Prince Rupert realty sales remain below 2010 levels

While Terrace and Kitimat have seen an increase in the number of properties sold through the first three quarters of 2011 compared to the same time period in 2010, Prince Rupert numbers are still lagging behind those of last year.

While Terrace and Kitimat have seen an increase in the number of properties sold through the first three quarters of 2011 compared to the same time period in 2010, Prince Rupert numbers are still lagging behind those of last year.

At the end of September there were 83 properties worth $14.6 million sold in Prince Rupert compared to 96 properties worth $16.5 million though the first nine months of 2010. Half of the 72 single family homes sold for less than $169,000 and took an average of 142 days to sell. There were still 264 properties available on the Multiple Listing Service as of the end of September.

In contrast, the number of properties in Terrace jumped from 164 to 219 in 2011 and in Kitimat the number of properties climbed from 73 in 2010 to 133 in 2011. The total value of the sales went up from $30.3 million to $41.5 million in Terrace and from $10.9 million to $18.6 million in Kitimat.

The average selling price of a residential home in Prince Rupert also fell from $189,815 in 2010 to $185,149 in 2010. Terrace saw the average selling price climb by almost $16,000 and in Kitimat it was up just over $1,000.