Photo: Canadian Press

Photo: Canadian Press

Record breaking sales for Kootenay real estate

For fourth straight month, Kootenay real estate sees robust sales in September

Home sales went through the roof in the Kootenays last month.

The Kootenay Association of REALTORS (KAR) reported Multiple Listing Service (MLS) in September 2020 rose 52.4 per cent from September 2019, recording a total of 442 residential unit sales in the West and East Kootenays last month.

“The impact we were expecting Covid-19 to bring is not reflecting on the real estate market for several reasons,” said KAR President Tyler Hancock. “The first is pent-up demand over the last five months, and the fact that people may not want to wait until winter arrives.”

In Trail, the active listings were down from 62 in 2019 to 46 in 2020, but the number of homes sold increased to 21 this year compared to 16 in Sept. 2019. The average home price also was up more than 30 per cent from last year at $266,466.

The actual dollar volume of homes sold in September totalled $5,340,788 an increase of 76 per cent from last year.

“Realtors in the region have adapted well to changing market scenarios and have been quite successful in minimizing the impact of the pandemic,” said Hancock. “We are sitting on the cusp of a major transition in our daily lives but real estate buyer behaviour in the Kootenays appears to be unaffected.”

Rossland’s numbers also hit its highest sales activity in a decade with 10 residential homes sold in September, up 30 per cent from the same month last year. The average home price, however, dropped less than 1 per cent to $406,940.

The average price for a Kootenay home stood at $395,768, an 11.3 per cent rise from $355,442 recorded in September last year. The total sales dollar volume in September was $174.9 million, a 69 per cent rise over 2019, which stood at $103.1 million.

While sales are brisk, Trail’s MLS inventory remains at a decade low with an average of 34 homes on the market each month in 2020, compared to 55 last year, and a high of 113 in 2015.

“Sales numbers may seem to be the go-to parameter for analysts to determine market health but as a realtor, there is more to it than that,” said Hancock. “Although the numbers may seem extraordinary right now, we must not forget that these are extraordinary times as well.”

The low inventory levels may determine market behaviour in the days to come.

“I remember mentioning this last month that average prices will reach the $400-k mark by September and today we’re at $395-k. Against the ongoing trend, if we can get more homes on the market, average prices in the region will stabilize,” added Hancock.

City of TrailReal estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Photo: Brenda Haley
What you see …

If you have a recent photo to share email it large or actual-size to editor@trailtimes.ca

One complaint the Trail RCMP had to deal with involved laundry. Photo: Annie Spratt on Unsplash
Off the cuff calls to the Trail RCMP

Greater Trail police responded to several vehicle collisions as well as a few more usual cases

Two big 4-enders lifted the Darrin Albo rink to a 9-6 victory over Team Les Lepine in Kootenay Savings Super League action on Thursday. Photo: Jim Bailey.
Kootenay Savings Super League: Albo storms back for big win over Lepine

Kootenay Savings Super League curling goes every Thursday at the Trail Curling Club

poppy
Trail Legion launches poppy campaign

Trail residents can pay their respects during the two weeks up to Remembrance Day by wearing a poppy

Wreaths will already be laid around the cenotaph before people arrive at the ceremony. Photo: Chelsea Novak
Scaled-down Remembrance Day event to take place in Rossland

The public is encouraged not to attend ceremony this year due to the COVID-19 crisis

A woman wears a face mask and plastic gloves while browsing books as a sticker on the floor indicates a one-way direction of travel between shelves of books at the Vancouver Public Library’s central branch, after it and four other branches reopened with limited services, in Vancouver, on Tuesday, July 14, 2020. (THE CANADIAN PRESS/Darryl Dyck)
B.C. reports 234 new COVID cases, 1 death of senior who had attended small birthday party

Roughly 5,700 people are isolating due to being exposed to a confirmed case

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

A nurse performs a test on a patient at a drive-in COVID-19 clinic in Montreal, on Wednesday, October 21, 2020. THE CANADIAN PRESS/Paul Chiasson
Interior Health reports seven more COVID-19 cases

Eighty-nine cases remain active, none of whom are currently hospitalized

Burnaby RCMP responded to a dine-and-dash suspect who fell through a ceiling in March 2020. (RCMP handout)
VIDEO: Suspected dine-and-dasher falls through ceiling of Burnaby restaurant

A woman believed to be dashing on her restaurant bill fell through the kitchen ceiling

A can of Canada Dry Ginger Ale is shown in Toronto on Thursday Oct. 29, 2020. The maker of Canada Dry Ginger Ale has agreed to pay over $200,000 to settle a class-action lawsuit launched by a B.C. man who alleged he was misled by marketing suggesting the soda had medicinal benefits. THE CANADIAN PRESS/Joseph O’Connal
B.C. man’s lawsuit over marketing of Canada Dry ginger ale settled for $200K

Soda’s maker, Canada Dry Mott’s Inc., denied the allegations and any liability

Vancouver Island-based Wilson’s Transportation has expanded to fill some of the routes left unserviced by Greyhound as of Nov. 1, 2018. (Black Press files)
B.C. bus companies say they need help to survive COVID-19

Like airlines, motor coaches have lost most of their revenue

A deer was spotted in October 2020 in Prince Rupert, B.C., with a bright pink yoga ball stuck in its antlers. (Kayla Vickers/Chronicles Of Hammy The Deer Official Page)
Hammy 2.0? Prince Rupert deer spotted with bright pink yoga ball stuck in antlers

The BC Conservation Officer Service is aware of the deer roaming around the city

RCMP. (Phil McLachlan - Black Press Media)
Kelowna Mountie hit with 2nd lawsuit in 2 months for alleged assault

Const. Julius Prommer is accused of breaking a woman’s knee during while responding to a noise complaint

Most Read