Normally one takes statistics from real estate agents with a grain of salt, after all they are in the business of selling the positives, an industry where good things are always within reach. Thus a one bedroom hovel with a view of a drainage ditch becomes a home with lots of potential.
So when you hear word of amazing turnarounds and such you automatically reach for a salt shaker, but the latest numbers from the Northern BC Real Estate board, certainly seem to reflect the common impression of the market in Podunk these days. As any casual observer can see around town, the number of listings turning over to new owners these days is on the rise, as “sold” stickers seem to pop on lawn signs on a daily basis.
From Prince George’s opinion 250 comes confirmation of better days in a story on the state of real estate in Northern BC (take the time to scroll down to the comments section for an interesting cross section of feedback!).
In the last five months, sales in Northern BC from 100 mile to Ft. St. John and Valemount to Prince Rupert have topped over 391 million dollars. This makes for an impressive turn around from days of gloom and doom a short two years ago.
Rupert in fact seems to be among the hottest of the hot at the moment, comparisons in values from May 2005 to May 2006 show a startling increase in the price of housing in our community. In 2005 the average house price in Rupert was 96,881, in May of 2006 your average price of a home is checking in at 143,880 an increase of 46,999 dollars.
With an influx of construction soon to come with the Container Port project and its extended job opportunities, one would assume that the housing market will continue to heat up.
For those that could hold onto to their homes in the dark days of economic distress here, the rewards may soon be coming their way. Of course should they wish to upgrade that too will be more costly. Decisions, decisions…….
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