Housing
Housing Market Overview
The South Kootenay real estate market experienced a slump in the 1990's, and as a result the price of homes and rent lagged far behind the rest of the province. The trend reversed in 2005 when an influx of lifestyle amenity migrants relocated to the region spurring many new residential and commercial developments that placed increasing demands on the existing housing stock. The sale of the local ski hill and golf course spurred new developments that targeted the ski, golf and cycling enthusiasts. As the housing stock diminished the value of residential homes rose. The housing market leveled off in 2009 when the economic slump occurred, but prices were still considerably lower than urban home prices and less than surrounding municipalities.
Housing Market Outlook
Currently residential home prices are still lower than the surrounding area; however, as the economic recovery continues the market outlook is to see another upward swing in home prices. A contributing factor will be the retention of retirees and influx of new skilled workers. A large number of employees are anticipated to retire from the regions largest employer over the next few years. Retirees seldom leave the area, and many come to the region for the health care services. Currently the employer is hiring just over 100 employees per year, many of whom will require housing.
Real Estate Agents
A great place to compare home prices in the South Kootenay, and across Canada is through MLS (Multiple Listing Service) online. You will find the local real estate agents are very helpful and accommodating, even across the miles. We always recommend those that are not familiar with the region visit before relocating. Your first visit is a great time to meet the local real estate agents, and now is the best time to get to know them via telephone or email.
RE/MAX All Pro Realty in Trail
MLS Online. Choose communities from the Advanced Search button.
Century 21 Real Estate.
Local Accomodations for exploratory visits (Visit section of SouthKootenay.com)
Resort Home Developments
Relocating From Outside Canada
If you are considering relocating from outside Canada, the Canadian housing market may be different than what you are accustomed to. The Newcomers Guide to Housing in Canada is a comprehensive guide that explains the various characteristics and terminology of the Canadian housing market.
The Newcomers Guide to Housing in Canada (500kb PDF)