Prince George, B.C.- The BC Northern  Real Estate Board is reporting more real estate sales in Prince George last year, compared to 2010 although the increase is marginal.

 

In it’s annual report,  the BC Northern Real Estate Board (BCNREB) reports there were 1197 properties worth $272.1 million dollars sold in 2011. That compares to 1151 properties worth $245.3 million sold in Prince George in 2010.

 

Throughout the northern region, there were 4,456 property sales worth $951.6 million in 2011 through the up from last year’s 4,300 sales worth $867.3 million.

 

Board President Victor Prystay comments: “Notwithstanding a slow start in the first quarter of 2011 the northern B.C. real estate market ended the year on a positive note with the numbers of sales and average sales prices in the majority of communities up over 2010 and with the communities of Prince George, Terrace, Kitimat, Houston, Smithers, and the Peace River particularly showing positive increases in both activity and average sale price.” He continues “Listing inventory, on the other hand, is generally down throughout the region and with interest rates continuing at record lows it seems reasonable to expect the market to move into more positive territory in 2012, from what has been, generally speaking, a buyer’s market, to a more balanced, or perhaps even, a seller’s market.”

 

Here is breakdown for different areas of Prince George:

 

In the area west of the by-pass, half of the 270 single family homes that sold, sold for less than $216,000. As well, 16 apartment units and 27 townhomes, changed hands in 2011. As of December 31 there were 49 single family homes listed through MLS® in this area of the City, compared to 49 at the same time last year.

East of the by-pass 13 apartment units, 11 half duplexes, and 9 townhomes sold in 2011. The 129 single family homes sold had a median value of $174,900. At the end of December there were 57 single family homes available for sale through MLS® in this area, compared with 42 at the end of 2010.

 

In the northern part of the city, commonly referred to as ‘the Hart’, 28 homes on acreage, 23 manufactured homes in parks and a further 41 manufactured homes on land sold in 2011. Of the 168 single family homes sold, half sold for less than $254,000. As of December 31^st there were 50 single family homes available through MLS® in this area of the City compared with 47 at the end of 2010.

 

In the southwest sector 12 half duplexes, 17 townhomes, 11 homes on acreage and 15 manufactured homes in parks sold in 2011. Half of the 248 single family homes sold in 2011 sold for less than $296,000. At year end there were 69 single family homes available for sale through MLS in the southwest sector, compared with 57 at the end of 2010.

 

Here are the overall stats for other communities: