Homes Sales Up, So Are Prices
Thursday, July 5, 2012 @ 3:59 AM
Prince George, B.C. – The BC Northern Real Estate Board is reporting increased sales in the first half of 2012 compared to the same 6 months last year.
In the City of Prince George, 659 properties worth $154.7 million have changed hands so far this year, compared with 592 properties worth $136.3 million in the first six months of 2011.
In the western part of the City, the median price of the 135 single family homes that have sold through MLS® was $225,000. In the area east of the Bypass, the 90 single family homes that sold had a median price of $179,500.
In the Hart region, 91 single family homes sold with a median price of $248,500. The 128 single family homes that sold in the southwest section of the City had a median sale price of $310,000.
At the end of June there were 793 properties of all types available for purchase through the MLS® in the City of Prince George.
Overall, 2483 properties have sold in the region between January and the end of June this year, compared to 2153 sales recorded in the same period a year ago. The total value has also increased, with sales of $566.3 million, compared to $463 million in 2011.
Here are the details of other areas within the region:
Mackenzie: In the first six months of 2012, 64 properties worth $8 million were reported sold through the MLS® in the Mackenzie area, compared to 53 properties worth $5.8 million to June 30th, 2011. Half of the 51 single family homes sold so far this year, sold for less than $125,500 and took, on average, 112 days to sell. As of June 30th there were 56 properties of all types available for purchase through the MLS® in the Mackenzie area.
100 Mile House: 126 properties worth $25.2 million have changed hands through the MLS® in the area since January 1st. This compares with 135 properties worth $25.9 million in the same period in 2011. Half of the 47 homes sold so far this year, sold for $218,000 or less and, on average, it took 144 days for these homes to sell. Also reported sold were 32 parcels of vacant land, 22 homes on acreage, 4 manufactured homes in parks and 9 on land and 7 recreational properties. At the end of June there were 900 properties of all types available for purchase through the MLS® in the 100 Mile House area.
Williams Lake: 156 properties have sold so far this year, compared to 167 properties by June 30th of 2011. The value of these properties is $32.9 million ($34.9 million in 2011). Of the 62 single family homes sold this year, half sold for less than $233,000. These homes took, on average, 66 days to sell. In addition, 9 parcels of vacant land, 6 townhouses, 37 homes on acreage, 14 manufactured homes in parks and a further 20 on land changed hands in the first six months of 2012. At the end of June there were 482 properties of all types available for purchase through the MLS® in the Williams Lake area.
Quesnel: In the Quesnel area, REALTORS® reported 148 sales worth $25.9 million so far this year, compared to 105 sales worth $20.5 million in the first six months of 2011. Of the 67 single family homes sold between January and June, half sold for less than $205,000; these homes took, on average, 85 days to sell. In addition, 23 parcels of vacant land, 29 homes on acreage, 5 manufactured homes in parks and 17 manufactured homes on land have sold in the first six months of 2012. As of June 30th there were 366 properties of all types available for purchase through the MLS® in the Quesnel area.
Prince Rupert: 83 properties worth $14.2 million have been reported sold through the MLS® in the Prince Rupert area so far this year, compared to 56 properties worth $10.35 million in the first half of 2011. The median price of the 65 single family homes that sold was $180,000. On average, it took these homes 113 days to sell. As of June 30th there were 271 properties of all types available for purchase through the MLS® in the area.
Terrace: REALTORS® in the Terrace area sold 150 properties worth $29.3 million in the first six months of 2012, compared to 135 properties worth $25 million in the same period last year. Half of the 93 single family homes that sold, sold for less than $199,000. On average, it took these homes 71 days to sell. In addition, 11 parcels of vacant land, 5 half duplexes, and 14 homes on acreage changed hands in the first 6 months of the year. At the end of June there were 287 properties of all types available for purchase through the MLS® in the Terrace area.
Kitimat: 163 properties worth $28.8 million have sold through the MLS® in the Kitimat area in the first six months of 2012, compared to 85 properties worth $12 million at this time last year. Half of the 92 single family homes sold so far this year, sold for less than $159,900 and, on average it took these homes 62 days to sell. At the end of June there were 77 properties of all types available for purchase through the MLS® in the Kitimat area.
Houston: 25 properties worth $4.1 million have changed hands so far this year, compared to 20 properties worth $3.3 million in 2011. As of June 30th there were 60 properties of all types available through the MLS® in the Houston area.
Smithers: REALTORS® in the Smithers area reported 142 sales with a value of $35.2 million in the first six months of 2012, compared to 125 sales worth $26.2 million at this time last year. Half of the 74 single family homes sold so far this year, sold for less than $250,000 and took, on average, 75 days to sell. 22 parcels of vacant land and 25 homes on acreage also changed hands since January 1st. As of June 30th there were 193 properties of all types available through MLS® in the Smithers area.
