Kootenay real estate sales were up in December by 11.9 per cent over the same time a year ago, with 122 units sold, according to the Association of Interior Realtors (the Association).
There were 161 new listings recorded in the Kootenay and Boundary region in December, marking a 28.8 per cent increase compared to December 2023 and a decrease from November’s 248 new listings.
The overall active listings in the Kootenay region saw a 22.4 per cent increase compared to December 2023 with 1,242 listings recorded.
“The Kootenay and Boundary region active listings remains chronically low despite managing to rebound to around 2019 levels,” said Association president Kaytee Sharun, adding that “the region has consistently faced challenges in building high inventory levels; however, last month's increase in listings suggests a promising shift in the right direction.”
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 17.6 per cent recorded in the condominium category, coming in at $339,300.
The benchmark price for townhomes saw an increase of 3.9 per cent in year-over-year comparison coming in at $501,600 and the benchmark price for single-family homes saw a 14.1 per cent increase, coming in at $606,100.
The Association's area covers the B.C. Interior, from Kamloops to the B.C. Alberta border.
Overall, a total of 716 residential unit sales were recorded across the Association region in December, coming in below November’s 994 units and up 30.7% compared to December 2023’s units sold.
New residential listings saw an increase of 7.9 per cent compared to December 2023 with 928 new listings recorded last month. The total number of active listings saw a 14.1 per cent increase of total inventory compared to December 2023 with 6,721 recorded across the Association region.
The highest percentage increase in active listings across the Association region was in the Kamloops and District region with a total increase of 23.4 per cent compared to December 2023.
“Overall, sales in December reflected the type of activity we usually see for the time of year, which is generally one of the slower months given the holidays typically putting a temporary pause on many home-buying ventures,” said Sharun, adding that “listings in the last quarter did see a decent spurt of activity which should make for a fairly decent hand off for the new year in providing potential buyers more options.”
