Prince George, B.C. – Although regionally, the number of real estate sales  through the Multiple Listing Service were down in the first half of the year, the  BC Northern Real Estate Board (BCNREB) reports the value of the properties is up.

 

In the first half of this year,  2363 properties sold through MLS® compared to 2483 in the same period of 2012.

 

The 2013 value was $579.9 million, compared to the sales value of $566.2 million in the first half of 2012.

 

Reduced sales but higher values were also the case in the Prince George area with 636 properties worth nearly $159 million sold through MLS from January to June of this year, compared to 659 sales vlued at nearly $155 million during the same six months in 2012.

 

“The North and in particular the Northwest regions of our Board area continue to experience a strong housing market” says BCNREB President Gisela Janzen. She says the Central and Southern regions of the Board remain stable and fairly unchanged largely because of a slow economic recovery in the rest of the province.  “Forecasts of an improving economy during the second half of the year leading into 2014 should trigger a gradual increase in overall sales activity. With interest rates remaining relatively low coupled with a large supply of homes for sale, it is a good time for buyers to enter the market.”

 

 

 

Here is the BCNREB’s region by region report:

 

Prince George: 636 properties worth $158.7 million have changed hands so far this year, compared with 659 properties worth $154.7 million in the first six months of last year. In the western part of the City, the median price of the 140 single family homes that have sold through MLS® was $227,000. In the area east of the Bypass, the 92 single family homes that sold had a median price of $180,000. In the northern part of the City, commonly referred to as “the Hart”, 81 single family homes sold with a median price of $282,000. The 129 single family homes that sold in the southwest section of the City had a median sale price of $315,000. At the end of June there were 835 properties of all types available for purchase through the MLS® in the City of Prince George.

Mackenzie: In the first six months of 2013, 46 properties worth $7.6 million were reported sold through the MLS® in the Mackenzie area, compared to 64 properties worth $8 million to June 30th, 2012. Half of the 33 single family homes sold so far this year, sold for less than $140,000 and took, on average, 113 days to sell. As of June 30th there were 85 properties of all types available for purchase through the MLS® in the Mackenzie area.

 

100 Mile House: 149 properties worth $28.2 million have changed hands through the MLS® in the area since January 1st. This compares with 126 properties worth $25.1 million in the same period in 2012. Half of the 42 homes that sold so far this year, sold for $225,000 or less and, on average, it took 167 days for these homes to sell. Also reported sold were 37 parcels of vacant land, 34 homes on acreage, 2 manufactured homes in parks, 14 on land, and 14 recreational properties. At the end of June there were 891 properties of all types available for purchase through the MLS® in the 100 Mile House area.

 

Williams Lake: 167 properties have sold so far this year, compared to 156 properties by June 30th of 2012. The value of these properties is $35 million ($32.8 million in 2012). Of the 60 single family homes sold this year, half sold for less than $232,000 and these homes took, on average, 54 days to sell. In addition, 15 parcels of vacant land, 8 townhouses, 44 homes on acreage, 12 manufactured homes in parks and a further 15 on land changed hands in the first six months of 2013. At the end of June there were 501 properties of all types available for purchase through the MLS® in the Williams Lake area.