April’s residential real estate market activity in the Kootenay region heated up to a simmer with new inventory coming onto the market, according to a report from the Association of Interior Realtors.
The Association’s report stated that the Kootenay and Boundary region saw a healthy increase of 11.3 percent in unit sales compared to the same month last year. April saw 246 sales recorded, up from March’s 214.
There were 574 new listings recorded in the Kootenay and Boundary region in April, marking a 31.8 percent increase compared to April 2023 and an increase from March’s 448 new listings.
The overall active listings in the Kootenay region saw a 23.1 percent increase compared to April 2023, with 1,427 listings overall.
“Sales activity in the Kootenay and Boundary region has pretty consistently trended close to the average. While inventory has accumulated, albeit at a somewhat muted pace, listings remain below pre-pandemic levels,” stated Association President Kaytee Sharun.
The benchmark price, which represents the value compared to the average or median price of a dwelling with typical attributes, saw percentage increases in the single-family and condominium categories compared to the same month last year, up 14.2 percent and 16.9 percent respectively.
The benchmark price for townhomes saw a moderate percentage decrease in year-over-year comparison of 2.3 percent, coming in at $470,500.
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