Just the Stats!
Since your home is often your biggest investment, like any investment, everyone always wants to know where the market is at. We all have access to the newest listings — but how many of them are selling, and for how much?
In this, my second column in my new biweekly real estate column in the Mountaineer, I am starting a new quarterly stats story, called ‘Just the Stats.’ Each quarter I will update you with the latest numbers from the past months, and explain as concisely as possible what’s driving those statistics.
First time buyers are taking the plunge this year with gusto. The stage was set with low interest rates and a good number of properties in the more manageable $300,000 average price range.
Many buyers (including myself) who have fallen in love with Revelstoke and realize the benefits of home ownership and made the commitment to become taxpayers in our amazing mountain town. The influx of sales this year is a good sign of the strength and sustainability of Revelstoke’s future. We have world-class adventure and a connection with nature not found everywhere. The new fibre internet installed this year allows web-based workers to commit to Revelstoke.
Here is a breakdown of the type of home sales since January 1, 2015:
- 104 Single Family Residential sales
- 14 manufactured home sales
- 13 strata sales. A number that will continue to rise as we see the demand for turn-key type residences become available.
- 8 lots & acreages
- For a total of 139 Residential properties
- Add 5 Commercial properties and one commercial lot
- For a Grand Total of 145 sales so far in 2015
Number of Single Family sales / month in the past three years:
| Month | 2013 | 2014 | 2015 |
| Jan | 4 | 8 | 6 |
| Feb | 7 | 4 | 3 |
| Mar | 6 | 9 | 9 |
| Apr | 8 | 15 | 11 |
| May | 13 | 7 | 17 |
| Jun | 8 | 14 | 18 |
| Jul | 7 | 11 | 17 |
| Aug | 4 | 15 | 20 |
| Sep | 18 | 13 | 20 |
| Oct | 12 | 14 | 16 |
As you can see, compared to the monthly averages in 2013 and 2014, since May of this year, sales volumes are up significantly.
Average Sale price of Single Family Homes in the past three years:
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Since the sales volumes are up since May of 2015, the numbers since then provide a more reliable average number, since one very expensive or very inexpensive property will not skew the average as much. As you can see, Revelstoke single family homes are averaging in the $350,000–$375,000 range since spring.
Current Listings:
- 147 total listings
- 66 of them Single Family Residential
Thanks Revelstoke!
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