BCNREB President Shawna Kinsley provided for the latest update on data on sales in an information release on Thursday, which featured a key observation on the state of the industry heading towards the final months of the year.
“The third quarter of 2020 saw the second-highest sales on record in the region since data was collected in 1980. Much of the increase was driven by pent-up demand from sales that did not occur during the spring due to containment measures and record-low mortgage rates.
Prince Rupert was very much in the mix when it came to the surge of property deals closing , with homes moving quite quickly once listed in many cases.
When it comes to a review of the numbers for the first nine months, the region has kept a strong pace of sales, while finding a reduction in the number of homes currently listed compared to a year ago.
Prince Rupert had 168 properties worth $54.4 million reported sold through MLS to the end of September, that compares to 147 properties worth $41.9 million at the third quarter mark of 2019.
The median price of half of the 118 single-family homes that have sold to September was $341,500.
On average, it took homes in Prince Rupert less than 79 days to sell.
As of September 30th there were 89 properties listed in the region on the MLS program
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In the Terrace area, 219 properties worth $76.1 million were sold in the first nine months of 2020, compared to 220 properties worth $73.4 million in the same period last year.
Half of the 114 single-family homes that sold, sold for less than $385,000. On average, it took these homes 61 days to sell.
In addition, 16 parcels of vacant land, 33 homes on acreage, 23 manufactured homes in pars and 9 manufactured homes on land changed hands in the first 9 months of the year.
At the end of September there were 247 properties of all types available for purchase through the MLS program in the Terrace area.
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Kitimat realty also has seen a jump in sales compared to the year before.
119 properties worth $37.5 million have sold through the MLS process in the Kitimat area in the first nine months of 2020, compared to 106 properties worth $50.6 million at this time last year.
Half of the 79 single-family homes sold so far this year sold for less than $327,500 and, on average, it took these homes 85 days to sell.
In addition to the single family homes, 12 half duplexes and 19 townhomes also sold through the year.
At the end of September there were 159 properties of all types available for purchase through the MLS® in the Kitimat area.
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Smithers realtors also saw some increased movement in the first nine months compared to a year ago.
188 sales with a value of $62 million in the first six months of 2020, compared to 175 sales worth $51.9 million at this time last year. Half of the 75 single-family homes sold so far this year sold for less than $365,000 and took, on average, 64 days to sell.
At the end of September there were 159 properties of all types available for purchase through the MLS® in the Kitimat area.
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Smithers realtors also saw some increased movement in the first nine months compared to a year ago.
188 sales with a value of $62 million in the first six months of 2020, compared to 175 sales worth $51.9 million at this time last year. Half of the 75 single-family homes sold so far this year sold for less than $365,000 and took, on average, 64 days to sell.
28 parcels of vacant land, 36 homes on acreage, 20 manufactured homes in parks and 14 manufactured homes on land also changed hands since January 1st.
As of September 30th, there were 99 properties of all types available through MLS system in the Smithers area.
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Over the course of a three year period of review, Prince Rupert has seen been among the strongest communities for the results compiled by the BCNREB
You can review the full overview for the five different regions for the BCNREB here.
More items of note on the Housing sector can be found here.
As of September 30th, there were 99 properties of all types available through MLS system in the Smithers area.
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Over the course of a three year period of review, Prince Rupert has seen been among the strongest communities for the results compiled by the BCNREB
More items of note on the Housing sector can be found here.
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