Sunday, October 04, 2009

Still a hard sell for real estate for Prince Rupert

The latest numbers from the Northern BC Real Estate Board show that the amount of properties that have been sold in Prince Rupert this year are down from the number sold last year.

So far in 2009, there have been 82 properties worth 13.1 million dollars sold in Prince Rupert, down from 124, worth 24.9 million in 2008.

As of September 30th, 69 single family homes have been sold, half of which were sold for less than 178,000 dollars. And it's taking significantly longer to close a deal on homes for sale in Rupert, in 2008 it took 67 days for a property to sell, the number of days in 2009 has increased significantly with the average time frame coming in at around 138 days.

The volume of homes for sale has decreased in 2009 as well, as of September 30 there were 241 properties available on the MLS system, that is down from the 307 listed at this time in 2008.

The Opinion 250 website offered up this snapshot of the Northwest real estate market, which shows Terrace once again leading in volume and selling price for 2009.

A review of all the markets of Northern BC as of September 30th can be found in the article.

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