Castlegar has a spot on a list of the top 100 neighbourhoods set to lead growth in Canada, according to a September 26 RE/MAX Network and Verico Financial Group report.
The list, which was compiled by the Canadian Real Estate Wealth Magazine, is based on statistics including population, average home price, capital growth and vacancy rate.
Just eight communities on the list were found in B.C. and many of the most promising neighbourhoods were found in small towns.
The news that Castlegar made the list came as no surprise to local REMAX realtor Barry Brown.
“Castlegar has always been positioned to grow because it is the centre of the West Kootenays,” he said. “[It’s] on Highway 3, a diversity of surrounding industries, the West Kootenay Regional Airport and Selkirk College.”
Brown said a buyers market exists currently — most buyers are not that rushed because of the depth of inventory available. The area itself also has a good mix of urban and city properties and the huge variety of recreational actives available in all four seasons is another big draw.
“The average sale price is $254,000 for the past 12 months,” said Brown. “Single family listing prices in Castlegar and area see a range from $99,900 up to $849,000.”
Brown said houses that are priced right still sell quickly.”So if a buyer finds a home that they like, they should proceed with an offer,” he said.
The other seven B.C. neighbourhoods poised to lead growth in Canada are (not ranked):
– Fort St. John (entire community)- neighbourhoods of Colwood and Langford in Greater Victoria- Kitimat (entire community)- Lynn Valley in North Vancouver- Whalley in Surrey- Terrace (entire community)- Grandview-Woodland in Vancouver
Elton Ash, RE/MAX of Western Canada regional executive vice-president said in a release that no longer are big cities dominating the real-estate investment landscape.”As this report clearly shows, investment opportunities abound across Canada, both in bigger cities and smaller towns,” said Ash.