Castlegar real estate market holds steady

Castlegar real estate sales stayed consistent in 2015.

Castlegar real estate sales stayed consistent in 2015.

Derek Sherbinin, broker for Century 21, said sales in the Castlegar area are divided into sales within the city limits and sales in the outskirts of Castlegar, and sales within city limits were actually down by 21 per cent; however, sales on the outskirts were up 35 per cent.

Both number and volume of sales were down 21 per cent within city limits and up 35 per cent on the outskirts, suggesting that the average sale price ($275,000 in 2015 within city limits, and $291,000 on the outskirts) didn’t change very much.

Lorene MacGregor, broker and owner of RE/MAX Home Advantage, said that the average sale of a home went up by about $5,000 this year, but overall that represents less than a 2 per cent increase.

She also said that RE/MAX sold 30 per cent more homes this year that they did last year.

Sherbinin said that houses that sold within city limits in 2015 also sold 10 per cent faster than they did in 2014. The average time to sell in 2015 was 98 days.

“And that’s probably because we had 20 per cent [fewer] listings in 2015 compared to 2014,” he said.

But the overall picture was one of stability and consistency.

“The interesting thing about the Castlegar market in particular is that it’s especially if you took a five or six year snap shot of the market it’s remarkably consistent. So you know, you’ll always have small variations in the market, but no drastic inflation or deflation,” said Simon Laurie, broker for Castlegar Realty.

Laurie said that sales for Castlegar Realty were steady in 2015.