This article first appeared in print in Revelstoke Mountaineer Magazine’s April/May 2021 Home & Building issue. Read the entire e-edition here:
With the realization of what is tremendously important in life emerging for many people, Revelstoke’s real estate market has become increasingly active.
The sales volume is up by 18% the first quarter, this year over last.
At March 14, 2021 there were 96 single family residential sales in the past 12 months compared to 90 year-over-year.
The average sale price is up 7.6% this year over last at $734,000 versus $688,000 in the same period a year ago.
Nearing the end of the first quarter of 2021:
-Just one of the 20 homes sold was under $500,000
-Three properties sold above $1 million
-In 2019, 25 of the 85 homes sold were in the $500,000 range
Currently there are only 27 homes on the market.
There have been just seven land-only sales to date. Of the 17 lots listed, just three of them are under $450,000.
The average sale price for land is $350,599. In 2019 it was $251,430, and just last November it was $299,226.
Revelstoke is coming alive again this spring — people are waking up from winter! Revelstoke’s abundant natural surroundings are extremely attractive, but we need to find a way to make sustainable, functional and create affordable housing more attractive for development. People need a place to live, but it is a basic right that is becoming unattainable. This is unacceptable.
How do we motivate those who need to be motivated to open up to the new direction that has to emerge to allow for the solutions that already exist, and incorporate them into daily operation. We can solve the greatly needed affordable housing issue for Revelstoke’s diverse community! Now is our chance; we can still get it right, use the creative ways we know are out there. Thoughtfully planned, it’s an idea whose time has come!
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