Continued rise in residential sales, sets up Kootenay real estate for a booming year ahead
Nelson, BC – 06-05-2021: The Kootenay Association of REALTORS® (KAR) reports that a total of 417 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2021, a rise of 259.4 per cent from April 2020. The average MLS® residential price in the region was $443,274, a 34.4 per cent rise from $329,750 recorded in the same month last year. Total sales dollar volume in April was $184.8 million, a 383.2 per cent rise over April 2020, which stood at $38.2 million.
April 2021 sales numbers are substantially higher than April last year. According to KAR President, Chuck Bennett, “We can’t compare the situation in April 2020 to the times we are in now. We’ve come a long way in the last 12 months. Realtors® and real estate stakeholders alike, have acted as support systems for each other during the pandemic. This has resulted in real estate transaction processes evolving to suit the consumer in such a way that it favours both sellers and buyers to get through a transaction in the simplest way possible. Add that to the current demand, and we get a scenario that’s conducive for all parties venturing into the Kootenay real estate market.”
The number of Year-To-Date (YTD) sales in 2021 has surpassed recent real estate performance in the region by some distance. Bennett adds, “The region has always been a lucrative proposition for buyers who are looking for more value for their money spent in real estate. Due to the current demand, we’re selling new listings as soon as they come up, and often with multiple offers. This has made sellers approach the current situation with positivity, and many find this to be the perfect time to enter the market. This may be one reason why 2021 year-to-date has seen more listings added than any of the last 5 years. Even though the market may get slower in the coming days due to buyer fatigue, 2021 will still be the best year for Kootenay real estate in a long time.”
Year-to-date (YTD), Kootenay MLS® residential sales dollar volume in April was $567.9 million, 155 per cent higher as compared to the sum in the first 4 months last year. YTD residential unit sales were up by 99.2 per cent at 1315 units, while the average MLS® residential price (YTD) was up by 28 per cent to $431,904. As of April 06, 2021, there were 890 active residential listings in the Kootenay region.
Kootenay Association of REALTORS® (KAR)
102-247 Baker Street
Nelson, BC V1l 4H4
April Residential Units Sold, Dollar Volume and Average Sales:
Y-T-D Residential Units Sold, Dollar Volume and Average Sales:
East Kootenay: Cranbrook, Cranbrook Lakes, Creston, Creston rural, Elkford, Fernie, Fernie rural, Invermere, Invermere rural, Sparwood, Radium, Kimberley, Kimberley/Cranbrook rural, Golden, Golden rural
West Kootenay: Castlegar, Castlegar Rural, Grand Forks, Grand Forks Rural, Grand Forks Rural West, Nelson, Nelson Rural, Rossland, Trail, Trail rural