Ten more property units were sold through Q1 2016 than through the same time in 2015.

Rupert property sales up over early 2015

Ten more properties were sold through the first quarter (Q1) of 2016 than through the same period of 2015 in Prince Rupert.

The real estate boom in Prince Rupert is alive and well.

Ten more properties were sold through the first quarter (Q1) of 2016 than through the same period of 2015 in Prince Rupert, valuing $6.6 million more than last year.

A total of 47 properties were sold from January through March, compared to 37 through the same period in 2015, worth a total of $14.7 million, up from $8.1 million last year.

The average residential detached house sold was worth $293,181 and of 47 properties sold, 37 were single family residential properties and three were parcels of vacant land.

As of March 31, there were 208 properties of all types available for purchase through the Multiple Listing Service (MLS) in the Prince Rupert area.

This compares to 51 properties sold in Terrace in the same timeframe worth $15 million and 20 properties sold in Kitimat worth $5.5. million.

Overall through the BC Northern Real Estate Board (BCNREB), 859 sales were made (compared to 856 last year), with a value of $217,647,633. That figure is up from the 2015 total of $213,161,426.

“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,” said BCNREB president William Lacy.

“As the Lower Mainland continues to heat up, there will be more of an impetus for people to move away from the higher-priced centres toward a more affordable area with an extremely high quality of life, which the northern part of the province has always provided.”

In Terrace, the average residential detached house selling price was $301,589.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Canada Day investigation by RCMP

Female was transported to hospital with head injuries in Prince Rupert

Local restaurant, Fukasaku, awarded $10,000 grant

More than 1100 Canadian business applied for the relief grant

QUIZ: Put your knowledge of Canada to the test

How much do you know about our country?

AGM takes centre stage

Lester Centre presented annual reports on June 24

Evictions to resume

Landlords with existing orders can file for enforcement on July 2nd

All community COVID-19 outbreaks declared over in B.C.

Abbotsford manufacturer cleared by Dr. Bonnie Henry

Terrace RCMP searching for missing man

Tyler Montague last made contact with family June 24

Black worker files discrimination complaint against Facebook

Oscar Veneszee, Jr. has worked as an operations program manager at Facebook since 2017

Nestle Canada selling bottled water business to local family-owned company

The Pure Life bottled water business is being sold to Ice River Springs

Major B.C. salmon farm tests new containment system to curb sea lice infestations

System “essentially eliminates” contact between wild and farmed fish stocks, says Cermaq

US unemployment falls to 11%, but new shutdowns are underway

President Donald Trump said the jobs report shows the economy is “roaring back”

Ottawa jail inmates argue anti-COVID measures a breach of charter rights

The prisoners allege guards did not wear masks until April 25

Epstein pal arrested, accused of luring girls for sex abuse

Ghislaine Maxwell was in an intimate relationship with Epstein for years

B.C. repairs COVID-19 emergency order for local government

Ombudsperson shut out as his recommendations implemented

Most Read