NORTHERN BC – The BC Northern Real Estate Board (BCNREB) reported 859 sales with a value of $217,647,633 through the Multiple Listing Service® (MLS®) in the first quarter of 2016. This compares with 856 sales worth $213,161,426 to the end of March, 2015. As of March 31st there were 3973 properties of all types available for purchase through the MLS® compared to 4023 at this time last year.
President William Lacy comments, “Although we are dealing with the hurdles that come from lagging oil prices in the furthest northern reaches of our Board, we are still seeing steady and strong demand for this time of year when we look at the Board as a whole. Once oil bounces back and a few of the large initiatives get up and running, the northern areas will be bustling with activity. The bright spots we are seeing are the southern areas of the Board, with activity up above last year’s levels. An early spring has kick-started the selling season and we hope the activity holds strong throughout the year.
As the lower mainland continues to heat up, there will be more of an impetus for people to move away from the higher-priced centers toward a more affordable area with an extremely high quality of life, which the Northern part of the Province has always provided.”
Regional Summary (2015 values appear in brackets):
- 100 Mile House and area: A total of 71 (50) properties of all types worth $14.6 million ($10.5 million) have been sold by REALTORS® in the area since the beginning of the year. In the first three months of 2016, 26 single family homes, 10 parcels of vacant land and 22 homes on acreage changed hands. At the end of the quarter there were 578 (640) properties available for purchase through the MLS®.
- Williams Lake: 75 (58) properties have sold so far this year through MLS® in the Williams Lake area. The value of these properties was $ 14.2 million ($13.2). In addition to the 26 single family homes sold, 17 homes on acreage, 10 manufactured homes in parks and 8 manufactured homes on land have changed hands in the first quarter. As of March 31st there were 319 (407) properties listed on the MLS® in the Williams Lake area.
- Quesnel: In the Quesnel area REALTORS® reported 50 (28) sales worth $8.7 million ($5.1 million) in the first three months of 2016. In addition to the 26 single family homes that sold, 9 parcels of vacant land and 8 homes on acreage have sold this year. There were 239 (242) properties of all types available for purchase through MLS® in the Quesnel area as of March 31st.
- Prince Rupert: 47 (37) properties worth $14.7 million ($8.1 million) have sold through the MLS® so far this year. Of those 47 properties sold, 37 were single family residential properties and 3 were parcels of vacant land. As of March 31st there were 157 (173) properties of all types available for purchase through the MLS® in the Prince Rupert area.
- Terrace: REALTORS® in the Terrace area sold 51 (52) properties in the first quarter of 2016. The value of these properties was $15 million ($12 million). 29 single family homes and 2 manufactured homes in parks have changed hands since January 1st. As of March 31st there were 208 (190) properties of all types available for sale in the Terrace area.
- Kitimat: In the first quarter of 2016, 20 (20) properties worth $5.5 million ($5.7 million) have been reported sold. Of those 20 properties, 13 were single family homes, 2 were half duplexes and 3 were townhouses. At the end of March there were 110 (93) properties of all types available for sale through MLS® in the Kitimat area.
- Bulkley – Nechako
- Smithers: REALTORS® in the Smithers area reported 44 (55) sales with a value of $9.4 million ($14.1 million) to March 31st, 2016. In addition to the 16 single family homes that sold, 4 parcels of vacant land, 8 homes on acreage and 2 manufactured homes on land changed hands this year. At the end of the first quarter there were 221 (245) properties of all types available for purchase through the MLS® in the Smithers area.
- Fort St. John: In the Fort St. John area, 74 (176) properties worth $30 million ($56.6 million) changed hands in the first quarter of 2016. In addition to the 23 single family homes sold, 8 parcels of vacant land, 11 half duplexes, 6 homes on acreage, 4 manufactured homes in parks and 10 manufactured homes on land have sold since January 1st. At the end of March there were 689 (484) properties of all types available for purchase through the MLS® in the Fort St. John region.
- Fraser Fort George
- City of Prince George: 281 (244) properties of all types, worth $76.3 million ($61.5 million), have changed hands in the first 3 months of 2016 in the City of Prince George. In the west part of the City the median price of the 53 single family homes that have sold on MLS® was $260,000 ($234,000). In the area east of the By-pass, the 34 single family homes that sold had a median value of $215,000 ($180,000). In the northern part of the City, commonly referred to as “the Hart”, 43 single family homes sold with a median price of $289,000 ($289,000). In the southwestern section of the City, 51 homes have sold since January with a median price of $312,000 ($355,000). At the end of March there were 600 (644) properties of all types available on the MLS® within the City limits.