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Kootenay/Boundary real estate sales down 39% in January

The number of homes sold in the Kootenay/Boundary in January was down 39 per cent compared to the same period of 2022.

The Association of Interior Realtors says there were 111 sales recorded last month. That was, however, up from the 97 that changed hands in December.

There were 223 new listings in January, down 3.5 per cent compared to the same month of last year.

The overall active listings in the region increased 42.4 per cent compared to January 2022 with 914 listings overall.  

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“The rate at which we are adding new listings has followed an almost flat trajectory for over a year,” president Lyndi Cruickshank said in a news release.

“The Kootenay real estate market has remained resilient throughout the year and is closer to getting to balanced market conditions than some of the other regions across the province.” 

The benchmark price, which realtors say is a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes,” saw almost identical percentage increases across all home categories in the Kootenay/Boundary compared to January 2022.

They were up 7.3 per cent for single-family homes (to $497,400), up 7.5 per cent for townhomes (to $458,500), and up 7.0 per cent for condominiums (to $270,600), respectively.

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