January 2021 Housing Update

December some unprecedented activity in the  Prince George housing market.  Sales were up  (9.1%), listings were down significantly (-44%) as the demand for housing conitnued to rise.  Competitive offers were almost guaranteed, and homes were not lasting long (Median Days on Market - 30).  The really standout thing from December was the change in sales/active listings ratio - which was at 0.64 compared to 0.33 last  year.  That's a 95% rise, essentially meaning that homes were being bought at twice the rate given the same amount of selection.  Homes were selling withing 1.8% of their original list price overall.  Supply is sitting at only 1 Month, which is beyond lond.  Demand is up, supply is lower than ever.

If you're a Seller, you have the luxury of having a great time to sell even in the dead of winter!  

Buyers - be prepared to competing for the most properties, and understand that selection is not a luxury of the current market.