Residential real estate activity across British Columbia's Interior experienced an unexpected deceleration in November, with the holiday season's impact arriving earlier than anticipated. Despite this broader trend, the Kootenay region demonstrated a slight uptick in home sales, buoyed by stable inventory levels that provide a solid foundation heading into the new year.
Key Takeaways
- Kootenay home sales increased by 0.5% year-over-year in November.
- The broader B.C. Interior market saw a 5.1% decrease in sales compared to the previous year.
- Inventory levels remain healthy, supporting market stability.
- Benchmark prices for single-family homes, townhomes, and condominiums in the Kootenays all saw year-over-year increases.
Interior Market Trends
The Association of Interior Realtors reported 939 residential unit sales across the region in November, a notable decrease from October's 1,274 sales and 5.1 percent lower than the same month in the previous year. New listings also declined by 6.6 percent year-over-year, with 1,490 homes entering the market. However, active listings remained stable, showing a modest 0.3 percent increase compared to November 2024, reaching 7,909 units.
Association president Kadin Rainville commented on the early holiday slowdown, noting that while a dip in activity is common as the festive season approaches, November's pace was more pronounced than usual. This pattern appears to be consistent across the province. Despite the slower pace, Rainville indicated that both buyers and sellers remain actively engaged, supported by healthier inventory levels compared to recent years. He described the market's current movement as a "casual stroll" rather than its typical seasonal momentum.
Kootenay Region Performance
In contrast to the broader Interior market, the Kootenay Boundary region recorded 193 home sales in November. This figure represents a 0.5 percent increase over November 2024, although it was a decrease from the 300 units sold in October. New listings in the Kootenays saw a year-over-year rise of 2.8 percent, reaching 254, though this was also lower than October's 362 new listings. Overall active listings in the region climbed to 1,394, a one percent increase from the previous year.
Rainville highlighted that the Kootenay region continues to experience tight supply conditions, attributing this to ongoing challenges in maintaining higher inventory levels, possibly influenced by the area's growing popularity. He expressed encouragement that sales activity largely mirrored last year's levels and anticipates a strong start to 2026 for the region.
Benchmark Price Increases
Benchmark prices, considered a more accurate measure of housing value by the association, increased across all major housing types in the Kootenays when compared to November of the previous year. The benchmark price for a single-family home rose by 1.8 percent to $607,500. Townhomes saw a more significant increase of 3.7 percent, reaching $501,100, while condominiums experienced a 1.9 percent rise to $323,700.
The Association of Interior Realtors, representing approximately 2,600 realtors across various regions of B.C., utilizes the Canadian Real Estate Association's MLS Home Price Index to monitor market trends.
