The Northern Real Estate Board  is reporting a very healthy first half  of 2006 when it c omes to MLS sales. 

Sales of just over half a billion dollars ($504  million ) in the first six months, up from $386 million last year.

President Ted Shepard says"Almost every community in our Board area has seen an increase in unit sales and in dollar volume this year,”.T

here has also been an increase in the number of units sold with 3432 properties selling January to June of thise year, that's a 14% increase over last year.

Here are some of the details for Prince George:

Within City limits, sold $153 million worth of real estate from 962 properties of all classifications, compared to last year by this time when 892 properties worth a total of $119.8 million had changed hands. 

In the Bowl area west of the Bypass, there have been 10 apartment units, 11 half duplexes, and 35 townhouses sold, plus 4 manufactured homes in parks in addition to 201 single family houses. The average price of these homes was $126,547 and the median price (half sold for less) of these single family houses was $167,485 and the average days to sale was 24 days.  At month end there were a total of 108 properties of all types available on the MLS® in this area compared to 152 on June 30^th, 2005.

In the area east of the Bypass, 21 apartment units, 11 half duplexes and 23 townhouses have been purchased through the MLS® so far this year.  Half of the 121 single family homes that sold were under $121,000 and took an average of 50 days to sell.  At month end there were 265 properties for sale in this area, compared to 225 a year ago. 

In the north part of the City, there have been 25 manufactured homes in parks and a further 41 on land sold so far this year.  131 single family homes sold for an average price of $212,228 and half of them sold for $195,000 or less.  The average days to sale was 36.  At month end there were a total of 154 properties on the market, compared to 236 available last year.

In the southwest sector of the City, 8 half duplexes, 3 townhouses, 12 manufactured homes in parks, plus 4 on land have been sold by REALTORS® this year so far.  143 single family homes have sold for an average price of $231,206 and a median (half sold for less) of $223,000.  It has taken an average of 35 days to sell these homes.  At month end there were 105 properties available for purchase, compared to 125 last year.

President Shepard attributes the active market to continued confidence in the northern economy. “There’s oil and gas production, increased mining activity, construction of the container port and continued strength in the forest industry – all of these make our region an excellent place to invest. Interest rates remain low, so even with our strengthening property prices, the north is still affordable for families.”

Here is a chart showing the average selling price (year to date)  of single family residential homes in communities covered by the Northern Real Estate Board:

*Fort St. James & Fort Nelson: no previous data available

** Fort St. John previously included Fort Nelson and Vanderhoof previously included Fort St. James