Home Sales and Prices Up in P.G.
Friday, October 5, 2012 @ 3:51 AM
Prince George, B.C. – As of the end of September, residential real estate sales in Prince George are the highest they’ve been in three years.
The latest stats from the B.C. Northern Real Estate Board say 677 detached homes have sold so far this year, and the average price was just shy of $252 thousand dollars. Last year, the year to date home sales were 645 and the average price was $245.5 thousand.
The Board also says there are fewer properties listed throughout the region as of the end of September compared to the same period last year. As of September 30th there were 4889 properties of all types available for sale through the MLS®, down from 5076 properties at the end of September last year.
Here are the details, region by region:
Fraser Fort George
Prince George: In the City of Prince George, to the end of September, 980 properties worth $234.2 million changed hands, compared with 947 properties worth $214.2 million to September 30th, 2011. In the western part of the City the median price of the 204 homes sold this year, was $228,500. In the area east of the By-pass, the 131 single family homes that sold had a median price of $179,500. In the northern part of the City, in the area commonly referred to as “the Hart’, the 141 single family homes sold had a median price of $262,500. In the southwest section of the city, the median price of the 194 single family homes sold was $312,000. At the end of September, there were 840 properties of all types available for purchase through MLS® in the City of Prince George.
Mackenzie: In the first nine months of 2012 95 properties worth $12.3 million were reported sold through MLS® in the Mackenzie area, compared with 78 properties worth $8.2 million to September 30th, 2011. Half of the 74 single family homes sold so far this year, sold for less than $131,900 and these homes took, on average, 92 days to sell. At the end of September there were 60 properties of all types available for purchase through MLS® in the Mackenzie area.
Cariboo
100 Mile House: So far this year 233 properties worth $44.7 million have changed hands, compared to 224 properties worth $43.2 million to the end of September in 2011. Half of the 74 single family homes that have sold, sold for less than $229,000 and took, on average, 149 days to sell. In addition, 61 parcels of vacant land, 45 homes on acreage, 9 manufactured homes in parks and a further 19 manufactured homes on land, as well as 17 recreational properties have sold this year. As of September 30th there were 864 properties of all types available for purchase through the MLS® in the 100 Mile House area.
Williams Lake: 237 properties worth $51.6 million have sold in the first nine months, compared to 258 properties worth $53.5 million in the same period last year. Of the 92 single family homes sold to the end of September, half sold for less than $235,000 and these homes took, on average, 65 days to sell. In addition, 17 parcels of vacant land, 9 townhomes, 63 homes on acreage, and 21 manufactured homes in parks and a further 23 on land, have sold this year. At the end of September there were 523 properties of all types available for purchase through MLS® in the Williams Lake area.
Quesnel: To the end of September 232 properties worth $40.5 million sold through MLS® compared to 179 properties worth $32.8 million to the end of the third quarter of 2011. Half of the 102 single family homes sold so far this year, sold for less than $215,000 and took, on average, 79 days to sell. Also changing hands this year were 35 parcels of vacant land, 47 homes on acreage, 14 manufactured homes in parks and 22 manufactured homes on land. At the end of September there were 359 properties of all types available for purchase through the MLS® in the Quesnel area.
Northwest
Prince Rupert: 124 properties worth $21.9 million changed hands so far this year in the Prince Rupert area, compared with 83 properties worth $14.5 million to the end of September, 2011. Of the 98 single family homes that have changed hands this year, half sold for less than $181,000 and on average, took 110 days to sell. As of September 30th there were 250 properties of all types available through the MLS® in the Prince Rupert area.
Terrace: In the first nine months of the year, 248 properties worth $52.1 million were reported sold in the Terrace area, compared to 219 properties worth $41.5 million during the same period last year. Half of the 148 single family homes that have sold so far this year, sold for less than $213,000 and these homes took, on average, 67 days to sell. Also changing hands were 21 parcels of vacant land, 6 multi-family dwellings, 24 homes on acreage, 20 manufactured homes in parks and 10 manufactured homes on land. At the end of September there were 254 properties of all types available through the MLS® in the Terrace area.
Kitimat: 212 properties worth $35.1 million have changed hands in the first nine months of 2012, compared to 133 properties worth $18.6 million to September 30th of 2011. Of the 114 single family homes sold so far this year, half sold for less than $162,000. These homes took, on average 57 days to sell. In addition, 14 parcels of vacant land, 48 half duplexes and 19 townhomes were also sold this year. At the end of September there were 106 properties of all types available through the MLS® in the Kitimat area.
Bulkley Nechako
Houston: To the end of September, 42 properties worth $6.4 million sold in the Houston area, compared with 39 properties worth $6.6 million in the same period last year. At the end of September there were 50 properties of all types available for purchase through MLS® in the Houston area.
Smithers: As of September 30th, 192 properties worth $47.6 million changed hands in the Smithers area, compared with 211 properties worth $44.7 million in the first nine months of 2011. Half of the 96 single family homes sold so far this year, sold for less than $250,000 and these homes took, on average, 70 days to sell. Also changing hands this year were 28 parcels of vacant land, 42 homes on acreage, 8 manufactured homes in parks and 12 manufactured homes on land. As of September 30th, there were 218 properties of all types available through the MLS® in the Smithers area.
