Residential Real Estate Market in Kootenay Sees Growth in April

The residential real estate market in the Kootenay region of British Columbia experienced a surge in activity during the month of April, according to a recent report by the Association of Interior Realtors. The report highlights a significant increase in unit sales and new listings, indicating a growing demand for housing in the area.

Compared to the same month last year, the Kootenay and Boundary region saw a healthy 11.3 percent increase in unit sales, with a total of 246 sales recorded in April. This marks a significant improvement from the 214 sales recorded in March. Additionally, there was a 31.8 percent increase in new listings compared to April 2023, with 574 new properties coming onto the market.

The overall active listings in the Kootenay region also saw a notable increase of 23.1 percent compared to last year, with a total of 1,427 listings available. Despite this increase in inventory, the market remains below pre-pandemic levels, indicating a continued demand for housing in the region.

The report also highlights the growth in benchmark prices for different types of properties. Single-family homes and condominiums saw percentage increases of 14.2 percent and 16.9 percent, respectively, compared to the same month last year. However, townhomes experienced a moderate decrease of 2.3 percent in the benchmark price, with an average price of $470,500.

The Association of Interior Realtors emphasizes the consistent trend of sales activity in the Kootenay and Boundary region, which has been close to the average. While inventory has been accumulating, the pace remains somewhat muted, and listings continue to be below pre-pandemic levels.

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