Real estate sales balanced in first quarter of 2013

The Williams Lake area slight improvements in real estate sales, according to the latest Northern Real Estate Board report.

The Williams Lake area has seen some slight improvements in real estate sales, according to the latest quarterly report from the Northern Real Estate Board.

A total of 65 properties have been sold in the first quarter, compared to 63 in the first quarter of 2012. The value of these properties was $14.1 million.

Twenty-five single family homes, 18 homes on acreage, six manufactured homes in parks and four manufactured homes on land made up those sales.

As of March 31, 379 properties were listed compared to 414 in 2012.

Williams Lake realtor Glen Holling said considering that traditionally mid-November to mid-March are the real quiet months, the region is holding its own fairly well.

“We see on a weekly basis with the number of listings we’re taking in that we’re in a reasonably balanced market. We seem to be listing one, selling one and that is always a good sign because then it’s neither a buyer’s or a seller’s market.”

Comparatively, in the 100 Mile House area, a total of 49 properties of all types worth $9.8 million have been sold by realtors in the area since the beginning of the year.

In addition to the 15 single family homes that sold, 10 parcels of vacant land and 12 homes on acreage changed hands.

In Quesnel, realtors reported 46 sales worth $12.1 million in the first three months of 2013. In addition to the 15 single family homes that sold, nine parcels of vacant land and three homes on acreage have sold this year.

There were 243 properties of all types available for purchase throughout the Quesnel area as of March 31.

“The housing markets in the communities throughout the BC Northern Real Estate Board area continued to perform at a modest pace throughout the first quarter of 2013,” president Gisela Janzen said.

“Continuing low mortgage interest rates combined with lower prices have improved affordability in some areas. Potential buyers that have stayed on the sidelines will likely enter the market place in a typical spring and summer market throughout the North.”

Holling said all in all it’s a good feeling.

“Maybe things are not quite as fast as we’d like, but the improvements are there. When you throw the background into that where the U.S. economy is building more houses that just means our forest industries are going to see increased orders.”

Describing the real estate market in the region as “job-based,” Holling suggested that things are working for people if they are buying homes and acreage.

“Last week we had quite a large tour of new listings and I think that will carry on now for the next few months, probably through until the end of May,” Holling said. “It will put more inventory out there than there is demand, however, it usually takes a month or two to sell anyway.”

Likening the spring for a realtor to the season of hunting for hunters in the fall, Holling said spring is always the “listing” season for realty.

 

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