Home sales recorded through the MLS® System of the Kootenay Real Estate Board in April 2015 came in on par with levels from April 2014.
Home sales numbered 205 units in April 2015, unchanged on a year-over-year basis. Sales of all property types numbered 246 units in April 2015, an increase of 1.7 per cent from April 2014.
“In contrast to very strong levels of activity in February and March, April sales were a little more subdued, running in line with last April and also the 10 year average for the month,” said David Blishen, President of the Kootenay Real Estate Board. “The number of months of supply has come down considerably in recent years; however, it’s still a far cry from what we’d consider tight market conditions. For that reason, prices are likely to continue to slide mostly sideways for a seventh consecutive year.”
On a year-to-date basis home sales totaled 639 units over the first four months of 2015. This is running 7.6 per cent ahead of the first four months of 2014 and marks the best start to any year since 2010.
The average price of homes sold in April 2015 was $283,652. This was up 5.6 per cent from April 2014. The less volatile year-to-date average price was $267,830, up one per cent from the first four months of 2014.
New residential listings numbered 570 units in April 2015, falling 19.4 per cent from April 2014. This is more a reflection of the surge in new listings at the same time last year.
Active residential listings on the Board’s MLS® System numbered 2,771 units at the end of April, down 6.9 per cent from the end of April 2014.
There were 13.5 months of inventory at the end of April, down from 14.5 months a year earlier and on par with 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 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.
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