Real Estate Trends in the Kootenays

Creston, BC real estate trends:

  • Year-to-date, Creston home sales, both residential and rural, are on par with 2014.

June trends in home sales in the Kootenays:

  • June 2015 shows slightly more home sales than June 2014.
  • Year-to-date home sales indicate a slight increase over the first half of 2014—and the best start to a year since 2008.
  • June 2015 sales stood above every other June for the last eight years, indicating a very active market.
  • Active residential listings and inventory were down slightly from the same month last year.
  • The dollar volume of all home sales was almost par with the same month's sales last year, as was the total value of all properties sold.

Key points from the June 2015 Quarterly Report: Kootenay Real Estate Board

  • Kootenay Board Area sales rose 12 percent to a seasonally adjusted 691 units in the first quarter of 2015.
  • Total active listings in the Kootenay region continue to trend modestly lower while demand rises. Given the still relatively elevated level of listings, this has pushed the Kootenay area more or less into a balanced market.
  • The MLS® average price for the board area remains relatively stable, albeit with some upward pressure. Average prices were up 1 percent in the first quarter of 2015.
  • We are forecasting that the MLS® average price in the Kootenay Board area will be flat in 2015 at $278,000 before rising 1.1 percent to $281,000 in 2016.
  • MLS® unit sales are forecast to rise 4.5 percent to 2,650 units in 2015 before moderating 3.8 percent to 2,550 in 2016.

 

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