East Kootenay Real Estate Reaches "Record High" in Q1 2019

(Supplied by Pexels)

Keystone Appraisals says home prices in the East Kootenay rose sharply in the first few months of this year.

According to a new report from the local appraisal company, the average price for a house in the region reached approximately $465,000 in March.

That is up from around $380,000 in January 2019 and $375,000 at the start of last year.

Keystone Appraisals reports that, from March to April, the average sales price did fall from its record level to an estimated $430,000, although it is still a $55,000 increase from April 2018.

Over in the West Kootenay, the opposite appears to be true.

"Across the West Kootenay and Kootenay Boundary, average residential sale prices have been increasing through the first four months of 2019 but are still below the peak(s) experienced in 2018," the company says.

In December 2018, a typical house cost around $360,000 and fell to $340,000 by April 2019.

Keystone Appraisals previously told Summit 107 that they do not provide additional comments on their quarterly reports.

See the graphs below for more information.

East Kootenay average home sales prices from 2016 to Q1 2019. (Supplied by Keystone Appraisals).

West Kootenay average home sales prices from 2016 to Q1 2019. (Supplied by Keystone Appraisals).

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