Association of Interior REALTORS® - Kootenay Branch

Residential real estate sales saw a healthy dose of normal activity after sluggish summer start, reports the Association of Interior REALTORS® (the Association).

A total of 1,534 residential unit sales were recorded across the Association region in July, coming in above June’s 1,494 units and up 9.6% compared to units sold in July last year.

New residential listings saw a 0.8% increase compared to July 2024 with 2,920 new listings recorded last month. The total number of active listings saw a 2.3% increase in inventory compared to July 2024 with 10,443 recorded across the Association region. The highest percentage increase in active listings across the Association region was in North Okanagan with a total increase of 6.5% compared to the same month last year.

“For the second month in a row, market activity continues to trend in a positive direction, even with stabilized inventory momentum,” says Association of Interior REALTORS® President Kadin Rainville, adding that “we’re entering a more typical summer rhythm, which suggests the market is starting to recover from the turbulence caused by tariffs earlier this year.”

In the Kootenay and Boundary region, 312 sales were recorded last month, marking an 11.0% increase compared to July last year, and up from the previous month’s 299 units sold. There were 462 new listings recorded in the Kootenay and Boundary region in July marking a 4.7% decrease compared to the same month the previous year and down from June’s 524 new listings. The overall active listings in the Kootenay region saw a 1.4% decrease compared to July 2024 with 1,793 listings recorded.

“The Kootenay and Boundary region’s real estate market continues to show steady performance, consistently outpacing year-over-year activity,” says Association of Interior REALTORS® President Kadin Rainville. “We’re also beginning to see signs of tightening inventory, with active listings starting to trail behind buyer demand. Still, the region continues to stand out as one of the province’s more resilient markets.”

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 the single-family and townhome housing categories compared to the same month the previous year, with 4.6% and 4.3% increases respectively, coming in at $627,800 and $539,900. The benchmark price for condominiums saw a decrease of 6.7% in year-over-year comparisons coming in at $313,600.