June reports show consistent real estate sales growth in the Kootenay region
Updated: 5 hours ago
Nelson, BC – 07-07-2020: The Kootenay Association of REALTORS® (KAR) reports that a total of 317 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June 2020, a rise of 9.6 per cent from June 2019. The average MLS® residential price in the region was $372,746, a 9.4 per cent rise from $340,484 recorded in June last year. Total sales dollar volume in June was $118.1 million, a 20 per cent rise over 2019, which stood at $98.4 million.
According to KAR President Tyler Hancock, “Sales numbers in the Kootenay region have improved in June as compared to May 2020 but we are still not where we expected to be at this time. This initial momentum is similar to what we see after the winter holidays, where numbers improve because things get back in business. I see a similar trend here. We have smoothly transitioned back to daily business after the isolation due to coronavirus.”
June (Year-to-date) sales numbers in the Kootenay region stood at 1148, a 5 year low. After a very slow spring, it was predicted that would continue to grow over summer. “I can’t disagree that we as REALTORS® have adapted to the market quite quickly. Government policies have been favourable, but many other market aspects must be considered before predicting what the rest of 2020 holds. This kind of growth may be a result of pent-up demand. We should proceed with cautious optimism before considering this rise in sales numbers to be a sign of complete normalcy in the regional market.”
Average Days on Market (DOM) continues to be the same in the region. According to real estate stakeholders, the processes of conducting transactions have remained nearly the same through the pandemic. And new technology has contributed positively.
Year-to-date (YTD), Kootenay MLS® residential sales dollar in June was $404.2 million, 11.8 per cent lower than what was last year. YTD Residential unit sales are lower by 15.3 per cent at 1148 units, while the average MLS® residential price (YTD) was up nearly 4 per cent to $352,121.
Kootenay Association of REALTORS® (KAR)
208 – 402 Baker Street,
Nelson, BC V1L 4H8
June 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
Units Sold (Jan 2020 onward) comparison:
Average Sales Price (Jan 2020 onward) comparison: