Revy First Quarter 2016 Stat Update
Real estate sales have remained strong with 27 single family home sales in the first quarter of 2016, with many first time home buyers and international purchasers investing in Revelstoke. The lack of inventory remains as the few homes on the market are getting sold within days if priced well.
Many purchasers are now looking at land as a viable option — and why not with some spectacular neighbourhood lots now available and the opportunity to build a custom home. We’ve got some talented builders and some creative mortgage info tailored for the land/build process.
With interest rates still low and Revelstoke’s popularity growing, it’s looking like it’s going to be a busy year. Whether you’re buying or selling we can help make the big decisions a little easier. Call today to find out all we can do for you!
Here is a breakdown of the type of home sales from January 1 to March 31, 2016 and the totals from the first quarter in 2015 for comparison:
- 27 Single Family Residential sales, up by 15
- 6 Manufactured Home sales, up by 2
- 2 Strata sales, down 1
- 5 Lots & Acreages, up 4
- For a total of 40 Residential Sales up 20 from last year’s first quarter.
Number of Single Family sales from the first quarter in the past 4 years:
| 2013 | 2014 | 2015 | 2016 | |
| Single Family Residential | ||||
| Jan | 4 | 7 | 3 | 6 |
| Feb | 3 | 1 | 2 | 10 |
| Mar | 5 | 7 | 7 | 11 |
| total | 12 | 15 | 12 | 27 |
| Manufactured Homes | ||||
| Jan | 1 | 2 | ||
| Feb | 1 | 1 | 1 | 2 |
| Mar | 1 | 1 | 2 | 2 |
| total | 2 | 2 | 4 | 6 |
| Strata* | ||||
| Jan | 1 | 1 | ||
| Feb | 1 | 2 | ||
| Mar | 1 | 2 | ||
| total | 3 | 3 | 2 | |
| Lots & Acreages | ||||
| Jan | 1 | |||
| Feb | 3 | 1 | 2 | |
| Mar | 3 | |||
| total | 3 | 1 | 1 | 5 |
Average Sale price of Single Family Homes in the past 3 years:
| 2013 | $331,109 |
| 2014 | $333,230 |
| 2015 | $345,101 |
Average Sale price of Single Family Homes in the past 3 months:
| Jan -Mar | $357,146 |
Current Listings:
- 142 total listings
- Just 42 of them Single Family Residential. Many have accepted conditional offers waiting for subject removal which makes the deal firm and legally binding. They’re not reported sold until the subject removal form is signed by all parties.
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