Residential real estate sales in April held firm at a measured pace, supported by a decent amount of available inventory, reports the Association of Interior REALTORS® (the Association).
A total of 1,317 residential unit sales were recorded across the Association region in April, coming in above March’s 1,143 units and nudging 0.6 per cent above units sold in April last year.
New residential listings saw a modest increase of 0.8 per cent compared to April 2024 with 3,440 new listings recorded last month. The total number of active listings saw a 6.4 per cent increase in total inventory compared to April 2024 with 9,400 recorded across the Association region.
“While demand in the market remains strong, ongoing economic uncertainty —exacerbated by tariffs — may have tempered typical seasonal sales momentum,” says the Association of Interior REALTORS® President Kadin Rainville.
“Some potential buyers could be waiting on the sidelines for clearer signals on the economic outlook before acting on their intentions.”
“With the federal election now behind us, there is a sense of cautious optimism that renewed economic strategies may emerge. It remains to be seen whether the coming months will bring a return to typical seasonal momentum, especially given the strength of underlying demand.”
Kootenay-Boundary outlook
In the Kootenay and Boundary region, 262 sales were recorded last month, marking a 1.5 per cent decrease compared to April last year, yet up from the previous month’s 251 units sold.
There were 567 new listings recorded in the Kootenay and Boundary region in March marking a 0.5 per cent decrease compared to the same month the previous year and an increase from March’s 479 new listings.
The overall active listings in the Kootenay region saw a 11.6 per cent increase compared to April 2024 with 1,592 listings recorded.
“While inventory levels in the Kootenay and Boundary region are now comparable to those seen in 2019, supply remains tight,” notes Rainville.
“This reflects a familiar pattern for the area, which has historically faced challenges in building enough inventory to meet steady buyer demand.”
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 6.5 per cent and 12.9 per cent increases respectively, coming in at $631,000 and $539,300.
The benchmark price for condominiums saw a decrease of 0.7 per cent in year-over-year comparisons coming in at $336,600.
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