Residential Statistics | What’s The Local Sales Market Doing?
Data provided by The Association of Interior Realtors
In the Kootenay region, there were 302 units that sold in the month of May 2022, 7.1% lower than April 2022 and 6.3% lower than the 336 sales in March 2022.
Average prices saw double-digit percentage increases across all home categories compared to May 2021, with the greatest increase occurring within the condominium category with a 37.3% increase.
“It is important for buyers and sellers alike to understand that sales are not the same thing as value. The value of homes in the region remains steady and hasn’t gone down, despite sales, which is the number of homes sold, dipping slightly,”
– Association of Interior REALTORS® President Lyndi Cruickshank.
“Contrary to the trends among other regions in the province, the Kootenay market is sustaining well. We’re seemingly flattening the sales graph that reached record levels in 2021, but the market is yet to demonstrate a slowdown of any kind. We continue to sell above our monthly average of about 280-300 sales and have not observed a huge correction in average prices.”
There were 558 new listings recorded by the MLS® System in May 2022 and 1,067 active listings overall in the Kootenay and Boundary regions.
Contact your local REALTOR® to find out more about the real estate market and how they can help you achieve your real estate goals.
The Association of Interior REALTORS® is a member-based professional organization serving approximately 2,500 REALTORS® who live and work in communities across the interior of British Columbia including the Okanagan Valley, Kamloops and Kootenay regions, as well as the South Peace River region.
The Association of Interior REALTORS® was formed on January 1, 2021 through the amalgamation of the Okanagan Mainline Real Estate Board and the South Okanagan Real Estate Board. The Association has since also amalgamated with the Kamloops & District Real Estate Association and the Kootenay Association of REALTORS®.