compared to the number sold for the same period in 2014. 578 homes were sold in the first three quarters in 2015 compared to the same nine-month period in 2014 when 740 were sold.
The average price of homes continues to rise, however, as September 2015 saw close to a $19,000 increase from September 2014. The average price during the first three quarters in 2015 was $428,904, significantly higher than it was in 2012 when the average price was $353,862.
This trend continued in the fourth and final quarter of 2015 as the year ended with 691 properties sold in Fort St. John after 943 were exchanged in 2014. Total sales in the year were $253.6 million compared to $379 million the year previous.
Experts point to the global commodity slowdown as a reason for this, noting that Northern British Columbia’s economy is largely commodity-driven.
Although sales are down, there is no doubt that Fort St. John is a beautiful place to call home, and with such a diversified economy, there are many opportunities available in a variety of sectors.