The local real estate market has seen slightly more action so far this year compared to this time in 2011.
There are more sales, the total value is higher, and there is less property sitting on the market compared to a year ago, according to data released Wednesday by the BC Northern Real Estate Board.
The board indicated there were 2,483 properties sold so far this year, through the Multiple Listing Service, up from 2,153 sales reported in the first half of 2011.
The total value of these properties was $566.3 million compared with $463 million in 2011.
At the end of June there were 4,835 properties of all types available for purchase through the MLS system, down from 5,335 at the same time last year.
"Prices have increased some, but not drastically, and show the steady and healthy trend of a stable market," said NREB president Joni Brown. "All indicators from the economists are that BC Northern will maintain a healthy level of growth. Interest rates are still on the historical low end while prices remain reasonable, making it a great time for investors to build their portfolios in the real estate sector, and for homeowners to upgrade or enter the market."
The 380-member board, with its MLS information, provided a snapshot for each of the northern region's town. Prince George's specific data is as follows:
- 659 properties worth $154.7 million have changed hands so far this year, compared with 592 properties worth $136.3 million in the first six months of last year.
- In the western part of the city, the median price of the 135 single-family homes that have sold through MLS was $225,000.
- In the area east of the Bypass, the 90 single-family homes that sold had a median price of $179,500.
- In the Hart area north of the city centre, 91 single-family homes sold with a median price of $248,500.
- The 128 single family homes that sold in the southwest section of the city had a median sale price of $310,000.
- At the end of June there were 793 properties of all types available for purchase through MLS.
