This article first appeared in print in the January 2020 issue of Revelstoke Mountaineer Magazine.
Each quarter, Emily Beaumont reviews Revelstoke real estate statistics for our Just the Stats! column. This quarter, she has reviewed the 2019 statistics, minus the last couple weeks of the year due to our press deadline.
Winter has once again arrived in our snow globe town of Revelstoke and the real estate market remains active.
As of mid-December, there are 91 Single Family Residential sales compared to 94 in 2018.
In 2019, 61 sales were in in the $400,000 to $700,000 range, 15 were under $400,000 and 15 above $700,000.
The average sale price for a single-family residential home in 2019 was $567,000 compared to $538,000 in 2018.
There was an increase in the overall sales volume by 2%. The number of sales is down, but the prices are just slightly up.
The average number of days on market for 2019 is down to 70 from 89 in 2018. Sellers are updating listing prices and the demand for single-family homes remains strong.
Land only sales are up, with 56 sales in 2019 compared to just 31 sales in 2018.
The average sale price for land is also up, at $251,000 compared to $193,000 in 2018.
The average days-on-market-to-sell was 110, compared to 68 days in 2018. Prices are higher, which accounts for the additional time to sell, but there remains a strong demand for single family lots.
2020 will be an exciting year with plans for new subdivisions, homes and townhomes.
Wishing everyone the magic of the season from the team at Royal LePage Revelstoke!