Tuesday, July 08, 2008

Real Estate sales cool, while prices remain hot

While many in the city continue to shake their heads at the asking price of many Prince Rupert homes, it would seem that most of us are doing our voting with our wallets and purses when it comes to giving what is being asked.

The Northern BC Real Estate board has released figures for the first half of 2008, which show that the handing over of house keys is starting to decline again on the North Coast.

Last year Prince Rupert realtors had sold 131 properties worth roughly 23.7 million dollars to anxious buyers seeking their spot in the city of Rainbows. This year as of June 30, 87 properties have changes hands through the MLS option, bringing in 17.2 million dollars in sales.

Terrace realtors have sold 169 properties trough MLS this year so far for 31.6 million dollars, compared to 192 properties last year which fetched only 27.8 million dollars.

Kitimat saw an increase in the amount of sales over the first half of this year compared to the first half of last year, the Aluminum City realtors have sold 82 properties through MLS for 12 million dollars compared to last years figures which saw 80 properties sold for 9.6 million dollars.

The Opinion 250 website had thesome details of the report on the entire Northern region posted on line over the weekend.

The local scene was put into perspective with the following details and trends.

Prince Rupert:

87 properties worth $17.2 million changed hands through the MLS® in the Prince Rupert area this year, compared to 131 properties worth $23.7 million in the first half of 2007.

The median price of the 63 single family homes sold was $185,000 – up from last year’s median of $152,000.

On average it took 68 days for a single family home to sell – down from last year’s 104 days.

At the end of June there were 247 properties of all types available for sale through MLS® in Prince Rupert, up from 172 properties a year ago.

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