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Is Prince George slowly becoming less affordable for home buyers?

Is Prince George slowly becoming less affordable for home buyers?
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Home sales in Prince George continue to heat up.
According to the BC Northern Real Estate Board, 160 homes were sold last month, compared to only 51 during the same month in 2020.
The average price of a single-family home in the northern capital stands at $435,000.
Bob Quinlan with RE/MAX Core Realty examines whether or not buyers are rushing into the market while the prices remain affordable.
“Fear of missing out is certainly grabbing on to people and is part of the reason why we are seeing some of this heightened multiple offer situations. However, just because someone has made an offer higher than the asking price is the banks aren’t necessarily accepting the appraiser’s assessment of the property.” ....

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Target Plans To Bring Some New Life To A Downtown Pittsburgh Landmark

Target Plans To Bring Some New Life To A Downtown Pittsburgh Landmark
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House prices soaring in Prince George

House prices soaring in Prince George
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(Photo by MyPGNow.com staff)
The average price for a single-family home in Prince George has gone up 50-grand in just one year.
According to the BC Northern Real Estate Board, the average price last month came in at 456-thousand dollars, up from March of 2020 where it was $406,000.
President, Shawna Kinsley stated the demand continues to outweigh the supply.
“A big issue is low inventory. So, when you combine low inventory with low-interest rates along with some pent-up demand that’s been building over the last year here, you really make for a great seller’s market.” ....

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Yorkton Art Walk! Shop the Talk!

Sask. Lotteries had a Grant opportunity for the Community to apply for and the Library’s program “Cozy up and Color” was successful in their application. This program gave $750 dollars to purchase coloring packages for the community to pick up. 30 packages all handed out and returned gave the YBID an opportunity to use the artwork in local “gallery” locations which of course are the local businesses.
Local businesses signed up with the YBID to be a host location for the available art and have their location visited by the community participating in the Art Walk. YBID also has donated $500 dollars which has been purchased in the local participating businesses as gift certificates to be drawn for on March 26 ....

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With demand for homes rising, Prince George is a "sellers market."

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(Photo supplied by Brendan Pawliw, MyPGNow.com staff)
Home sales and prices in Prince George have seen a 15% year-over-year increase when compared to January and February of 2020.
That’s according to Bob Quinlan with RE/MAX Core Realty.
Quinlan told
MyPGNow.com buyers have zeroed in on a few must-have items when looking to purchase their next home.
“It seems that the reports all around the province that people are looking to work from home, looking for more space, and they have the ability with the lower interest rates to be able to purchase a single-family dwelling with covered parking and a private yard.” ....

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