Home Sales Starting to Improve in Northern Region
By 250 News
Thursday, October 01, 2009 04:00 PM
The BC Northern Real Estate Board reports that in the first 9 months of the year 3144 sales worth $645.7 million were recorded, down from 2008’s 4018 sales worth $836.6 million. However, there is a gradual market improvement for the month of September: there were
463 sales worth $96.5 million , that is up from 460 sales worth $90.3 million in September of 2008.
As of September 30th, 2009 there were 4684 properties of all kinds available for sale through MLS®, down from 4860 properties at the end of September, 2008.
President Gary Shannon is optimistic. “The fall market will continue to be strong and I don’t see any major changes in our average house prices. It is still a buyer’s market and there will never be a better time to buy, due to lower prices and great interest rates.” He
continues, “I believe we’ll have a strong spring market and could see an increase in demand prior to the HST coming into effect on July 1, 2010.”
By region
Fraser Fort George
Prince George: In the City of Prince George, to the end of September, 934 properties worth $204.8 million have changed hands, compared to 1047 properties worth $225.9 million to September 30th, 2008.
In the western part of the City, the median price of the 188 single family homes that have sold through MLS® was $202,000 ($214,000 in 2008).
In the area east of the Bypass, the 122 single family homes that sold had a median price of
$173,500 ($179,000 in 2008).
In the northern part of the City, commonly referred to as “the Hart”, the 150 single family homes sold so far this year had median price of $243,500 down from $275,000 in 2008.
In the southwest section of the City, the 173 single family homes sold had a median price of $262,200 ($282,000 in 2008).
Mackenzie: 34 properties worth $3.3 million have sold so far this year, compared with 32 properties worth $3 million to this time last year. As of September 30th there were 152 properties of all types available for purchase through the MLS® in the Mackenzie area,
compared with 120 properties at this time last year.
Cariboo
100 Mile House: So far this year 282 properties worth $59.4 million have changed hands, down from 370 properties worth $79.1 million to the end of September, 2008. Half of the 70 single family homes that have sold, sold for less than $225,000 ($235,000 in 2008) andtook, on average, 119 days to sell (89 days in 2008). In addition, 72 homes on acreage, 6 manufactured homes in parks and 27 manufactured homes on land were sold this year. As of September 30th, 2009 there were 740 properties of all types available for purchase
through the MLS® in the 100 Mile House area compared to 726 properties a year ago.
Williams Lake: 252 properties worth $47.3 million have sold so far this year, compared to 338 properties worth $69.8 million in the same time period last year. Of the 83 single family homes sold to the end of September, half sold for less than $203,000 ($225,000 in
2008) and these homes took, on average, 87 days to sell (69 days in 2008). In addition, 21 parcels of vacant land, 19 townhomes, 55 homes on acreage, 27 manufactured homes in parks and 27 manufactured homes on land have changed hands this year. At the end of
September there were 433 properties of all types available for sale through the MLS® in the Williams Lake area, up from 393 as of September 30th, 2008.
Quesnel: To the end of September 196 properties worth $35.2 million have sold through MLS®, down from 261 properties worth $42.9 million to the 3rd quarter of 2008. However, sales for the month of September showed improvement over September 2008 – 39 properties worth $7 million sold in September 2009 – up from 27 properties worth $5 million in September 2008. Half of the 92 single family homes sold so far this year, sold for less than $185,000 ($170,000 in 2008) and took, on average 57 days to sell (63 days in 2008). In addition, 13 parcels of vacant land, 39 homes on acreage, 18 manufactured homes in parks and 18 manufactured homes on land have sold so far this year. At the end of September there were 282 properties of all types available for purchase through the MLS® in the Quesnel area, down from 311 properties a year ago.
Northwest
Prince Rupert: 82 properties worth $13.8 million changed hands so far this year, down from 124 properties worth $24.9 million to the end of September, 2008. Of the 69 single family homes that have changed hands so far this year, half sold for less than $178,000
($172,500 in 2008) and, on average took 138 days to sell (67 days in 2008). At the end of September, there were 241 properties of all types available for sale through MLS® in the Prince Rupert area, down from last year’s 307 properties.
