Real estate transactions on the rise in the Northwest

Hot on the heels of the latest property assessments from Assessments BC, comes the latest statistics from the Northern BC Real Estate Board. Some numbers that show that housing sales are on the increase in the Northwest, though Prince Rupert still trails both Terrace and Kitimat in overall sales.

The numbers from the Real Estate Board for Northwester BC look like this:

Prince Rupert had 160 properties worth $26.8 million change hands  in 2012, up from 116 valued at $19.3 million in 2011.  The selling price of half of the 127 single family homes sold in 2012 went for less that $175,000. While 10 parcels of vacant land and 5 half duplexes were sold in the last 12 months. At year end there were 213 properties of all types listed through the MLS services in Prince Rupert, down in number from this time last year.

Terrace once again is the region's hot spot for real estate, with 318 properties sold in 2012 worth some $65.9 million dollars a significant increase from 2011 when 267 properties were sold worth $50 million dollars. Of the 190 single family homes sold in Terrace last year, half sold for less than $210,000, Terrace saw 27 parcels of vacant land sold, as well as 30 homes on acreage, 25 manufactured homes and a further 11 properties sold in 2012. As of December 31st there we're 157 properties of all types available through MLS in Terrace, down from the 188 properties at year end December 2011.

In Kitimat all the proposed development in that community seems to have generated a bit of bump in the realty market there. In 2012, 239 properties worth 41.3 million changed hands compared to 214 worth 29.8 million in 2011. The median value of the 133 single family homes sold in Kitimat in 2012 was recorded at $163,000. In 2012, 51 half duplexes and 21 townhouses were sold. By years end, there were 72 properties of all types available on the Kitimat market, compared to 59 at years end in 2011.

Smithers reported 235 sales worth $59.1 million in 2012, compared to the 256 sales worth $52.8 million from 2011. The median value of the 122 single family homes sold in Smithers in 2012 was $255,000. 32 parcels of vacant land were sold in the last year, 53 homes on acreage and 8 manufactured homes also changed hands in 2012. At year end in Smithers there were 176 properties of all types available through the MLS system in Smithers, compared to 187 a year ago.

For a full review of the entire Highway 16 and 97 corridors of Northern BC, the Prince George website Opinion 250 provided a synopsis for all communities.