Home sales recorded through the MLS® System of the Kootenay Real Estate Board came in well above levels from a year earlier in June 2014.
Home sales numbered 268 units in June 2014, up 36 per cent compared to last June.
Sales of all property types numbered 304 units in June 2014, an increase of 32 per cent from June 2013.
“June home sales in the Kootenay region continued on the recovery path that began early last year, adding a seventh consecutive double-digit year-over-year increase to the string of recent gains,” said Cathy Graham, President of the Kootenay Real Estate Board. “Home sales also marked the best month of June in seven years, and activity over the first half of the year hit a six-year high.”
The average price of homes sold in June 2014 was $302,482. This was an increase of six per cent from June 2013.
New residential listings numbered 653 units in June, rising 17 per cent from last June.
Active residential listings on the Board’s MLS® System numbered 3,237 units at the end of June, edging down less than half of one per cent from the end of June 2013.
There were 12.1 months of inventory at the end of June, down from 16.5 months a year earlier and just above the long-run average for this time of the year. 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.
The dollar volume of all home sales totaled $81.1 million in June 2014, rising 44 per cent from year-ago levels to the best level of any month in nearly six years. The total value of all properties sold was $86 million, up 41 per cent from June 2013.
The Kootenay Real Estate Board is the regional regulatory body for REALTORS® in the East and West Kootenays in southeast BC. There are significant variations within each community in the Kootenays and it is important to call your REALTOR® to get data specific to the area you are interested in.