Kootenay home sales drop in March, but prices rise

Residential real estate sales in the Kootenays in March were down 17% from the same month in 2021, according to the Association of Interior Realtors.

However, average prices saw double-digit percentage increases across all categories.

“Throughout the hot market last year, the Kootenays saw an influx of residents from outside the region,” says association president Kim Heizmann.

“Smaller communities are becoming an attractive destination with the advent of mining jobs here and home-based work for buyers.”

In the Kootenay, there were a total of 325 residential unit sales recorded last month.

Heizmann says sales while sales in March 2021 were higher, they sold more than 100 listings more than their average, making last month the second busiest March for local real estate agents.

The average sale price for a single-family home was $673,000 (up 27% from 2021); for a townhouse $411,000 (42% increase); and for a condo/apartment $268,000 (up 20%)

There were 495 new registrations recorded by the Kootenay MLS last month and 764 active registrations
overall in the Kootenay.

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