The BC Northern Real Estate Board reports 3833 properties worth $979.3 million sold through the Multiple Listing Service® (MLS®) in the first nine months of 2015. At this time last year, 4195 properties worth $1.07 billion had changed hands. As of September 30th there were 4575 properties of all types available for sale through the MLS®, down slightly from 4658 properties at the end of September last year.
BCNREB Vice-President William Lacy comments: “Given the slump in energy prices and overall economic lull, it is reassuring to see the overall numbers for the BCNREB are holding strong. Certain areas have been hit harder, but other areas are showing increases in prices and overall activity to create for a balanced result through the third quarter of the year.
With predicted increases in global activity, and growth predicted for BC in the coming quarters, we are looking for a solid close to the year and for increases to resume throughout next year.
Also, with potential boosts to the northern markets via large energy projects, this may be an opportunity to take advantage before the next upswing in the market.”
Locally Vanderhoof REALTORS® assisted in the sale of 88 properties worth $16.2 million in the first nine months of the year compared with 102 properties worth $18.4 million in the same time last year. Half of the 33 single family homes sold so far this year, sold for less than $205,000 and these homes took, on average, 118 days to sell. Also changing hands were 11 parcels of vacant land and 22 homes on acreage. At the end of September there were 157 properties of all types available through MLS® in the Vanderhoof area.
In the Fort St. James area 40 properties worth $8.5 million were reported sold to the end of September, compared to 36 properties worth $6.7 million in the same period last year. As of September 30th there were 86 properties of all types available for purchase through MLS® in the Fort St. James area.
In the Bulkley Nechako region in Houston to the end of September, 48 properties worth $7.7 million sold in the Houston area, compared with 47 properties worth $7.2 million in the same period last year. At the end of September there were 49 properties of all types available for purchase through MLS® in the Houston area.
In Smithers as of September 30th, 191 properties worth $49.5 million changed hands in the Smithers area, compared with 211 properties worth $47.5 million in the first nine months of 2014. Half of the 88 single family homes sold so far this year, sold for less than $258,000 and these homes took, on average, 90 days to sell. Also changing hands this year were 13 parcels of vacant land, 47 homes on acreage, 14 manufactured homes in parks and 13 manufactured homes on land. As of September 30th, there were 260 properties of all types available through the MLS® in the Smithers area.
Burns Lake so far this year 81 properties worth $9.6 million have been reported sold through MLS® compared to 57 properties worth $6.6 million in the first nine months of 2014. At the end of September there were 151 properties of all types available for sale through the MLS® in the Burns Lake area.
In the Northwest region Prince Rupert 168 properties worth $39.7 million changed hands so far this year in the Prince Rupert area, compared with 263 properties worth $55.4 million to the end of September 2014. Of the 126 single family homes that have changed hands this year, half sold for less than $241,000 and on average, took 94 days to sell. As of September 30th there were 179 properties of all types available through the MLS® in the Prince Rupert area.
Terrace: In the first nine months of the year, 225 properties worth $57.6 million were reported sold in the Terrace area, compared to 288 properties worth $72.5 million during the same period last year. Half of the 131 single family homes that have sold so far this year, sold for less than $308,750 and these homes took, on average, 66 days to sell. Also changing hands were 16 parcels of vacant land, 1 multi-family dwelling, 15 homes on acreage, 28 manufactured homes in parks and 13 manufactured homes on land. At the end of September there were 182 properties of all types available through the MLS® in the Terrace area.
The REALTOR® members of the BC Northern Real Estate Board serve the real estate needs of the communities from Fort Nelson in the north to 100 Mile House in the south and from the Alberta border to Haida Gwaii.