The real estate market in Prince Rupert finished strong in 2014, resulting in more houses and properties being sold in 2014 than in the past three years.
In total, 289 properties worth $63.2 million changed hands compared to 261 properties worth $55 million in 2013 – an increase of 28 properties and $8.2 million.
In addition to 20 parcels of vacant land, five townhouses and 13 half-duplexes that were sold, a total of 212 single family residential homes were sold this year, up from 187 in 2013 and 124 in 2012. The average selling price for those home climbed more than $20,000 from last year, with an average selling price of $217,651 compared to $192,379 in 2013. When compared to the average 2012 selling price of $183,896, the sale price in 2014 is up more than $34,000.
While the prices in Prince Rupert continue to climb, the community remains one of the most affordable in the Northwest. Prince Rupert’s average selling price of $217,651 is the lowest in the region behind Kitimat at $318,046, Terrace’s $302,340 and Smithers’ $247,458. However, each of those communities saw fewer houses sold with 78 homes, 177 homes and 106 homes being sold in each community, respectively.
The number of properties still available for sale in Prince Rupert at the end of 2014 was 167, which is down from the end of 2013.