Burns Lake: So far this year 48 properties worth $6.2 million have been reported sold through MLS® compared to 61 properties worth $6.9 million in the first nine months of 2011. At the end of September there were 146 properties of all types available for sale through the MLS® in the Burns Lake area.
Vanderhoof: REALTORS® assisted in the sale of 99 properties worth $17.9 million in the first nine months of the year compared with 76 properties worth $15.1 million in the same time last year. Half of the 52 single family homes sold so far this year, sold for less than $181,250 and these homes took, on average, 71 days to sell. Also changing hands were 16 parcels of vacant land and 18 homes on acreage. At the end of September there were 160 properties of all types available through MLS® in the Vanderhoof area.
Fort St. James: 29 properties worth $6.7 million were reported sold to the end of September, compared to 39 properties worth $6.2 million in the same period last year. As of September 30th there were 77 properties of all types available for purchase through MLS® in the Fort St. James area.
North
Fort St. John: As of September 30th 671 properties worth $214.3 million were reported sold in the area, compared to 572 properties worth $161.5 million to September 30th of 2011. Half of the 292 single family homes sold so far this year, sold for less than $354,900; these homes took, on average, 47 days to sell. In addition, 92 parcels of vacant land, 61 half duplexes, 57 homes on acreage, 37 manufactured homes in parks and a further 69 manufactured homes on land, were reported sold. At the end of September there were 405 properties of all types available for purchase through MLS® in the Fort St. John area.
Fort Nelson: 74 properties worth $22.5 million have sold in the first nine months of 2012, compared with 105 properties worth $26.7 million to the end of September 2011. Of the 30 single family homes sold so far, half sold for less than $326,000. These homes took 69 days to sell, on average. Also changing hands were 11 parcels of vacant land, 4 homes on acreage, 8 manufactured homes in parks and 10 manufactured homes on land. As of September 30th there were 94 properties of all types available for purchase through MLS® in the For Nelson area.
Average Selling Price (Year to Date)
MLS Reported Sales – Residential Detached House
BC NORTHERN REAL ESTATE BOARD
|
Community
|
September 2009
|
Units
|
September 2010
|
Units
|
September 2011
|
Units
|
September 2012
|
Units
|
|
100 Mile House
|
241,381
|
70
|
230,471
|
77
|
$227,243
|
59
|
$239,667
|
74
|
|
Williams Lake
|
222,705
|
83
|
250,840
|
107
|
$235,212
|
106
|
$255,753
|
92
|
|
Quesnel
|
188,298
|
92
|
198,384
|
95
|
$195,726
|
74
|
$199,045
|
102
|
|
Prince Rupert
|
176,146
|
69
|
189,815
|
80
|
$185,149
|
72
|
$193,691
|
98
|
|
Houston
|
132,064
|
14
|
152,672
|
11
|
$148,526
|
19
|
$140,267
|
26
|
|
Smithers
|
225,623
|
87
|
215,608
|
81
|
$229,763
|
104
|
$258,538
|
96
|
|
Burns Lake
|
103,524
|
33
|
127,706
|
31
|
$128,896
|
30
|
$136,855
|
29
|
|
Vanderhoof
|
162,142
|
21
|
174,451
|
27
|
$184,064
|
32
|
$197,043
|
52
|
|
Fort St. James
|
157,142
|
7
|
172,216
|
15
|
$141,700
|
15
|
$232,873
|
13
|
|
Fort St. John
|
297,862
|
236
|
321,619
|
262
|
$319,691
|
272
|
$353,862
|
292
|
|
Fort Nelson
|
263,767
|
37
|
237,854
|
35
|
$314,988
|
46
|
$328,906
|
30
|
|
Mackenzie
|
96,770
|
24
|
91,699
|
86
|
$104,543
|
64
|
$138,596
|
74
|
|
Prince George
|
232,123
|
641
|
242,702
|
633
|
$245,542
|
645
|
$251,968
|
677
|
|
Terrace
|
197,625
|
123
|
202,856
|
95
|
$218,150
|
125
|
$219,242
|
148
|
|
Kitimat
|
172,350
|
54
|
149,642
|
57
|
$150,668
|
99
|
$175,959
|
114
|
Comments
It would be nice to have the average assessed value for the same communities and their catchement areas to compare how well the prices for the average sale is doing.
I really have an issue with this bull@&*! about housing numbers when I have seen three houses across the street from me not sell,and are now all rented out.On top of that one of them is back on the market again,plus another down the street for sale,and all of this in the area of College Heights.
Jakeadoo
These are nothing but statistics of what has happened in the majority of the real estate market place. The sales are between buyers and sellers and reflect what the value are of the properties that sold, nothing more, nothing less.
Those house that don`t sell did not meet the market test which is value in the eye of both the seller and buyer.
What someone does with their home if it doesn`t sell can be a real tough call. Lowering price to what the market is or rent, always an option.
Gus
As a Realtor for five years I tried to correlate selling prices versus assessed value and let me tell you there is no linear correlation….assesed values do not reflect market conditions nor the conditin of the individual home. Market is fluid and does change day by day, where as assessed values are set once a year and are a mirror of market, but in the rear view mirror of up to two years.
Comments for this article are closed.