Ready for a real estate ride through the Kootenays? Q1 2025 came in hot—with a surge in sales, rising prices, and buyers dusting off their mortgage calculators. Let’s break it all down.
📈 Market Activity & Performance
Residential Sales
Kootenay kicked off the year like it had espresso in its tank. January 2025 recorded 806 residential sales, a whopping 27.3% increase over January 2024. That also beat out December’s 716 sales. New Year, new market energy!
Benchmark Prices
Here’s what homes are going for in the region:
- 🏡 Single-Family Homes: $572,000 (+4.5% YoY)
- 🏘️ Townhomes: $500,400 (+10%)
- 🏢 Condos: $339,600 (+19.1%)—yes, you read that right. Condos are having a glow-up.
Inventory Levels
Active residential listings reached 1,376, up 12.8% from last year. It’s the highest since 2017. But before you think we’re drowning in listings—it’s more about last year’s sales slowdown than a flood of new homes hitting the market.
🗺️ Regional Highlights: Spotlight on Creston Valley
Creston brought a calm but confident vibe to Q1:
- Residential Sales: 23 homes sold, with a benchmark price of $486,300.
- Townhomes & Apartments: A quiet quarter with zero sales—seems Creston folks like their space.
- Rural Charm: Creston Rural homes clocked in at $607,800, proving a little extra land goes a long way.
💸 Affordability & Investment Appeal
Let’s talk dollar signs. The Kootenays’ composite benchmark price was $516,500 in March—roughly 65% lower than the Central Okanagan and $115,000 less than the South Okanagan. Translation: your dollar stretches farther here. Investors and first-time buyers, take note—this market’s still got room to run.
📉 What’s Fueling the Market?
Mortgage Rates
Mortgage rates took a friendly dip—from 3.5% in 2024 down to 2.8% in Q1 2025. Buyers noticed, and suddenly, pre-approvals were flying faster than spring robins.
Global Drama, Local Calm
Despite ongoing U.S. tariffs and global economic hiccups, the Kootenays stayed cool. A little cautious optimism never hurt anyone.
Politics on the Horizon
Heads up: Canada’s federal election is set for October 2025. Policy shifts (especially around housing and taxes) could nudge the market later in the year. For now, we’re coasting.
🔮 Looking Ahead: The Rest of 2025
- Seasonal Trends: Expect the usual spring-and-summer uptick in listings. Buyers may play wait-and-see due to the political and global backdrop.
- Mortgage Renewals: Some homeowners may face higher payments than during the good ol’ pandemic-rate days, but the region’s affordability should soften the blow.
🏁 Final Take
Q1 2025 proves the Kootenay Region is back in the game—with affordable homes, increased buyer confidence, and prices that (so far) aren’t trying to join the stratosphere. While global and political factors could stir the pot later in the year, the Kootenays remain a solid choice for buyers, sellers, and investors alike.
TL;DR: If the Kootenays were a stock, now might be the time to buy connect with us today 250-428-6600