Home numbers examined

The Daily News catches up with last weeks property revelations from the Northern B. C. Real Estate Board.

They offered up their take on the state of the realty market in the Northern half of the province as a front page story in Tuesday’s paper.

HOMEBUYERS BLOW ROOF OFF PROPERTY MARKET IN NORTH
By Leanne Ritchie
The Daily News
Tuesday, October 09, 2007
Page one

There is more activity in the local real estate market this year than there was in 2006, according to the B.C. Northern Real Estate Board - and there are fewer homes on the market.
So far, in the first nine months of the year, 201 properties of all types have changed hands in the Prince Rupert area, which includes the Queen Charlotte Islands. These properties have a total value of $35.9 million - up 42.7 per cent over the first nine months of 2006.

Half of the 147 single-family homes sold so far this year sold for less than $150,000. Nine apartment units, three half duplexes and four townhouses have also sold this year.

At month end, there were 163 properties in all categories on the market compared to 172 on Sept. 30, 2006.

Half of the 147 single-family homes sold so far this year sold for less than $150,000. Nine apartment units, three half duplexes and four townhouses have also sold this year.

At month end, there were 163 properties in all categories on the market compared to 172 on Sept. 30, 2006.

Similar results have also been seen in Terrace and other communities throughout the North.
“It is pleasing to see that overall sales have continued to be strong in Northern B. C. Prices remain strong and we have enjoyed good value increases. Sales numbers while up overall, have softened in some areas.” Said Glen Holling, president of the B. C. Northern Real Estate Board.

“The outlook continues to be positive, although we may see a slight leveling off period in the coming months due, in part, to the seasonal nature of real estate business in the North.

“The Northwest region and the Cariboo have continued to reflect quite strong growth, while there has been softening in Prince George and the Peace country,” he added.

And the outlook for the future is promising.

“Despite differing economic factors affecting various regions of our board’s area, we continue to enjoy strong economies with overall positive outlooks and good property values.”

In Prince Rupert, the sale price of the average home has increased from $147,395 in September 2006 to $162,650 in September 2007.

Sales in the northern part of the province in the first nine months of 2007 topped $1 billion – an 18 per cent increase over last year’s $851 million in sales.

To the end of the September, 5,424 properties of all kinds have changed hands in the region, compared with 5,634 in 2006 and 4,935 in 2005.