Sun
Northern B.C. real estate sales last year fell 5.9 per cent below the record set in 2006 but the total value of all sales still hit a record $1.2 billion, the B.C. Northern Real Estate Board reported Friday.
The board said 6,639 Multiple Listing Service sales occurred last year, down from 7,055 in 2006 but still higher than the previous record of 6,344 sales in 2005.
The total value of 2007 sales was 13.6-per-cent higher than 2006 and 47-per-cent higher than 2005.
“Despite some regional differences, northern sellers enjoyed a strong market and buyers are still getting good value,” said board president Glen Holling. “Real estate overall fared very well from generally higher selling prices.”
He said values will likely increase slightly in some areas this year but an increase in the supply of available properties should ensure stable conditions.
A board survey found the average selling price of residential properties last year rose in 13 of 15 markets.
Some of the biggest price increases last year occurred in Terrace (up 26.6 per cent to $182,600), Houston (up 23.9 per cent to $133,500) and Prince George (up 21.6 per cent to $240,200).
© The Vancouver Sun 2008
