Homes Sales Up
Wednesday, April 4, 2012 @ 10:41 AM
Prince George, B.C.- The B.C. Northern Real Estate Board is reporting higher sales in the first quarter of this year, compared to the same period in 2011.
Throughout the north, (100 Mile House to the Yukon border) there were 1002 homes sold through the Multiple Listing Service with a total value of $220,464,326 in the first three months of 2012. That’s up from the total sales of 826 homes with a combined value of $174,936,681 as of the end of March 2011.
“There is positive news for both buyers and sellers in the Northern market” comments Board President Joni Brown. “A healthy increase in sales in most areas has resulted in lower inventory of properties, which is good news for sellers. At the same time, buyers still have the benefit of historically low interest rates, suggesting that it is a good time either to enter the market or to upgrade.”
Here is the region by region breakdown, with 2011 values in brackets.
Fraser Fort George Region
City of Prince George: 256 (236) properties of all types, worth $58.6 million ($54.6 million) have changed hands in the first 3 months of 2012 in the City of Prince George.
At the end of March there were 602 (645) properties of all types available on the MLS® within the City limits
In the west part of the City the median price of the 50 single family homes that have sold on MLS® was $223,500 ($211,700).
In the area east of the By-pass, the 36 single family homes that sold had a median value of $170,000 ($157,000).
In the northern part of the City, commonly referred to as “the Hart”, 35 single family homes sold with a median price of $242,000 ($234,400).
In the southwestern section of the City, 48 homes have sold since January with a median price of $286,000 ($298,000). .
Mackenzie: Since January 1st , 31 (24) properties worth $3.6 million ($2.6 million) have changed hands. As of March 31st there were 43 (67) properties available for purchase through the MLS® in the Mackenzie area.
Cariboo Region
100 Mile House and area: A total of 38 (57) properties of all types worth $6.7 million ($10.5 million) have been sold by REALTORS® in the area since the beginning of the year. In addition to the 18 single family homes that sold, 10 parcels of vacant land and 4 homes on acreage changed hands so far this year. At the end of the quarter there were 668 (704) properties available for purchase through the MLS®.
Williams Lake: 63 (53) properties have sold so far this year through MLS® in the Williams Lake area. The value of these properties was $13.3 million ($10.4 million). In addition to the 29 single family homes sold, 13 homes on acreage, 7 manufactured homes in parks and 2 manufactured homes on land have changed hands in the first quarter. As of March 31st there were 414 (409) properties listed on the MLS® in the Williams Lake area.
Quesnel: In the Quesnel area 50 (33) sales worth $8.6 million ($6.1 million) in the first three months of 2012. In addition to the 27 single family homes that sold, 5 parcels of vacant land and 10 homes on acreage have sold this year. There were 271 (263) properties of all types available for purchase through MLS® in the Quesnel area as of March 31st.
Northwest Region
Prince Rupert: 28 (25) properties worth $4.2 million ($4.3 million) have sold through the MLS® so far this year. In addition to 21 single family residential properties, 3 parcels of vacant land and two apartment units have sold. As of March 31st there were 231 (240) properties of all types available for purchase through the MLS® in the Prince Rupert area.
Terrace: 60 (43) properties sold in the first quarter of 2012. The value of these properties was $12 million ($7.4 million). 41 single family homes, 4 manufactured homes in parks and 3 manufactured homes on land have changed hands since January 1st. As of March 31st, there were 220 (201) properties of all types available for sale in the Terrace area.
Kitimat: In the first quarter of 2012, 78 properties (37) worth $13 million ($5 million) have been reported sold. Of those 78 properties, 50 were single family homes, 8 were townhouses and 9 were parcels of vacant land. At the end of March there were 74 (131) properties of all types available for sale through MLS® in the Kitimat area.
Bulkley Nechako Region
Smithers: 65 (42) sales with a value of $14.9 million ($8.8 million) to March 31st, 2012. In addition to the 37 single family homes that sold, 11 parcels of vacant land, 6 homes on acreage and 5 manufactured homes on land changed hands this year. At the end of the first quarter there were 178 (206) properties of all types available for purchase through the MLS® in the Smithers area.
Burns Lake: 22 (12) properties worth $2.8 million ($1.3 million) have changed hands since January 1st. At the end of March there were 104 (108) properties of all types available for sale through the MLS® in the Burns Lake area.
Vanderhoof: 17 (19) sales worth $4 million ($3.5 million) in the first quarter of 2012. At the end of March there were 122 (102) properties available for purchase through the MLS® in the Vanderhoof area.
Fort St. James: In the first quarter of 2012 there were 4 (12) sales worth $1.1million ($1.3 million) in the Fort St. James area. As of March 31st there were 50 (49) properties available on the MLS® in the area.
Northern Region
Fort St. John: In the Fort St. John area, 204 (157) properties worth $55.7 million ($41.3 million) changed hands in the first quarter of 2012. In addition to the 81 single family homes sold, 36 parcels of vacant land, 19 half duplexes, 14 homes on acreage, 15 manufactured homes in parks and 20 manufactured homes on land have sold since January 1. At the end of March there were 369 (457) properties of all types available for purchase through the MLS® in the Fort St. John region.
Fort Nelson: 28 (26) properties worth $9.6 million ($6.9 million) were reported sold through the MLS® since the beginning of the year. At the end of March there were 65 (75) properties available for purchase through the MLS® in the Fort Nelson area.
Residential Detached House Average Selling Price (Year to Date)
|
Community
|
March 31 2010
|
Units
|
March 31 2011
|
Units
|
March 31 2012
|
Units
|
|
100 Mile House
|
222,095
|
21
|
234,690
|
17
|
249,176
|
18
|
|
Williams Lake
|
250,235
|
27
|
212,831
|
19
|
233,082
|
29
|
|
Quesnel
|
197,138
|
18
|
203,800
|
15
|
185,525
|
27
|
|
Prince Rupert
|
207,893
|
28
|
171,909
|
25
|
168,907
|
21
|
|
Smithers
|
199,765
|
20
|
218,760
|
23
|
257,135
|
37
|
|
Burns Lake
|
95,150
|
6
|
128,785
|
7
|
147,032
|
13
|
|
Vanderhoof
|
170,200
|
7
|
149,266
|
7
|
209,800
|
10
|
|
Fort St. John
|
328,187
|
64
|
308,622
|
75
|
340,207
|
81
|
|
Fort Nelson
|
239,490
|
11
|
321,845
|
12
|
344,050
|
10
|
|
Mackenzie
|
83,950
|
22
|
96,260
|
19
|
133,729
|
24
|
|
Prince George
|
246,990
|
168
|
242,936
|
149
|
241,704
|
172
|
|
Terrace
|
210,928
|
21
|
220,213
|
24
|
200,926
|
41
|
|
Kitimat
|
159,500
|
9
|
142,137
|
29
|
170,103
|
50
|
Comments
Wonder why Smithers is so expensive. Higher than PG. Nice area out there.
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