While the eyes of the province turn to potential industrial activity in Prince Rupert, realty sales in the community are experiencing a sharp decline.
Figures from the B.C. Northern Real Estate Board show there were 109 properties worth $24.5 million sold through the first half of 2015 compared to 197 properties worth $40.3 million through to the end of June 2014 — a difference of 88 properties and $15.8 million.
The number of single family homes sold during the first half of the year fell from 141 last year to 80 this year, but the average selling price of the homes increased from $206,496 to $241,503. On average, the houses took 109 days to sell while there were 186 properties still listed on the Multiple Listing Service.
The number of homes sold in Terrace and Kitimat also dropped off this year compared to last. In Terrace there were 144 properties worth $35.7 million sold in 2015 compared to 201 properties worth $48.4 million in 2014, while Kitimat realty sales fell from 94 properties worth$26 million to just 40 properties worth $11 million.