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 after the first three months of 2021, with the word surge an apt description for the pace of real estate transactions across Northern BC.
“A surge in home sales is already under way with sales in the first quarter of 2021 on a record pace. Total MLS® unit sales in the region covered by the BC Northern Real Estate Board were up 83 per cent in the first quarter year-over-year and were up 21 per cent from the fourth quarter of 2020 on a seasonally adjusted basis.
The average level of active listings finished the first quarter down 28 per cent year-over-year and fell 7 per cent on a seasonally adjusted basis. “with the supply of listings near record lows and sales at a record high, home prices continue to rise at an accelerated rate. The MLS® average price for the BC Northern Real Estate Board was up 22 per cent year-over-year in the first quarter to $361,102.”
Prince Rupert was very much in the mix when it came to that surge of property deals closing , with homes moving quite quickly once listed in many cases.
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When it comes to a review of the numbers for the first three months of the year. Prince Rupert stats show a sharp increase in sales with 69 in the first three months compared to 47 properties a year ago. That has delivered some $26.9 million in results, compared to $15.4 million a year ago for properties that have sold through the MLS® so far this year.
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Over the course of a three year period of review, Prince Rupert has seen the most significant in price spikes of the communities of the Northwest, with an average property listing of today 152,000 higher than it was in 2019.
You can review the full overview for the five different regions for the BCNEB here.
More items of note on the Housing sector can be found here.
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When it comes to a review of the numbers for the first three months of the year. Prince Rupert stats show a sharp increase in sales with 69 in the first three months compared to 47 properties a year ago. That has delivered some $26.9 million in results, compared to $15.4 million a year ago for properties that have sold through the MLS® so far this year.
Of those 69 properties sold, 43 were single-family residential properties and 8 were parcels of vacant land.
As of March 31st, there were 88 properties of all types available for purchase through the MLS® in the Prince Rupert area, one year ago that number was noted at 104.
The surge in Prince Rupert in the first three months puts it close to par with the Terrace market, which has long been the most active of the regional housing markets in recent years.
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Realtors in the Terrace area sold 69 properties in the first quarter of 2021 up from 58 of a year ago.
The value of these properties was $28.5 million compared. to $18.9 million a year ago.
33 single-family homes, 4 manufactured homes in parks, and 2 manufactured homes on land have changed hands since January 1st.
As of March 31st, there were 189 properties of all types available for sale in the Terrace area, that also shows a tightening market down from 222 one year ago.
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Kitimat - In the first quarter of 2021, saw 55 properties change hands up significantly from 18 properties one year ago. The value of the transactions of properties which have been reported sold was worth $19 million tripling the amount of $6.2 million a year ago. )
Of those 55 properties, 35 were single-family homes, 8 were half-duplexes and 3 were townhouses.
At the end of March there were 123 properties of all types available for sale through MLS® in the Kitimat area, that volume up slightly from one year ago when 113 properties were listed in March of 2020.
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Smithers is also seeing significant growth in the really sector, the Bulkley Valley community reported 70 sales compared to 43 a year ago, with a value of $22 million to March 31st 2021, up from the $12 million one year ago .
In addition to the 22 single-family homes that sold, 28 parcels of vacant land, 9 homes on acreage, and 3 manufactured homes in parks changed hands this year.
At the end of the first quarter there were 65 properties of all types available for purchase through the MLS® in the Smithers area, that compares to 122 that were offered for sale one year ago.
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Over the course of a three year period of review, Prince Rupert has seen the most significant in price spikes of the communities of the Northwest, with an average property listing of today 152,000 higher than it was in 2019.
More items of note on the Housing sector can be found here.
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