Wednesday, May 3, 2017

Slight increase to Prince Rupert Real Estate sales in first three months of 2017

While the community continues to remain in a bit of a holding pattern when it comes to the high profile industrial developments proposed for the region, the Prince Rupert realty scene has noted a slight uptick in sales for the first three months of the year.

The account for the start of 2017 was released last month and from the notes of the BC Northern Real Estate Board, Prince Rupert recorded nine more sales this year than in the same period of 2016.

The Real Estate Board office based out of Prince George reviews the Northern BC real estate picture on a quarterly basis and their first report sets the benchmark for the year ahead for many communities across the region.

Board President John Evans took note of the Northwest in the most recent accounts, offering up a short synopsis to go with the data for the first ninety days.

"In the west, Prince Rupert sales have increased slightly with the sales-dollar volume relatively the same as last year. LNG Canada’s decision to focus their project in Kitimat does not appear to have affected the Prince Rupert market. Kitimat continues to fall slightly on most measures, including the number of sales, listings and average sale price; however, caution must be exercised given the small market and limited data. Sales in Terrace have dropped slightly this year compared to last year."

As for the breakdown by community, the numbers look as follows:

Prince Rupert -- 58 properties worth $14.8 million have been sold through MLS to the end of March, up from 47 properties at this point of 2016.  Of the 58 sold so far this year, 40 were single family residential properties and five were vacant parcels of land.

As of March 31st there were 170 properties listed through MLS in Prince Rupert an increase of 13 properties from one year ago.

Terrace -- 44 properties have been sold to March 31st, with a total value of $11.5 million, down from the 51 properties of a year ago that brought in $15 million. 21 single family homes and 6 manufactured homes have changed hand since January, with 212 properties currently listed on MLS in Terrace, up by four from this point in 2016.

Kitimat -- A decline is the current situation in Kitimat, with 14 properties sold so far in 2017, down from the 20 properties that changed hands one year ago.  The value of the 14 properties was listed at $3 million dollars, down 2.5 million from one year ago. From the housing stock sold this year so far 10 were single family homes, 1 was a half duplex and three were town homes.  At the end of March Kitimat had 102 properties listed on MLS.

Smithers -- Times are good in Smithers, with a increase by twelve from this time last year. So far this year 56 properties have been sold to a value of $13.9 million, which is up from the $9.4 million of 2016. In addition to the 22 single family homes sold in Smithers so far in 2017,  8 parcels of vacant land, 10 homes on acreage and 5 manufactured homes in parks have change hands.

At the end of the first quarter there were 185 properties of all types available for purchase on MLS, that's down from the 221 of one year ago.

You can review the full report for Northern British Columbia here.

For more items related to Real estate on the North Coast see our archive page here.

As well, each Monday we offer up a look at the local real estate listings, providing a look at the ten listings with the highest ask price in the city, you can find that overview from our Real Estate Tracker.

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