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teammorse.ca

February 2021 Issue
Mike Morse
February Newsletter

Hi Everyone

We hope that you’re staying safe and warm.  As you likely know, Prince Rupert has been experiencing a major outbreak of COVID-19. Here’s an article on the Acropolis Manor:

COVID-19 cases and deaths continue to rise at Acropolis Manor

Regarding real estate, our January stats aren’t as high as last year, but they’re still solid.  For more info, please see the “What’s Our Market Doing?” section below.

We were happy to hear that work has begun on the Seal Cove restoration project:

Work begins on Seal Cove restoration project

The pandemic has not slowed our Port down. Most of the news from the past month has been about the Port, and it’s very positive:

Port cargo volume growth continues despite pandemic obstacles

$25 million government investment in Prince Rupert port expansion project

Prince Rupert aiming for top port status

Banner year for Port of Prince Rupert

If you would like more information about market conditions or have any other real estate related questions, please contact us.

Mike & Nikki Morse, REALTORS®

Mike Cell: 250.600.6620
Nikki Cell: 250.600.4650

RE/MAX Coast Mountains

info@teammorse.ca

WHAT’S OUR MARKET DOING?

 

JANUARY 2021

Prince Rupert (& Area) Real Estate

Considering our low inventory, January was decent, with 15 sales. With low interest rates, lack of rental housing and decent jobs, there’s an abundance of buyers out there. We’re hoping for more listings as we head toward the spring market.

SALES (ALL TYPES) FROM JANUARY 2021
# of sales in January 2020 – 19
# of sales in January 2021 – 15

YEAR-TO-DATE SALES (all types)
As of January 31, 2020 – 19
As of January 31, 2021 – 15

TYPES OF PROPERTIES SOLD IN JANUARY 2021:
1 – land
3 – apartment units
11 – houses

NUMBER OF ACTIVE LISTINGS (all types):
As of January 31, 2020 – 98
As of January 31, 2021 – 68

AVERAGE SALE PRICE OF A HOUSE (YEAR-TO-DATE):
As of January 31, 2020 – $271,942
As of January 31, 2021 – $387,909

TOTAL SALES OF ALL TYPES (YEAR-TO-DATE):
As of January 31, 2020 – $7,165,950
As of January 31, 2021 – $4,863,500

The stats are based in whole or in part on information supplied by the BC Northern Real Estate Board for the period January 1, 2020 through January 31, 2021.

Getting Ready To Buy A Home? Here’s How To Research A Neighbourhood

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After months of searching you finally found your dream home, but it’s in a new neighbourhood that you may not be familiar with. Here are a few ways you can learn about the area so you’re fully informed before you take the plunge and buy. 

Go For A Long Walk, Or Two

This is the best way to get a feel for the neighborhood you may soon call home. Taking a couple of long walks in a neighborhood can accomplish a lot of important things all at once. It will also give you the opportunity to look out for all those little problems that are hard to notice when you visit a neighborhood briefly to check out a house. How noisy is it? Are there any busy main roads, or building sites nearby? Are there nearby amenities that are important to you? Local parks, quirky cafes or leisure facilities?

Test Out Your Commute

This is an important step to understand what your day-to-day will be like living in that neighborhood. Just routing your trip to work on Google Maps won’t be nearly as informative as getting out there and experiencing it yourself at the time of day you typically go to work, run your errands, etc.

If you take public transit, you can learn if everything usually runs on time, how crowded it gets, and the travel duration. If you can’t do this, try using the ‘time of day’ function on Google Maps to get an impression of what a rush hour commute looks like.

Online Research

Walk Score is a great resource. You can learn about walkability, public transit, nearby amenities, as well as crime and safety ratings. I have a Walk Score rating on all of the listings on my website, and there’s also an option to enter in any address in North America to find out more info. I hope this is useful to you!

This is not intended to solicit properties currently listed for sale or individuals currently under contract with a brokerage. All information was current on Feb 16, 2021.

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