Residential real estate sales in March maintained a steady pace, supported by healthy inventory levels, reports the Association of Interior REALTORS® (the Association).
A total of 1,143 residential unit sales were recorded across the Association region in March, coming in above February’s 914 units and up 11.9 per cent compared to units sold in March last year.
New residential listings saw a moderate increase of 3 per cent compared to March 2024 with 3,214 new listings recorded last month.
The total number of active listings saw an 8.3 per cent increase in total inventory compared to March 2024 with 8,374 recorded across the Association region.
“While market activity may have felt somewhat subdued across the region compared to previous years, we still saw the typical seasonal uptick that usually comes as we head into the busy spring market,” says the Association of Interior REALTORS® President Kaytee Sharun.
“While the broader economic uncertainty surrounding tariffs may be contributing to an atmosphere of hesitation, home sales and inventory levels are maintaining a healthy pace, as demand and the need for housing remain strong.”
In the Kootenays
In the Kootenay and Boundary region, 251 sales were recorded last month, marking a 5 per cent increase compared to March last year, and up from the previous month’s 204 units sold.
There were 479 new listings recorded in the Kootenay and Boundary region in March marking a 6.4 per cent increase compared to the same month the previous year and an increase from February’s 365 new listings.
The overall active listings in the Kootenay region saw a 12.8 per cent increase compared to March 2024 with 1,376 listings recorded.
“The Kootenay and Boundary region real estate market showed typical levels of activity last month, with steady sales hovering around the 10-year average,” says Sharun.
“Although we saw an initial spike in new listings early in the year, inventory levels have since normalized, providing a balanced environment for both buyers and sellers.”
The benchmark price, a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes”, saw percentage increases in the Kootenay region in all housing categories compared to the same month the previous year, with the highest percentage increase of 15.2 per cent recorded in the townhome category, coming in at $528,400.
The benchmark price for condominiums saw an increase of 8.6 per cent in year-over-year comparisons coming in at $352,600 and the benchmark price for single-family homes saw a 5.5 per cent increase, coming in at $613,400.
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