2021 sets a new record for average sale price of a single family home, in the Kootenay Region.
See full press release from Kootenay Association of Realtors® HERE
There were 3979 residential units sold in the Kootenay region in 2021. According to KAR President, Bruce Seitz, “This is an annual sales record for us. After the COVID lockdowns in the early days of 2021, as REALTORS® we observed that the Kootenay region garnered some positive attention from real estate buyers, resulting in nearly 300-350 units being sold every month for most of last year. This was mainly due to pent-up demand for real estate in the province, and because our region provided good value for money to the average buyer. While some more popular regions were navigating through high prices and external pandemic-related factors, sellers in the Kootenay region benefitted and were able to confidently list and sell properties with the help of agents who skillfully supported them during some challenging times in 2021. As demand for homes in the province was higher than usual last year, the Kootenay region became a more desired residential property location in the province, resulting in nearly 4000 sales.”
Monthly average price for residential properties reached an all-time high of $510,303 in December 2021. Seitz adds, “For the last 6 months, we have been on course to reach the $500k mark for the monthly average residential price. There’s no denying the fact that we’ve been in a seller’s market for a long time now and these market circumstances, when coupled with high demand and multiple offer scenarios, are bound to fetch higher prices for properties that would’ve otherwise been sold for less. As such, we’ve kept a keen eye on the inventory numbers that have dwindled to record-lows in the past few months. As increasing average prices are directly linked to falling inventory, I don’t see any reduction in the upward pressure on average prices any time soon. Sellers will continue to benefit from the high demand for homes in the Kootenay region through 2022 and the year will present a perfect scenario for those who look to derive more value for their properties.” Kootenay Association of REALTORS®
As you can see, Golden, BC Real Estate is on par with the increases seen all around the Kootenay’s. While single family home prices have increased dramatically , the biggest increases we have seen in our area are in condo’s at Kicking Horse Mountain Resort, mobile home sales in town and ANY AND ALL Land or Lots! If you are thinking of selling NOW MAY BE A GREAT OPPORTUNITY!
These statistics are generated from RealtyServer Systems Inc. / MLS® database. Understand that the information on this site are provided “as is” without any warranty or condition, express, implied or statutory.