These challenging times of COVID-19 made for much focus for Shawna Kinsley, the new President of the BC Northern Real Estate Board.
“The COVID-19 pandemic continues to cause significant challenges to everyone in our society. Our members are committed to doing their part to ensure communities stay safe. Real estate is an essential service. REALTORS® are following all orders and guidance from the Public Health Authority."
The new Board President also called attention t some of the measures that the organization has put in place for its members towards Open Houses and other personal engagement with sellers and buyers.
"The Real Estate Board has recommended that no Open Houses be held during this time. REALTORS® are also modifying their practices around face-to-face meetings and showings. Sellers may now remain on the MLS® system without the need for showings and all consumers can expect more phone or virtual meetings as well as limits on showings and new showing guidelines. We ask consumers to be patient with real estate practice changes at this time. REALTORS® remain committed to serving their clients and safeguarding their communities.”
 |
| Charts from BCNRB |
When it comes to review of the numbers for the first three months of 2020, Prince Rupert had seen an uptick in the volume of sales closed compared to one year ago and a near doubling in the returns to house sellers in the period.
Prince Rupert had 47 properties worth $15.4 million sold through the MLS system this year, compared to 34 sold at this time last year for a value of $8.8 million. Of those 47 properties sold, 29 were single-family residential properties and 6 were parcels of vacant land.
As of March 31st, there were 104 properties of all types available for purchase through the MLS system in the Prince Rupert area compared to 169 listings last year.
🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠
In the Terrace area which continues to set the pace in the Northwest, 58 properties in the first quarter of 2020 compared to 53 one year ago. The value of these properties was $18.9 million up from $16.9 million in 2019. 29 single-family homes, 5 manufactured homes in parks, and 2 manufactured homes on land have changed hands since January 1st.
As of March 31st, there were 222 properties of all types available for sale in the Terrace area, an increase from last year when 192 properties were listed.
🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠
There was not much change for the Kitimat realty sector from the year to year numbers, 18 properties worth $6.2 million have been reported sold to date in 2020, compared to 19 properties at 6.7 million one year ago. Of those 18 properties, 11 were single-family homes, 3 were half-duplexes and 2 were townhouses.
At the end of March there were 113 properties of all types available for sale through the MLS system in the Kitimat area, at this time last year there were 124 listings.
🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠
Smithers realtors started 2020 much the way they did 2019, with the 43 sales with a value of $12 million to March 31st, 2020 marking much the same territory of a year ago when they had 44 listings bringing in 12.6 million . In addition to the 23 single-family homes that sold, 4 parcels of vacant land, 6 homes on acreage, and 5 manufactured homes in parks changed hands this year.
At the end of the first quarter there were 122 properties of all types available for purchase through the MLS system in the Smithers area, that compares to 122 listed one year ago.
🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠🏠
Over the course of a three year period of review, Prince Rupert after declines in 2019, found that it was almost back to the same place it was at this time in 2018 when it comes to the average selling price of a residential detached home.
The full test of the impact of COVID-19 on the realty sector and the Northern economy will come in the first week of July, that is when the BCNRB releases its second quarter results a review that most likely will tell a very changed story from the data review of last week.
You can review the full overview for the five different regions for the BCNRB here.
More items of note on the Housing sector can be found here.
No comments:
Post a Comment