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Although residential home average sale prices have dipped slightly across the Kootenay and Boundary region, sales across all real estate categories has increased 34.98 per cent, according to figures recently released by the Association of Interior Realtors.
A total of 436 residential unit sales (year-to-date) were recorded across the association Kootenay and Boundary region in February, coming in above January’s 323 units and up 33.33 per cent compared to units sold in February last year.
New residential listings saw an increase of 10.66 per cent compared to February 2024 with 882 new listings recorded last month.
“Real estate activity typically picks up after the holidays,” said the Association of Interior Realtors president Kaytee Sharun last month.
In the Kootenay and Boundary region, unit sales saw an increase of 36.78 per cent last month compared to sales activity in February 2024 with 238 sales recorded and above the previous month’s 174 units sold. There are 2,098 active listings in the region.
The days to sell, however, also increased, rising from 98 last year to 105 this year, a jump of 6.57 per cent.
“The Kootenay and Boundary region experienced stronger-than-usual post-holiday sales, signaling a positive start to the year," said Sharun last month. “With a healthy dose of new listings, it will be interesting to see if this momentum continues in the months ahead.”
The benchmark price, a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes,” saw percentage increases in the Kootenay region in all housing categories compared to the same month the previous year, with the highest percentage increase of 52.2 per cent recorded in the duplex category, coming in at $619,238.
The benchmark price for residential lots saw an increase of 26.43 per cent in year-over-year comparison coming in at $164,130 and the benchmark price for single-family homes saw a .75 per cent decrease, coming in at $568,811.
