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Prince Rupert Real Estate

The value of residential real estate sales in B.C. reached a record $37.8 billion in 2006, up seven per cent from 2005, fueled by higher house prices at a time when the number of sales dropped.

In 2006, B.C. realtors sold just under 97,000 homes through the Canadian Real Estate Association's marketing network, the Multiple Listing Service, a nine-per-cent drop from 2005's record of 106,000. But an 18-per-cent increase in the average price of a home in the province -- from $332,137 to $390,760 -- pushed the value of the sales to the record.

The British Columbia Real Estate Association, which represents the province's 12 regional real estate boards, expects the number of sales to continue to slow, dropping to 93,600, or by three per cent, in 2007. Prices, however, are expected to keep heading upward, albeit at a slower pace.

The greatest increase in activity was in Northern B.C., which includes Prince George and Prince Rupert. There sales were up nine per cent, to 5,609 from 5,130, with the value of sales up 31 per cent. - Vancouver Sun

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