Panel data provided by Madison's Canadian Lumber Reporter.

2005 Real Estate Success Story for Prince George

By 250 News

The annual figures  have been released on real estate sales in Prince George and  other northern regions.  There is good news for sellers, the number of sales is up, and the prices have increased.  On the downside, the number of available properties has slipped, meaning supply may not be able to meet demand so buyers may have to pay more on a reduced selection.
                
                         
Here are some of the residential highlights for Prince George:

Type	2004	2005
Condos	152	210
Mobile Homes	64	80
Single Family on less than 1 acre	1073	1262
Vacant Land	68	97
TOTAL ALL PROPERTIES	1537	1842

There were  513 properties of all types available for sale  through MLS in the City of Prince George at the end of the year, compared to  569 properties on the market at the end of 2004.

The President of the  BC Northern Real Estate Board, Delores St Amand says the sales figures spell good things for the area "The increase in vacant land sales inmany of our areas bodes well for the continued boom in the construction industry in wood, particularly in the construction of new homes."  

The average price for a single family residential home also increased throughout the  north:

Community	2004 Av	2004 Units	2005 Av	2005 Units
Pr. George	$129,761	1,073	$147,821	1262
Mackenzie	91,894	37	97,752	61
Quesnel	98,632	181	116,061	226
Vanderhoof	102,772	73	105,206	90
Ft.St.John	162,986	424	194,053	500
Terrace	119,019	160	126,612	193

St. Amand says the outlook for the entire north and northwest regions is bright as the proposed Enbridge pipeline to Kitimat, the completion of the container port in Prince Rupert, the OSB  plant in Ft. St John and the benefits from the oil, gas and mining sectors all indicate strong economies.

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