The Kootenay Real
Estate Board (KREB), in data released last week, reported that the total value
of real estate sales for the East and West Kootenays for the three months to
the end of March 31, 2013 was $79 million, a significant decline of eighteen
and one half percent (18.5%) from the same period for 2012. The total number of
properties that traded hands in the first quarter of 2013 was reported to be 317,
down from 385 for the same period last year; a significant decrease of eighteen
percent (18%).
Going against the regional trend, real estate sales in Golden improved significantly over
last year. Cumulative residential property sales in the town of Golden for the three
month period ending March 31 2013 were $2.1 million. Fourteen properties were
sold during the quarter compared to only six properties that traded hands in
the same period for the previous year.
In Canyon Ridge, six more lots were sold in the first
quarter of 2013. The majority of the lots in foreclosure in Canyon Ridge have
now been sold however there remain 10 or more lots available at distressed
prices.
In Rural Golden, seven residential properties sold in the
first quarter of 2013 compared to the nine properties that sold during the same
period in 2012. Total real estate sales for the 3 months ending March 31, were $3.0
million in 2013 compared with $2.6 million in 2012, an increase of fourteen
percent (14%).
2013-04-19
Keith W Hern
