The Kootenay Real Estate Board (KREB), in data released last
week, reported that the total value of real property sales for the East and
West Kootenays for the 12 months to the end of December 31, 2012 was $625
million up sixteen percent (16%) over the same period for 2011. The total
number of properties that traded hands was reported to be 2376 up from 2112
last year, an increase of thirteen percent (13%).
In the town of Golden, cumulative residential property sales
for the year-ending December 31, 2012 were $8.9 million compared to $9.7 million
for the year 2011, a drop of eight percent (8%). This is the lowest level of
real estate sales since 2001 and well below the peak of $23.4 million reported
in 2007. A total of 50 properties traded hands in 2012 up from 42 properties
that traded hands in 2011. Although the number of properties that traded hand
is up, the average sales price in 2012 at $178,521 has suffered a twenty two
percent (22%) decline from an average price of $229,997 in 2011.
In Rural Golden, 2 residential properties sold in December
bringing the total for the year to 46 compared to the 36 properties that sold
in 2011. Total real estate sales for the 12 months ending December 31, 2012 were
$13.8 million in 2012 compared with $10.9 million in 2011, an increase twenty
seven percent (27%). The average sale price in Rural Golden reported as
$301,010 is essentially the same as in 2011.
