Home sales recorded through the MLS® System of the Kootenay Real Estate Board came in well above levels from a year earlier in September 2014.
Home sales numbered 276 units in September 2014, up 16 per cent compared to last September.
Sales of all property types numbered 316 units in September 2014, an increase of 19 per cent from September 2013.
“September marked the tenth straight double-digit year-over-year increase in home sales, so the market is still very active,” said Cathy Graham, President of the Kootenay Real Estate Board. “It was actually the strongest September sales figure since 2007.”
The average price of homes sold in September 2014 was $289,567. This was an increase of four per cent from September 2013. For the year-to-date the average price was $281,284, up nine tenths of one per cent from the same period last year.
New residential listings numbered 437 units in September, up 10 per cent from last September.
Active residential listings on the Board’s MLS® System numbered 3,017 units at the end of September, down two per cent from the end of September 2013. Overall supply has been slowly but steadily trending down since late 2011.
There were 10.9 months of inventory at the end of September, down from 12.9 months a year earlier but still slightly 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 $79.9 million in September 2014, rising 21 per cent from year-ago levels. The total value of all properties sold was $87.9 million, up 24 per cent from September 2013.