The number of homes sold through the MLS® System of the BC Northern Real Estate Board posted an 11^th consecutive year-over-year increase in April 2012.

According to the Board’s statistics home sales totaled 397 units in April. This was up 25 per cent from April 2011 and marked the strongest April sales figure since 2008.

A total of 1,239 homes have traded hands so far this year. That’s running 17 per cent ahead of levels reported in the first four months of 2011, and marks the best start to any year since 2008.

“Demand remained strong in April following the uptick in March, and currently stands at a four-year high,” said Joni Brown, President of the BC Northern Real Estate Board. “That said, regional housing market trends can and do differ from the overall trend due to local factors within the large area served by BC Northern Real Estate Board. With that in mind, buyers and sellers should consult their local REALTOR^® to understand how the housing market is shaping up where they live.”

The average price of homes sold in April 2012 was a record $242,136. It was an increase of 13 per cent from the same month a year earlier.

The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available over a vast geographic area (the Board serves an area covering over 600,000 square kilometers or 72 per cent of the province).

The dollar value of all home sales in April 2012 was $96.1 million, up 41 per cent on a year-over-year basis.

There were 798 new listings on the Board’s MLS® System in April 2012, up four per cent from April 2011.

The overall supply of home for sale on the market continues to trend lower. Active residential listings on the Board’s MLS® System numbered 2,523 units at the end of April, down six per cent from a year earlier.

There were 6.5 months of inventory at the end of April on a seasonally adjusted basis, unchanged from the end of March. Months of inventory levels have been generally trending downward since mid-2011 due largely to the acceleration in demand. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types numbered 456 units in April. This was an increase of 22 per cent from last April. The total value of all properties sold was $108.8 million, rising 39 per cent from April 2011 .

The BC Northern Real Estate Board is an association of about 385 REALTORS® that provides services to and sets standards for members. The BC Northern Real Estate Board covers the northern part of British Columbia, including Bulkley Nechako, Cariboo, Fraser Fort George, Peace River/Fort Nelson, and Skeena/Queen Charlottes.