By Shaun Penner

Home sales down across Canada, Grande Prairie in December

Jan 16, 2019 | 5:34 AM

Home sales across Canada were down in December, and Grande Prairie was no exception.

Compared to December of 2017, home sales last month across the country were down 19 per cent, according to the Canadian Real Estate Association, while Grande Prairie was close to that mark at nearly 18 per cent.

According to Grande Prairie and Area Association of Realtors President Brent North, notes that the struggles of the oil and gas industry played a large role in the housing markets struggles.

“That really did slow everybody’s economy here. Real estate was no different.”

In total, 60 homes were sold in the city of Grande Prairie in December. That is compared to 72 in the same month of 2017. While in the County of Grande Prairie, sales stayed even, with 21 sales in December 2018, compared to 20 in 2017.

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One difference that usually effects sales in the area, according to North, is that once values higher values, buyers tend to look to the county as a means of a bit of tax savings.

“Price ranges always tend to be the difference in Grande Prairie. We’ve had a tougher time with houses in the $400,000-$500,000 range, a lot of it due to the taxes in town.” Stated North, “but the hotter price range in the city right now has been the $330,000-$380,000 ranges. It has stayed pretty steady.”

As we look ahead to 2019 though, North is still optimistic that the market will see an upswing but does note that with a Provincial and Federal Election coming up in 2019, it does make for an uncertain housing market.

“Election years can tend to be a little more destabilizing. People don’t know what is going to happen necessarily. That would be my only concern.”

According to the Multiple Listings Service, there are currently 493 residential properties for sale in Grande Prairie.