Houston real estate sales dipped in 2018

Houston real estate sales dipped in 2018

Houston real estate sales dipped in 2018

Property sales through the Multiple Listing Service dropped in Houston and area in 2018 compared to 2017, reports the B.C. Northern Real Estate Board.

Based on year end figures, 42 properties worth $7.8 million changed hands in 2018, compared to the 54 properties worth $10 million that sold in 2017.

The median value of the 32 single-family homes sold was $148,000. It means half of the homes were sold for less than $148,000 and half sold for more than $148,000.

As of Dec. 31, there were 32 properties of all types available in the Houston area.

When it comes to the average selling price of a single-family home, the dollar value declined in 2018 compared to 2017.

In 2018 the average selling price of the 32 homes was $174,067 while in 2017, the average selling price of the 29 homes that sold was $183,306. In 2016 the average selling price of the 23 homes sold that year was $156,095.

Smithers reported 270 sales worth $82.6 million in 2018, compared to 270 sales worth $71 million in 2017. The median value of the 116 single-family homes that sold in 2018 was $294,000.

Thirty-three 33 parcels of vacant land, 65 homes on acreage, 14 manufactured homes in parks and a further 13 on land also changed hands in 2018.

In Burns Lake 81 properties with a value of $12.5 million sold in 2018 compared with 105 worth $15.2 million in 2017.

Half of the 26 single-family homes there sold for less than $115,000.

And 20 parcels of vacant land, 23 homes on acreage and two manufactured homes on land also changed hands in 2018 in Burns Lake.

Across the north and dipping down to 100 Mile House, the BC Northern Real Estate Board reported 5,125 property sales worth $1.5 billion in 2018 through the Multiple Listing Service.

That’s up from 2017’s 4,981 sales worth $1.3 billion.

In the region overall, there was a 2.89 per cent increase in sales and a 10.32 per cent decrease in the number of active listings.

The Kitimat and Terrace areas were very active with a 147.96 per cent increase in sales in Kitimat and a 59 per cent increase in sales in Terrace, mostly on the strength of LNG Canada’s October 2018 announcement it was proceeding with its $40 billion liquefied natural gas plant in Kitimat.

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