Housing sales are down dramatically in the Northwest, as the BC Northern Real Estate Board released its latest figures today showing declines in a number of categories.
As can be seen by the high volume of for sale signs around Prince Rupert neighborhoods, the number of houses for sale is up, while the closing of the deals is decidedly down since January of this year. And if you have your house on the market at the moment you will be looking at a competitive market for the buyer and a wait of at least two months on average before your house sells.
At the end of September there were 307 MLS properties listed in Prince Rupert, up from 163 properties at the same time last year. So far this year, 124 properties have sold for a total of 24.8 million dollars, down from sales that reached 201 this time last year, where house sales brought in 35.9 million dollars.
91 single family homes have sold thus far in 2008 with 50 per cent of them selling for less than 172,000 dollars. The average home took 67 days to reach the closing stage, longer than both Terrace and Kitimat.
The Opinion 250 website broke down the information for all regions of Northern BC, we have the information for Prince Rupert, Terrace and Kitimat posted below…
Northwest Region
In Prince Rupert 124 properties of all kinds, worth $24.8 M have sold through the MLS® since January 1st.
As can be seen by the high volume of for sale signs around Prince Rupert neighborhoods, the number of houses for sale is up, while the closing of the deals is decidedly down since January of this year. And if you have your house on the market at the moment you will be looking at a competitive market for the buyer and a wait of at least two months on average before your house sells.
At the end of September there were 307 MLS properties listed in Prince Rupert, up from 163 properties at the same time last year. So far this year, 124 properties have sold for a total of 24.8 million dollars, down from sales that reached 201 this time last year, where house sales brought in 35.9 million dollars.
91 single family homes have sold thus far in 2008 with 50 per cent of them selling for less than 172,000 dollars. The average home took 67 days to reach the closing stage, longer than both Terrace and Kitimat.
The Opinion 250 website broke down the information for all regions of Northern BC, we have the information for Prince Rupert, Terrace and Kitimat posted below…
Northwest Region
In Prince Rupert 124 properties of all kinds, worth $24.8 M have sold through the MLS® since January 1st.
This is down from last year’s 201 properties worth $35.9 M. 91 single family homes have sold this year, half of which sold for less than $172,500, and which took, on average, 67 days to sell.
In addition, 9 parcels of land, 3 apartments, two half duplexes and 2 townhouses have sold this year. As of September 30th there were 307 properties of all types available for sale through the MLS® in the Prince Rupert area up from 163 properties last year.
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249 properties worth $46.2M changed hands in the Terrace area in the first nine months of this year.
This is down from last year’s 336 sales worth $52.6M. Half of the 139 single family homes on lots less than an acre in size sold for less than $195,000 and took, on average, 51 days to sell. In addition, 25 parcels of vacant land, 7 apartments, 6 half duplexes, 21 homes on acreage and 17 manufactured homes and 20 on land have sold so far this year.
At the end of September there were 292 properties of all types available for sale through the MLS® in the Terrace area up from 219 properties last year.
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REALTORS® in the Kitimat area have sold 114 properties worth $16.7M so far this year.
In the same period last year 151 properties worth $19.4M changed hands. Half of the 69 single family homes sold so far this year sold for less than $172,000 and took, on average, 52 days to sell.
In addition, 19 half duplexes, 12 townhouses, 4 homes on acreage and 4 manufactured homes have sold since January 1st.
There were 134 properties of all types available for sale in the Kitimat area through MLS®, as of September 30th, up from 58 properties last year.
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