LNG Canada announcement sends Kitimat real estate skyward

The MLS website for Kitimat listings is a popular go to
internet spot these days as the market in the District gets heated
in the days following the LNG Canada announcement

A few weeks ago, getting a hold of realtor in the Kitimat area probably wouldn't have been too much of a problem with a lengthy list of home listings up for sale and prices rather reasonable for the communities of the Northwest.

Then came the Final Investment Decision from LNG Canada and the launch of what has been a frenzy of activity in the real estate market for the community of 8,000 or so, with the town's nine Realtors working late into the night to answer calls and match up sellers and buyers.

With this article, The Vanco ver Courier provides quite the visual image of a market on high boil, after three years of slumber, tracing much of the frantic pace that the real estate market has seen in just the last week.

Among the interesting findings from their study of the situation, the tripling of prices for some properties in the last seven days, and the dramatic pace of the selling to this point with one realtor reporting that two days ago they had 87 home listings to showcase, that number now down to ten by yesterday.

Bidding wars are also making for some of the landscape of the new era for realty in the Aluminum City as buyers arrive in  town to scoop up the available housing stock that is currently listed.

As well, the Courier story highlights the oncoming housing boom destined for Kitimat, noting a number of housing proposals that will soon be underway in the community in the near future.

The last seven days probably have delivered some of the heaviest in Internet traffic directed towards the Kitimat region in  along time, much of it no doubt by curious would be investors/speculators checking out the MLS listings available.

You can follow the pace of the growing interest in the market below:

Kitimat Realty
Calderwood Realty


Earlier this week we relayed the third quarter findings of the Northern BC Real Estate Board, which reflected the pre LNG announcement state of the Kitimat market, an easy prediction for the fourth quarter results will be that Kitimat will have seen a significant shift in its status when that report is delivered.

More notes on real estate across the Northwest can be found here.

Cross posted from the North Coast Review