There was a drop in home sales in northern B.C. in the first quarter of 2026, according to newly released data by the BC Northern Real Estate Board that show softer activity alongside rising inventory.
A total of 825 homes were sold using MLS® in the three months under review compared to 911 during the same period in 2025. The total value of those sales was also down to $348 million.
Listings have been on the increase, as the number of homes listed stood at 2,923 as of Mar 31, compared to 2,660 units a year earlier.
Seasonally adjusted figures show that activity remained below normal by 9.1 per cent, while the average home price came down to $433,250.
The board says most northern communities saw declines in sales, including Terrace and Kitimat. Factors include uncertainty at the Bank of Canada, rising oil prices, and U.S. tariffs. The sales-to-active listings ratio sits at 18 per cent.
During the first quarter of 2026, there were an estimated 50 properties sold in Terrace, down from 58 in the previous year. The total value of those sales was estimated to be $21.9 million, dropping from $28.2 million in 2025. There were 120 active listings at the end of March, falling from 133 in the previous year. The average price per home in Terrace was estimated to be around $490,317 across 23 sales, which is lower than the $545,067 in 2025 and $512,569 in 2024.
On the other hand, the number of sales in Kitimat increased from 27 in 2025 to 37 in 2026. In terms of the value of those sales, it rose from $10.8 million in the previous year to $12.9 million in 2026. As of Mar 31 of this year, there were 83 active listings, which remained the same compared to 2025. The average price per home has been increasing in recent years. That trend has remained the same this year, with the average price being $446,525. In comparison, the average price of a home in 2025 was $413,095, and $393,413 in 2024.
According to the board, any future market conditions within the Northern regions will be dependent on economic stability at both national and global levels, as well as continued cost-effectiveness within the regions.