Burns Lake: In the first six months of 2012, 32 properties worth $4.2 million were reported sold through the MLS® in the Burns Lake area, compared to 33 properties worth $3.5 million in the same time period last year. At the end of June there were 137 properties of all types available for purchase through the MLS® in the Burns Lake area.
Vanderhoof: REALTORS® in the Vanderhoof area reported 54 sales worth $10.7 million in the first six months of the year, compared to 36 sales worth $6.8 million to June 30th of 2011. As of June 30th there were 173 properties of all types available for purchase through the MLS® in the Vanderhoof area.
Fort St. James: 17 properties worth $3.6 million have sold through the MLS® in the Fort St. James area so far this year, compared with 22 properties worth $3.2 million in the first six months of 2011. At the end of June there were 65 properties of all types available for purchase through the MLS® in the Fort St. James area.
Fort St. John: REALTORS® assisted in the sale of 461 properties worth $140.9 million in the first half of 2012, compared to 374 properties worth $103.4 million in the first six months of 2011. The 193 single family homes which sold so far this year had a median selling price of $353,000 and it took, on average, 54 days for these homes to sell. In addition, 73 parcels of vacant land, 46 half duplexes, 36 homes on acreage, 25 manufactured homes in parks and 45 manufactured homes on land changed hands so far this year. As of June 30th there were 373 properties of all types available for purchase through the MLS® in the Fort St. John area.
Fort Nelson: 48 properties worth $14.9 million have sold since January 1st, compared to 67 properties worth $16.5 million in the same period last year. Half of the 19 single family homes sold since January, sold for less than $309,000. These homes took, on average, 72 days to sell. At the end of June there were 86 properties of all types available for purchase through the MLS® in the Fort Nelson area.
Average Selling Price (Year to Date)
Residential Detached House
BC NORTHERN REAL ESTATE BOARD
|
Community
|
June 30/09
|
Units
|
June 30/10
|
Units
|
June 30/11
|
Units
|
June 30, 2012
|
Units
|
|
100 Mile House
|
227,817
|
39
|
220,669
|
52
|
226,682
|
38
|
244,377
|
47
|
|
Williams Lake
|
226,125
|
48
|
249,213
|
78
|
233,934
|
66
|
244,903
|
62
|
|
Quesnel
|
193,403
|
40
|
197,666
|
54
|
200,390
|
42
|
193,954
|
67
|
|
Prince Rupert
|
184,157
|
35
|
202,324
|
59
|
193,534
|
50
|
193,223
|
65
|
|
Houston
|
|
|
|
|
137,300
|
10
|
142,993
|
16
|
|
Smithers
|
225,537
|
50
|
211,510
|
55
|
224,059
|
66
|
262,827
|
74
|
|
Burns Lake
|
98,373
|
19
|
146,957
|
14
|
123,368
|
16
|
143,337
|
19
|
|
Vanderhoof
|
166,638
|
13
|
171,200
|
22
|
177,884
|
15
|
210,580
|
30
|
|
Fort St. James
|
131,666
|
3
|
171,145
|
12
|
104,142
|
7
|
243,600
|
5
|
|
Fort St. John
|
291,194
|
148
|
326,197
|
179
|
310,686
|
172
|
348,683
|
193
|
|
Fort Nelson
|
255,936
|
25
|
234,803
|
26
|
325,286
|
25
|
329,594
|
19
|
|
Mackenzie
|
106,291
|
12
|
90,565
|
54
|
103,047
|
44
|
134,004
|
51
|
|
Prince George
|
231,478
|
399
|
248,602
|
437
|
247,277
|
403
|
247,435
|
448
|
|
Terrace
|
207,525
|
77
|
202,342
|
57
|
208,044
|
79
|
211,733
|
93
|
|
Kitimat
|
178,558
|
33
|
153,886
|
36
|
149,565
|
63
|
176,012
|
92
|
Comments
Dawson Creek seems to be missing. Wonder how they do in relation to Fort St. John
I’d say Dawson creek is up there too.
These stats are from the BC Northern Real Estate Board of which Dawson Creek does not belong. Along with Chetwynd, and Tumbler Ridge they belong to the South Okanagan Real Estate Board.
A Salesman allways a Salesman no matter what Vacuum Cleaners , used Cars,Carpets ,buy now it never been a better time. To many Homes are just not selling they are overpriced OSB Shacks, this whole thing will collapse ! Everyone thinks he can go out and buy a House with 5% down (from the Bank) and make Money on it, keep on dreaming the Ride will be over soon.
Outwest – I’m pretty sure my grampa yelled that exact speach out about 40 years ago.
That makes perfect sense, I am sure, tbulmer. LOL.
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