What’s Going On In Prince Rupert Real Estate?

After the Petronas announcement on June 11,  we immediately had a surge of activity. Now the market is very steady.  Previous to this, our sales were down to half of what they were last year.  Despite the announcement stating they still have a couple of conditions, their commitment made the difference.

Here’s an article about the Petronas announcement: 


Here’s a more recent article:


The TranCanada pipeline news has also helped the boost the market activity: 



Our Port is doing well, also: 


So overall, things are looking positive, although we have not yet had the 100% commitment from a LNG proponent.   

Here are some stats for you from June.  Keep in mind that last year was an exceptionally busy year:

Sales Volume Area (year to date):
June 2014 – $40,305,353
June 2015 – $24,532,451 

Average Price Single Family Dwelling (year to date):
June 2014 – $206,496
June 2015 – $241,503

Average Number of days to sell (year to date):
June 2014 – 103.2
June 2015 – 111.5

Number of listings (year to date):
June 2014 – 167
June 2015 – 186

The stats for July and August will be significantly better, due to the recent surge of activity. It will be interesting to see, as subjects are removed, and deals close.