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Houston real estate sales rose in 2021

The average home sale price is close to $ 250,000

Property sales in Houston nearly doubled in 2021 from the previous year through the multiple registration service, indicating end-of-year statistics released by BC Northern Real Estate Board.

And the dollar value of sales has almost doubled, the information reveals.

In 2021, 58 properties worth $ 15.1 million changed hands compared to 35 properties worth $ 8.2 million in 2020.

Of those 2021 properties that were sold, 37 were single-family homes that carried an average sale price of $ 251,654

This is an increase compared to 21 single-family homes sold in 2020 at an average price of $ 219,618 and the average 2019 price of $ 187,852 for 36 homes sold that year.

Sales data for single-family homes for 2021 do not include manufactured homes, but in the follow-up information, the Real Estate Board noted two manufactured homes on land sold last year.

At Smithers, 261 sales of $ 96.8 million of assets occurred in 2021 compared to 252 sales of $ 83.5 million in 2020.

The average selling price of the single-family homes of the 105 homes that were sold was $ 403,282, up from the average selling price of $ 371,032 of the 96 homes sold in 2020.

There were 34 single-family home sales in Burns Lake in 2021 at an average price of $ 441,647 compared to the average sale price of $ 198,158 of 25 home sales in 2020.

Last year, Tras recorded the highest average selling price among the 15 communities in the Real Estate Council area at $ 467,492.

This was a healthy increase compared to the average 2020 price of $ 400,539 when 163 homes were sold and the average price of $ 398,553 in 2019 when 155 homes were sold.

Immediately behind Terrace at average selling prices in 2021, Prince George was at $ 457,804 with the next Prince Rupert at $ 427,776 and Smithers at $ 403,282.

The cheapest homes in 2021 can be found in Mackenzie in the Northeast at an average price of $ 178,287, with Fort Nelson not far behind, $ 206,844.

In total, the Real Estate Council says there were 6,701 property sales worth $ 2.4 billion in 2021 through the multiple listing service, compared to 2020 data of 5083 sales at $ 1.6 billion.

The Real Estate Board says a combination of very strong sales and record lows pushes prices to record amounts.

"Housing prices have risen by about 28% since the onset of the epidemic and [the fourth quarter of 2020] averaged $ 399,615," the board said in a statement.

The board noted that the listing remains low and expects it to put upward price pressure on homes.

"We anticipate that markets will remain tight until the first half of 2022 before the rise in mortgage rates and the tightening expected by the Bank of Canada will begin to moderate demand," the board said.

 

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