West Kootenay real estate already starting to bounce back from COVID dip

In the last 14 days there have been 46 new real estate listings in the West Kootenay.

The West Kootenay real estate market has seen a dip since COVID-19 hit the province, but things are already looking up.

“Things were slower than a typical spring market,” said Castlegar Realty agent Flo Padilla. “But things are starting to pick up more and more.”

British Columbia Real Estate Association stats show that 2020 started out well for the real estate market with both January and February seeing sales increases of more that 23 per cent over the same months of 2019.

March also started out well before the state of emergency for the province was declared mid-month, so it still showed a sales increase of 17 per cent over 2019.

“We are pretty fortunate,” added Padilla. “We are in a good area and things seem to be stabilizing already.”

Padilla says the market is still limited and favours sellers.

READ MORE: West Kootenay 2020 property assessments show mostly moderate increases

In the last 14 days there have been 46 new listings in the West Kootenay and 24 of those have already sold. Some of those properties received multiple offers.

Statistics show prices have remained relatively stable through the COVID-19 pandemic, but that prices are still trending upward in the long term.

Some aspects of buying and selling houses have been affected by COVID restrictions. Open houses are not allowed and buyers are asked to refrain from touching anything in the homes they view. Agents also offer virtual viewings, but Padilla says they haven’t been very popular with buyers.

Padilla says it’s always important for buyers to get pre-approved for mortgages, but it’s even more important now.

“Just make sure you are looking at the right houses you are qualified for,” explained Padilla. “We just need to make sure we are not letting more people through homes than we need to.”

If you are considering selling your house, Padilla recommends you talk with a real estate agent about any concerns you may have with having your home open to others.



betsy.kline@castlegarnews.com

Like us on Facebook and follow us on Twitter

castlegarHousing

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

West Kootenay jogger barely escapes bruin attack

Man spends two hours up in tree, bear not located

Young farmers find a home through land-matching program

Young Agrarians links would-be farmers with landowners who have land to spare

Morning start: A history of the Arrow Lakes

Here is your Kootenays’ morning start for Wednesday, May 27

Restorative pole project underway in Edgewood

The pole was made almost 50 years ago to pay respect to local First Nations

B.C. legislature coming back June 22 as COVID-19 emergency hits record

Pandemic restrictions now longer than 2017 wildfire emergency

B.C.’s essential grocery, hardware store employees should get pandemic pay: retail group

Only B.C.’s social, health and corrections workers are eligible for top-ups

Edmonton, Vancouver and Toronto vying to be NHL hubs, but there’s a catch

The NHL unveiled a return-to-play plan that would feature 24 teams

B.C. sees 9 new COVID-19 cases, one death as officials watch for new cases amid Phase Two

Number of confirmed active cases is at 244, with 37 people in hospital

Nanaimo senior clocked going 50 km/hr over limit says her SUV shouldn’t be impounded

RCMP say they can’t exercise discretion when it comes to excessive speeding tickets

Illicit-drug deaths up in B.C. and remain highest in Canada: chief coroner

More than 4,700 people have died of overdoses since B.C. declared a public health emergency in early 2016

CMHC sees declines in home prices, sales, starts that will linger to end of 2022

CMHC said average housing prices could fall anywhere from nine to 18 per cent in its forecast

B.C. Paralympian named to Canada’s Sports Hall of Fame

Three-time world and Paralympic gold medalist Sonja Gaudet is part of 11-member class

Risk of COVID-19 low in schools, Interior Health states

Medical Health Officer reassures parents as some children and staff head back to class June 1

Most Read