Trail leads the way for affordable homes

City boasts lowest average housing prices in the West Kootenay.

Trail remains the least-expensive area in the entire Kootenay region to buy a home, according to Kootenay Real Estate Board figures recently released for 2011.

With the average single family home selling for $165,636 in 2011 in Trail — a drop of $21,708 from 2010 — the Silver City was only rivaled by Greenwood ($150,000), in the lowest average price category.

Nelson remained the highest priced community in the West Kootenay at $334,079, down from $355,331 in 2010, while homes were selling for $279,510 on average in Castlegar in 2010, nearly $11,000 more than in 2010.

Rossland’s average house prices also were on the rise in 2011, jumping from $254,473 on average in 2010 to $272,413 in 2011.

House prices in Warfield and Fruitvale also rose in 2011, with average hikes of $29,000 and $57,000, respectively — largely due to their small sales volumes.

It was a tough year for real estate sales in 2011, said Jim Barber, president of the Kootenay Real Estate Board (KREB), but the market and interest rates are expected to stabilize for 2012, and that prediction holds true for the Kootenays.

Barber said statistics indicate that while activity and prices were down from 2010 the market has calmed and is still tilted slightly towards buyers.

Expectations are that prices and activity may rise somewhat in 2012 across the Kootenays.

It’s a buyer’s market right now in Trail, said Century 21 Kootenay Homes Inc. owner Richard Daoust, but he was cautiously optimistic 2012 would be better market for both buyers and sellers given the economic opportunities in the Trail area.

He said the pinch of 2011 — the lowest sales average in five years — in Trail should relinquish somewhat as the city’s strong economy surges forward.

“We’re a nice little pocket that will hugely benefit with what is going on with Teck, and the Waneta (Dam) expansion … and the e-Waste program at Teck,” he said. “There are just lots of jobs right now and where else do you see that in other areas at this time in the economy?”

Across the Kootenay region the inventory has remained high at 3,075 residential units, while sales have plummeted to 1,078, the lowest total in 20 years. In Trail, 303 units were listed in 2011 while 107 were sold, the second lowest total sold in 20 years.

The real estate market in Trail has slowed, Daoust admitted, and it was a surprising move considering expectations were for it to be a bit more active in 2011 than it was, just because of what was going on in local markets with job activity increasing at Teck and with the Waneta expansion underway.

A glut of house inventory on the market also contributed to the market slowing down and prices lowering.

“It seemed to take until this year before we really saw the people saying, ‘We understand where the market is, and if we want to sell or need to sell this is where we need to go down to if we want to sell,’” he said.

Higher end homes in Trail — worth over $300,000 — did not move until the last few weeks of 2011, said Daoust.

Just Posted

Keith Smyth, Kootenay Savings director at-large joins children from the Kids’ Care Centre at St. Michael’s Catholic School. Photo: Submitted
Kootenay Savings continues credit union’s tradition of giving

Funding totalling $48,250, is going to a wide array of Kootenay initiatives

From left: Karl Luedtke (West Arm Outdoors Club), Dale Williams (BCWF), Molly Teather (FLNORD), Gord Grunerud (West Arm Outdoors Club), Eugene Volokhov (Grand Prize Winner), Casey McKinnon and Lex Jones (Jones Boys Boats). Photo: Tammy White, Whitelight Photography
Balfour man lands big prize from angler incentive program

Eugene Volokhov of Balfour is now the proud owner of a sleek 18-foot Kingfisher boat

FILE – Perry Bellegarde, National Chief of the Assembly of First Nations, takes part in an event on Parliament Hill in Ottawa on Tuesday, July 7, 2020. THE CANADIAN PRESS/Sean Kilpatrick
Indigenous Peoples Day must be a ‘call to action’, says Assembly of First Nations chief

Discovery of children at Kamloops residential school site must lead to change, Perry Bellegarde says

“I want to see the difference in the world, embrace it, celebrate it … ” Photo: David Cantelli/Unsplash
A new way to say ‘Hello’

“Inclusion, you see, is NOT about making us all the same.”

Waneta Manor is located on Laburnum Drive in Trail. Photo: Sheri Regnier
Senior dies as Trail tenants continue wait for broken elevator to be fixed

The elevator in Waneta Manor has been out of commission since February

Marco Mendicino, Minister of Immigration, Refugees and Citizenship during a press conference in Ottawa on Thursday, May 13, 2021. THE CANADIAN PRESS/Sean Kilpatrick
Canada to welcome 45,000 refugees this year, says immigration minister

Canada plans to increase persons admitted from 23,500 to 45,000 and expedite permanent residency applications

In the first election with public money replacing corporate or union donations, B.C. Liberal leader Andrew Wilkinson, B.C. Greens leader Sonia Furstenau and B.C. NDP leader John Horgan take part in election debate at the University of B.C., Oct. 13, 2020. (THE CANADIAN PRESS)
B.C. MLAs ponder 2022 ‘sunset’ of subsidy for political parties

NDP, B.C. Fed call for increase, B.C. Liberals have no comment

Investigators use a bucket to help recover human remains at a home burned in the Camp fire, Thursday, Nov. 15, 2018, in Magalia, Calif. Many of the missing in the deadly Northern California wildfire are elderly residents in Magalia, a forested town of about 11,000 north of the destroyed town of Paradise. (AP Photo/John Locher)
‘Forever War’ with fire has California battling forests instead

Five of the state’s largest-ever blazes seared California last year, as authorities tackle prevention

Tokyo 2020 President Seiko Hashimoto and IOC President Thomas Bach, on a screen, speak during a five=party online meeting at Harumi Island Triton Square Tower Y in Tokyo Monday, June 21, 2021. The Tokyo Olympics will allow some local fans to attend when the games open in just over a month, Tokyo organizing committee officials and the IOC said on Monday. (Rodrigo Reyes Marin/Pool Photo via AP)
Tokyo Olympics to allow Japanese fans only, with strict limits

Organizers set a limit of 50% capacity — up to a maximum of 10,000 fans

The border crossing into the United States is seen during the COVID-19 pandemic in Lacolle, Que. on February 12, 2021. THE CANADIAN PRESS/Paul Chiasson
Border quarantine to soon lift for fully vaccinated Canadians

Eligible travellers must still take multiple COVID-19 tests

A portion of the George Road wildfire burns near Lytton, B.C. in this Friday, June 18, 2021 handout photo. THE CANADIAN PRESS/HO, BC Wildfire Service *MANDATORY CREDIT*
Blaze near Lytton spread across steep terrain, says BC Wildfire Service

Fire began Wednesday and is suspected to be human-caused, but remains under investigation

Blair Lebsack, owner of RGE RD restaurant, poses for a portrait in the dining room, in Edmonton, Friday, June 18, 2021. Canadian restaurants are having to find ways to deal with the rising cost of food. THE CANADIAN PRESS/Jason Franson
Canadian restaurateurs grapple with rising food costs, menu prices expected to rise

Restaurants are a low margin industry, so there’s not a lot of room to work in additional costs

RCMP crest. (Black Press Media files)
Fort St. John man arrested after allegedly inviting sexual touching from children

Two children reported the incident to a trusted adult right away

Most Read