By most measures, real estate activity in the Kootenay-Boundary was down last month, although prices were up.
According to the Association of Interior Realtors, there were 278 residential sales in the region in August, down from 312 units sold the previous month. However, it was a 0.7 per cent increase on August 2024.
The 429 new listings in the region were down 8.3 per cent compared to the same month the previous year and also down from July’s 462 new listings. Overall active listings stood at 1,779, which was a 4.3 per cent decrease compared to August 2024.
“The slight decline in new and active listings suggests that inventory levels are adjusting, which can help balance supply and demand over the longer term,” association president Kadin Rainville said in a news release.
“Overall, it’s encouraging to see the market maintaining a steady pace, as this points to resilience and positions the region for healthy market conditions moving into the fall.”
The benchmark price, which realtors say is a better representation of value compared to the average or median price as it represents a home of typical attributes, saw percentage increases in the single-family and townhome categories.
Compared to the same month the previous year, there were 2.5 per cent and 3.1 per cent increases respectively, coming in at $627,200 and $528,100. The benchmark price for condominiums decreased 5.1 per cent in year-over-year comparisons, coming in at $314,900.
Total dollar volume of all transactions in the Kootenay-Boundary was $153.2 million, which was up 2.9 per cent over August 2024.
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