February 2021 Housing Update Prince George, BC
What a start to the year it has been! I've never seen a January quite like this one. Let's take a quick look at stats:
Sales 60 + 53.8%
Active Listings 75 - 47.9%
New Listings 66 - 5%
Median Days on Market 25.5 - 34.6%
% of Original Price 98.5 %
Average Price Per Sq Ft. 192 + 12.3%
Average Sales Price $429,777 + 13.1%
Supply 1 Month
In short, there is extremely low inventory, while still seeing a major increase in Buyer activity. Essentially, homes are being bought at nearly twice the rate, year over year.
Have your ducks in a row. Make sure you understand that now is not the time to watch and wait if you are concerned about price. The best time to buy is yesterday, if you're looking for "a deal".
While homes are selling very well, it is still crucial to prepare, market and price your home correctly in order to put the most money in your pocket and keep the process as stress free as possible.
Thanks for checking this out, let me know if I can help you out in any way.