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 nine months to the end of September, 2013 was $484 million, a
decline of six percent (6%) from the same period for 2012. The total number of
properties traded in the first nine months of 2013 was reported to be 1834, a
decrease from 1942 for the same period last year; a decrease of six percent (6%).
The robust recovery in the Kootenay real estate market that started in 2012
appears to have stalled.
In Golden in 2013, the real estate market is making a
comeback. Cumulative residential property sales for the nine month period
ending September 30th 2013 were $8.6 million, an increase of twenty three
percent (23%) from total sales of $7 million for the same period in 2012. Thirty
seven properties were sold during the first nine months of the year compared to
thirty six properties that traded hands in the same period for the previous year.
The numbers tell a significantly different story in Rural
Golden with a much weaker real estate market so far in 2013. Thirty residential
properties sold in the first nine months of 2013 compared to thirty-nine properties
that sold during the same period in 2012. Total real estate sales for the nine months
ending September 30, were $9.7 million in 2013 compared with $12 million in
2012, a decline of nineteen percent (19%).
