The Kootenay region led the association area in increased active listings, rising 18.8 per cent year-over-year to 1,380 units.
The Kootenay residential real estate market showed unexpected strength in November, with sales and activity defying typical seasonal slowdowns, according to the Association of Interior Realtors.
Across the association’s coverage area, 994 residential units were sold, a decline from October’s 1,219 units but a notable 19.9 per cent increase compared to November 2023.
In the Kootenay and Boundary region specifically, sales totalled 194 units, up 9.6 per cent year-over-year, though slightly below October’s 224 sales.
The Kootenay region led the association area in increased active listings, rising 18.8 per cent year-over-year to 1,380 units.
However, new listings in November were down from October, with 248 recorded compared to the previous month’s 330.
Year-over-year, new listings were up 5.5 per cent.
“While real estate market activity typically slows as temperatures drop, the market seems to have held on to some of the recovery seen in the fall with a healthy degree of sales above that of last year November,” says Kaytee Sharun, president, Association of Interior Realtors.
“The welcomed interest rate cuts of recent months may have helped spur a more optimistic outlook throughout the region, which may have contributed to busier than usual activity for this time of year.”
The benchmark price — a more accurate reflection of typical property values — rose across all housing categories in the Kootenay region.
Single-family homes were up 10.7 per cent year-over-year to $612,800; town homes rose in value by 3.2 per cent, and are now at $490,800; and association statistics show condos up 2.8 per cent to $319,200.
The association highlights that affordability in the Kootenays, compared to other regions in the province, continues to draw buyers, with its “bang for your buck” appeal resonating with both locals and out-of-area purchasers.
Sharun attributes the activity to a mix of economic recovery and lifestyle motivations.
“The Kootenay and Boundary region real estate market remains one of the more consistent and stable markets in the association region with November showing strong activity for this time of year” Sharun said. “It is not surprising given that it remains one of the more affordable markets in the province that offers a
desirable lifestyle for many buyers.”
As the Kootenay real estate market closes out the year, according to the association, its robust November performance signals resilience and continued appeal to buyers, even in a cooling season.
