October 2020 Housing Update
September was another exciting month in the Prince George housing market. Sales were up significantly (41%), listings were down significantly (-31%) creating a very hot market around the city. Competitive offers were a regularity, and homes were not lasting long (Median Days on Market - 13). There were 101 new lisitngs which was just above what we saw last year (+9.8%). Homes were selling withing 2% of their original list price overall. Average price/sq ft was $193 up 14% from last year. We only have a 2.5 month supply of homes, which puts us in a heavy seller's market.
If you're a Seller, you'll be happy to know that if your home is market well, priced right, and you've got a strong negotiator on your side - you will do well.
Buyers - be prepared to competed for the best properties, and understand that selection is not a luxury of the current market.