The number of homes sold through the MLS® System of the BC Northern Real Estate Board totaled 249 units in February 2024. This was an advance of 41.5% from February 2023.
Home sales were 2.7% below the five-year average and 2.1% above the 10-year average for the month of February.
On a year-to-date basis, home sales totaled 410 units over the first two months of the year. This was up by 23.1% from the same period in 2023.
“Sales activity went from being at 14-year lows last February back up to average levels in February 2024, recording an identical but reversed year-over-year change compared to last February’s more than 40 percent drop,” said Breanne Cote, Chair of the BC Northern Real Estate Board. “Our local market is still within balanced territory as inventories are trending sideways, with higher demand keeping pace with new supply. With BC’s recently announced home flipping tax we’re keeping an eye on whether this will prompt a pull-forward in demand throughout this year in advance of its implementation or if this activity will be masked by a strong recovery.”
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