The city's real estate market got off to a significantly stronger start than last year, first quarter numbers from the B.C. Northern Real Estate Board (BCNREB) are showing.
Over the first three months of 2012, 172 single-family homes on the Multiple Listing Service changed hands for an average $241,704 each, adding up to a sales-volume of $41.6 million.
By the same point last year, 149 homes had sold for an average $242,936 for a sales-volume of $36.2 million.
The latest sales-volume figures are also a slight improvement over the first quarter of 2010, when 168 homes moved for an average $246,990, adding up to $41.5 million.
The numbers indicate it's not too soon to put up a for sale sign in BCNREB president Joni Brown's view.
"The buyers are already active and the sellers are kind of waiting until to get their yards perfect, so right now is a really good time for people to be getting their houses out there," Brown said.
She suspects the extended winter weather was behind the poor first quarter last year.
"I think the weather, even in the summer last year, had an affect on people and when it improved a little bit, we saw activity increase," Brown said.
But she added the market has returned to health.
"Prices are low, interest rates are low," Brown said. "It's an ideal time for people who weren't already in the market to be getting in and it's still an excellent time for investors to build up some inventory for better times."
Looking at properties of all types, 256 changed hands, 20 more than during the same period last year, adding up to $58.6 million, a $4 million increase.
In west Prince George, the median price of the 50 single family homes sold was $223,500, up from $211,700 last year.
East of Central Street, the 36 single family homes sold had a median value of $170,000, up from $157,000 last year.
In the Hart, 35 single family homes sold for a median price of $242,000, up from $234,400.
In southwestern Prince George, 48 homes sold for a median price of $286,000 down from $298,000.
At the end of March there were 602 properties of all types available on the MLS within the City limits, down from 645 by the same point last year.
