In the first quarter of 2018, more houses are listed for sale than the same time in 2017. (Pixabay)

Prince Rupert housing market drops in first quarter

As of March 31, 2018, both sales and listings had dropped in Rupert

The numbers are in from the first quarter of 2018, and the housing market in Prince Rupert continues to drop.

The BC Northern Real Estate Board compared how many properties were sold last month and how much they went for at the end of March in 2017.

Both the sales and listings for Prince Rupert have dropped, stated the real estate board’s press release. Forty-eight properties have sold so far in Prince Rupert in 2018 — 10 less than this time last year. Of those sales this year, eight were vacant parcels of land. At the end of March, 185 properties in Rupert were listed, compared to 170 listed on March 31, 2017.

READ MORE: Canadian home sales plunge 22.7% in March

“The decrease in sales activity is likely linked to Petronas’ cancellation of their LNG project. Prince Rupert’s economy has been benefiting from the substantial activity at the port,” the release stated.

Meanwhile, more homes in Terrace and Kitimat are being sold, while fewer are listed on the market.

Nationally, the number of houses sold last month also declined — by 22.7 per cent, according to the Canadian Real Estate Association. Meanwhile, the price of the homes that were sold is 10.4 per cent less on average across the country to the previous March.

At the beginning of 2018, the market value of homes in Prince Rupert had risen by 5.9 per cent from the year before.

READ MORE: Home value on the rise in Rupert



keili.bartlett@thenorthernview.com

Like us on Facebook and follow us on Twitter

Just Posted

Add fun to your kid’s reading list this summer

Prince Rupert Regional Library’s free programs are making summer reading fun for kids of all ages

Chris Green, mother of Prince Rupert’s scouts, passes away

Green spent more than 60 years volunteering and leading Prince Rupert’s Scouts Canada program

Gitga’at First Nation student receives national award

Spencer Greening’s thesis is based on Indigenous expressions of history

WEB POLL: Are you going to the Intertidal Music Festival this Saturday?

North Pacific Cannery hosts more than 20 performances July 21

Touchet wins Terrace golf tournament

Touchet partnered with Ann Holmes to win the 2018 Ladies Open golf tournament

Rushbrook Trail officially open

A ribbon cutting ceremony was held on July 14 to officially unveil the new trail to the public

Newspaper carriers wanted!

Contact The Northern View today to find out how you can become a part of our team

Hulk Hogan reinstated into wrestling Hall of Fame

Hogan had used racial slurs caught on video when talking about his daughter sleeping with a black man

‘Lava bomb’ through roof of tour boat injures 22 in Hawaii

“An explosion occurred near the shoreline hurling hot lava rocks towards the boat and injuring several passengers”

B.C. teen meets Nicolas Cage

Filming mob movie in downtown Vernon, B.C.

Critics claim Trump “defended a tyrant”

Trump questions US intel, not Putin, on Russia 2016 meddling

B.C. MLAs choose new children’s watchdog

Jennifer Charlesworth has worked in government, social services

B.C. reporter calls out immigration photo on social media as fake news

A Vancouver reporter is calling out a British politician for spreading fake news

Hundreds of Arctic glaciers shrinking, disappearing

Out of 1,773 glaciers, 1,353 shrank significantly between 2000 and 2016

Most Read