Residential real estate sales bounced back in June after a stretch of muted activity, reports the Association of Interior REALTORS® (the Association).
A total of 1,494 residential unit sales were recorded across the Association region in June, coming in slightly above May’s 1,482 units and up 8.5 per cent compared to units sold in June last year.
New residential listings saw a 0.5 per cent increase compared to June 2024 with 3,275 new listings recorded last month. The total number of active listings saw a 5.6 per cent increase in inventory compared to June 2024 with 10,543 recorded across the Association region.
“June brought a welcome rebound in residential real estate sales, suggesting that the market is regaining its footing after a sluggish spring,” said the Association of Interior REALTORS® President Kadin Rainville.
“While we’re not yet back to historic levels, the positive momentum is notable given the lingering economic uncertainty from unresolved trade policies, which have weighed more heavily on other markets in the province.”
What’s happening in the Kootenay-Boundary
In the Kootenay and Boundary region, 299 sales were recorded last month, marking a 4.9 per cent increase compared to June last year, yet down from the previous month’s 310 units sold.
There were 524 new listings recorded in the Kootenay and Boundary region in June marking a 4.4 per cent decrease compared to the same month the previous year and down from May’s 597 new listings.
The overall active listings in the Kootenay region saw a 1.3 per cent increase compared to June 2024 with 1,807 listings recorded.
“The Kootenay and Boundary region continues to outperform long-term trends, with activity staying above the 10-year average. The small dip in monthly sales is offset by strong year-over-year growth, pointing to solid and sustained demand,” said Rainville.
“While new listings are down compared to last year, active listings remain healthy for a region where listings tend to move quickly, and inventory is typically lean.”
The benchmark price, a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes”, saw percentage increases in the Kootenay region in the single family and townhome housing categories compared to the same month the previous year, with 9.9 per cent and 3.6 per cent increases respectively, coming in at $604,600 and $535,700.
The benchmark price for condominiums saw a decrease of 4.1per cent in year-over-year comparisons coming in at $322,200.
Be the first to know! Don’t miss out on breaking news and daily updates in your area. Sign up to MyNelsonNow News Alerts.