Terrace: 208 properties worth $35.3 million have sold so far this year, down from 249 properties worth $46.2 million to September 30th of 2008. Half of the 123 single familyhomes sold so far this year, sold for less than $192,000 ($195,000 in 2008) and took on
average 97 days to sell (52 days in 2008). In addition 19 parcels of vacant land, 6 townhomes, 18 homes on acreage, 17 manufactured homes in parks and 13 manufactured homes on land have changed hands. At the end of September there were 266 properties of all types available for sale through MLS® in the Terrace area, down from 291 properties a year ago.
Kitimat: 79 properties worth $12.8 million have changed hands in the first 9 months of 2009, down from 114 properties worth $16.7 million in the same time period last year. Of the 54 single family homes sold so far this year, half sold for less than $159,000 ($172,000
in 2008) and took, on average 95 days to sell (53 days in 2008). In addition, 8 half duplexes, 8 townhomes and 6 homes on acreage have sold so far this year. As of September 30th there were 138 properties of all types available for sale through MLS® in the Kitimat area, compared with 134 properties at the same time last year.
Bulkley Nechako
Houston: 21 properties worth $2.4 million have sold so far this year, down from 35 properties worth $4.8 million to September 30th, 2008. As of September 30th there were 46 properties of all types available for purchase through the MLS® in the Houston area
compared with 43 properties last year at this time.
Smithers: 172 properties worth $34 million have sold to the end of September, 2009 compared with 191 properties worth $40 million to September 2008. Half of the 87 single family homes sold so far this year, sold for less than $218,000 ($217,000 in 2008) and
took, on average, 86 days to sell (51 days in 2008). In addition, 18 parcels of vacant land, 35 homes on acreage, 18 manufactured homes in parks and 7 manufactured homes on land have sold so far this year. At month end there were 231 properties of all types available for purchase through the MLS® in the Smithers area, up from 191 properties at this time last year.
Burns Lake: 68 properties worth $7.8 million sold so far this year compared to 103 properties worth $11.1 million to the end of September, 2008. Of the 33 single family homes sold so far this year, half sold for less than $89,000 ($88,000 in 2008) and took, on
average, 133 days to sell (98 days in 2008). In addition, 4 parcels of land, 4 townhomes, 12 homes on acreage and 8 manufactured homes on land changed hands in the first 9 months of 2009. At the end of September there were 123 properties available for purchase
through the MLS® in the Burns Lake area, down from 167 properties at this time last year.
Vanderhoof: 63 properties worth $9.1 million changed hands in the first 9 months of the year, compared to 115 worth $20.5 million at this time last year. Half of the 21 homes sold so far this year, sold for less than $160,000 ($169,000 in 2008) and took, on average, 111
days to sell (51 days in 2008). At month end there were 129 properties of all types available for purchase through the MLS® in the Vanderhoof area – the same as last year.
Fort St. James: 27 properties worth $2.8 million have sold so far this year compared to 49 properties worth $5.1 million in 2008. At month end there were 66 properties of all types available for purchase through the MLS® in the Fort St. James area, down from 74
properties at the end of September in 2008.
North
Fort St. John: 445 properties worth $113.8 million changed hands in the first 9 months of 2009 compared to 632 properties worth $170.7 million at this time last year. Of the 236 single family homes sold so far this year, half sold for less than $285,000 ($287,500 in
2008) and took, on average 69 days to sell (60 days in 2008). In addition, 52 parcels of vacant land, 26 half duplexes, 28 homes on acreage, 17 manufactured homes in parks and 51 manufactured homes on land have sold this year. As of September 30th there were 572
properties of all types available for purchase through the MLS® in the Fort St. John area,compared with 536 properties at this time last year.
Fort Nelson: To the end of September, 2009 65 properties worth $16.1 million have sold, compared to 118 properties worth $24.6 million to September 30th, 2008. Half of the 37 single family homes sold so far this year, sold for less than $237,000 ($234,900 in 2008)
and took, on average, 66 days to sell (69 days last year). As of September 30th there were 92 properties of all types available for purchase through the MLS® in the Fort Nelson area,compared to 95 properties last year.
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Posted on Thursday, October 01, 2009 04:00 PM in
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Posted by: Oldun on October 1 2009 8:24 PM