Residential real estate sales in February maintained a steady momentum while new listings activity tempered slightly, reports the Association of Interior REALTORS® (the Association).
A total of 914 residential unit sales were recorded across the Association region in February, coming in above January’s 806 units and up 11.3 per cent compared to units sold in February last year.
New residential listings saw a moderate decrease of 1.7 per cent compared to February2024 with 2,304 new listings recorded last month.
The total number of active listings saw an 11.8 per cent increase of total inventory compared to February 2024 with 7,346 recorded across the Association region.
“Overall, it was a relatively steady month for real estate transactions, despite a slight decline in new listings,” says the Association of Interior REALTORS® President Kaytee Sharun.
“Typically, we see a seasonal uptick in momentum leading into the spring market. However, external factors—such as economic uncertainty and the potential impact of tariffs—may be among the influences causing a slight easing off the accelerator in real estate activity.”
In the Kootenay and Boundary region, 204 unit sales were recorded last month, marking a 34.2 per cent increase compared to February last year, and up from the previous month’s 168 units sold.
There were 365 new listings recorded in the Kootenay and Boundary region in February marking a 7.0 per cent increase compared to the same month the previous year and an increase from January’s 289 new listings.
The overall active listings in the Kootenay region saw a 15.8 per cent increase compared to February 2024 with 1,252 listings recorded.
“The Kootenay and Boundary region real estate market continues to follow seasonal trends, with steady activity and balanced conditions,” says Sharun.
“Despite a slightly lower-than-ideal supply, well-priced properties continue to attract strong interest, reinforcing the region’s position as one of the stronger markets in the province.”
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 all housing categories compared to the same month the previous year, with the highest percentage increase of 19.2 per cent recorded in the townhome category, coming in at $506,200.
The benchmark price for condominiums saw an increase of 10.7 per cent in year-over-year comparison coming in at $356,000 and the benchmark price for single-family homes saw a 1.7 per cent increase, coming in at $582,100.
Something going on in your part of the Kootenays you think people should know about? Send us a news tip by emailing [email protected].
