Opinion 250 has produced a list of data from the Northern BC Real Estate Board, details of MLS listings across the North that provide a snap shot of the real estate market at the end of March 2008.
Of interest to the Northwest will be the figures out of Terrace, Kitimat and Prince Rupert, which show that Terrace is still the hottest of the three markets, with 65 properties worth $12.7 million changing hands so far this year, compared to 62 properties worth $7.6 million in the first quarter of 2007.
That’s an increase of about 3.2 million dollars in value from the Prince Rupert numbers which showed figures of 47 properties worth $9.5 million changing hands through the MLS® in the Prince Rupert area this year, compared to 60 properties worth $12.5 in the first quarter of 2007. While the number of houses sold around the city is down from last year, the number that are on the market is up considerably.
Of interest to the Northwest will be the figures out of Terrace, Kitimat and Prince Rupert, which show that Terrace is still the hottest of the three markets, with 65 properties worth $12.7 million changing hands so far this year, compared to 62 properties worth $7.6 million in the first quarter of 2007.
That’s an increase of about 3.2 million dollars in value from the Prince Rupert numbers which showed figures of 47 properties worth $9.5 million changing hands through the MLS® in the Prince Rupert area this year, compared to 60 properties worth $12.5 in the first quarter of 2007. While the number of houses sold around the city is down from last year, the number that are on the market is up considerably.
At the end of March there were 167 properties listed locally, last year at this time there were only 126 listed. So Rupertites aware of the promotion of a "boom" whether warranted or not, are busy trying to sell their properties while the prices remain at an elevated level.
Kitimat pulled up the rear of the three Northwest cities; where 36 properties worth $4.4 million sold through the MLS® in Kitimat and area in the first quarter of 2008, up from 26 properties worth $3.2 million in the first 3 months of 2007.
Median house prices in the northwest ranged from Kitimat’s $139,000, to Terrace’s $200,000, Prince Rupert despite some of the pricier (and some say more outrageous) offerings found in the real estate listings, had a median price of $144,500, which indicates little change from last years 145,000.
Full reports for the Northwest can be found below, for an overview of the entire Northern part of BC from Opinion 250, here is the link to their story posted on line on Thursday.
Kitimat pulled up the rear of the three Northwest cities; where 36 properties worth $4.4 million sold through the MLS® in Kitimat and area in the first quarter of 2008, up from 26 properties worth $3.2 million in the first 3 months of 2007.
Median house prices in the northwest ranged from Kitimat’s $139,000, to Terrace’s $200,000, Prince Rupert despite some of the pricier (and some say more outrageous) offerings found in the real estate listings, had a median price of $144,500, which indicates little change from last years 145,000.
Full reports for the Northwest can be found below, for an overview of the entire Northern part of BC from Opinion 250, here is the link to their story posted on line on Thursday.
Prince Rupert:
47 properties worth $9.5 million changed hands through the MLS® in the Prince Rupert area this year, compared to 60 properties worth $12.5 in the first quarter of 2007. The median price of the 68 single family homes sold was $144,500 – almost the same as last year’s median of $145,000. On average, it took 68 days for a single family home to sell. At month end there were 167 properties of all types available for sale through MLS® in Prince Rupert, up from 126 at the end of March in 2007.
Terrace:
REALTORS® in Terrace have sold 65 properties worth $12.7 million so far this year, compared to 62 properties worth $7.6 million in the first quarter of 2007. Half of the 42 single family homes sold this year had a median price of $200,000 or less, and on average, these homes sold in 52 days. In addition, two apartment units, one townhouse, two homes on acreage, and 10 manufactured homes have changed hands so far this year. As of March 31st there were 188 properties available for sale in Terrace, up from 173 properties available at this time last year.
Kitimat:
36 properties worth $4.4 million sold through the MLS® in Kitimat and area in the first quarter of 2008, up from 26 properties worth $3.2 million in the first 3 months of 2007. Half of the 21 single family homes sold for a less than $139,000 and on average, these homes took 61 days to sell. In addition, 5 half duplexes, 5 townhouses and one house on acreage changed hands this year. At the end of March there were 79 properties of all types available for sale in Kitimat, up slightly from 74 properties at the same time last year.
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