Just the stats! 2017 Revelstoke real estate third quarter statistics

Revelstoke's real estate market remains tight with just 43 single family homes on the market, many of which have accepted conditional offers.

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Real estate stats for Revelstoke reveal the need for more housing under $400,000. Photo: Sarah Mickel/Royal LePage Revelstoke

Like the mighty Columbia River, the Revelstoke real estate market continues to flow. Sale prices have corrected and are holding after the influx when the market began to pick up again in 2015. Properties priced under $400,000 and at fair market value make up the bulk of the sales. Inventory remains sparse with just 43 single family homes on the market, many of which have accepted conditional offers.

Here is a breakdown of the different types of property sales at the end of each quarter so far in 2017:

Third

  • 71 Single Family Residential sales
  • 13 Manufactured Home sales
  • 21 Strata & Recreation sales
  • 35 Lots & Acreages
  • For a total of 140 Residential Sales

Second

  • 42 Single Family Residential sales
  • 6 Manufactured Home sales
  • 13 Strata & Recreation sales
  • 20 Lots & Acreages
  • For a total of 81 Residential Sales

 First

  • 15 Single Family Residential sales
  • 5 Manufactured Home sales
  • 3 Strata & Recreation sales
  • 11 Lots & Acreages
  • For a total of 34 Residential Sales

 Number of Single Family Residential Home sales by Month the past three years:

Month 2015 2016 2017
Jan 3 6 3
Feb 2 10 4
Mar 7 11 8
Apr 8 8 6
May 13 10 9
Jun 12 10 14

 

Average Sale price of Single Family Homes the past 3 years:

Average Sale Price
2015 $345,101
2016 $376,931
2017 – 1st Q $386,133
2017 – 2nd & 3rd Q $458,296

Current Listings:

  • 13 Commercial
  • 94 Residential
  • 41 of those are ‘Single Family’ residential. Many have accepted, conditional offers waiting for subject removal which makes the deal firm and unconditional. A property is not reported sold until the subject conditions are removed.

Bottom line: more “homes” (under $400,000) are needed. What we think of as a home is also continuously changing with the evolution of the design/build process. We need cooperation and continued expansion of allowable home design to foster the trends brought to life by the incredible people, from all over the globe, making Revelstoke their home.

The Columbia will flow and Revelstoke will grow. Let’s also hope the path ahead takes into account the preservation of the natural playground we are all attracted to. This is what brought many of us here!

The growing pains are far outreaching and go deep. We’ve got some interesting times ahead. There is demand, but the supply is delayed. So we wait. Let it snow!

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Emily Beaumont
Emily has been enjoying the vibrant community of Revelstoke since the spring of 2007 relocating to our Big Mountain Town from Ontario. Having spent almost 20 years in the marketing and advertising industries, with six of those years as a licensed Realtor in BC, she brings a wealth of knowledge to the table & understands the intricacies with providing outstanding client care. Her dedication & enthusiasm for both her work and active lifestyle in Revelstoke shines through. Contact Emily at 250-837-1162 or through the link to her Realtor Facebook page located below this text.