Transactions were up over the same time last year. (File photo)

Transactions were up over the same time last year. (File photo)

Real estate market runs hot through August

East Kootenay Realty reported 154 transactions last month

Despite the pandemic, or perhaps because of it, the real estate market is running hot in the region in 2020.

Owner and president of Royal LePage East Kootenay (EK) Realty, Philip Jones said that transactions in August were up 16.5 percent over the same time last year, and they’d had to hire more people to keep up.

EK Realty, which covers the Elk Valley, Cranbrook and Kimberley reported 154 transactions in August – the busiest month of the year so far.

“We noticed a slowdown of course in March, but since then our market has been extremely busy,” said Jones.

“(It’s been) at or above levels from previous years. In some cases we’re setting new records for the volume of transactions.”

“(July and August) have been exceptionally busy months,” he said, explaining that in previous years summer months tended to be quieter, but now they were turning out to be some of the busiest.

Even the pandemic wasn’t keeping sales down, said Jones.

“People naturally withdrew from the market for a while. But it was not very long. By the time we got into April the market started increasing, and it increased every month through to August.”

Social distancing requirements hadn’t gotten in the way of sales, with some properties selling sight-unseen thanks to virtual tours.

Not only were there more properties changing hands, Jones said there were far more buyers than sellers around, with lots of properties getting multiple offers.

With a shortage of supply in both municipal and rural areas, prices were edging up.

“We’ve had years when we’ve been as busy as this, but not with the prices we have now. When I started in the business we were selling new houses for less than $100,000.”

READ MORE: Fernie real estate market sees effects of COVID-19
Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The Elk Valley Hospital is adapting to meet the needs of patients in the Elk Valley.
Local COVID-19 cases unknown amid second wave

The Elk Valley Physicians have again reminded locals to comply with public health orders to stay safe

The famous band calls Fernie home. (Photo Contributed)
Shred Kelly gets creative with pandemic performances

CBC Radio recently promoted the band, highlighting their recent virtual tour and upcoming plans

A woman wearing a face mask to curb the spread of COVID-19 uses walking sticks while walking up a hill, in New Westminster, B.C., on Sunday, November 29, 2020. THE CANADIAN PRESS/Darryl Dyck
Interior Health reports 83 more COVID-19 infections overnight

46 cases are now associated with a COVID-19 community cluster in Revelstoke

Green spaces have offered many a sense of peace throughout the pandemic. (Photo Contributed)
Nature Conservancy of Canada matches all donations on Dec. 1

The initiative honours Giving Tuesday, an initiative created to combat Black Friday’s consumerism

Signs are posted at the entrance of newly deactivated roads. (Photo Contributed)
Teck hosts virtual Annual Outdoor Recreationalist Meeting

The Dec. 2 meeting will touch on biodiversity, reclamation, and road rehabilitation

A tongue-in-cheek message about wearing a face mask to curb the spread of COVID-19 on a sign outside a church near Royal Columbia Hospital, in New Westminster, B.C., on Sunday, Nov. 29, 2020. THE CANADIAN PRESS/Darryl Dyck
B.C.’s COVID-19 infection count climbs back up to 656

20 more people in hospital, active cases still rising

An RCMP cruiser looks on as a military search and rescue helicopter winds down near Bridesville, B.C. Tuesday, Dec. 1. Photo courtesy of RCMP Cpl. Jesse O’Donaghey
B.C. Mountie, suspect airlifted by Canadian Armed Forces from ravine after foot chase

Military aircraft were dispatched from Comox, B.C., say RCMP

A logo for Netflix on a remote control is seen in Portland, Ore.,Aug. 13, 2020. Experts in taxation and media say a plan announced Monday by the government will ultimately add to the cost of digital services and goods sold by foreign companies. THE CANADIAN PRESS/AP-Jenny Kane
‘Netflix tax’ for digital media likely to raise prices for consumers, experts say

The government says Canadian companies already collect those taxes when they make digital sales

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

BIG SALMON ranch in Washington State. (Center for Whale Research handout)
Non-profit buys Chinook ranch in hopes of increasing feed for southern resident killer whales

The ranch, which borders both sides of Washington State’s Elwha River, is a hotspot for chinook salmon

Gaming content was big on YouTube in 2020. (Black Press Media files)
What did Canadians watch on Youtube during isolation? Workouts, bird feeders

Whether it was getting fit or ‘speaking moistly,’ Canadians had time to spare this year

Fraudsters projected to use pet scams to gouge over $3M from customers: BBB

The pandemic heavily contributed to the number of puppy scams

A teacher places the finishing touches on the welcome sign at Hunter’s Glen Junior Public School which is part of the Toronto District School Board (TDSB) during the COVID-19 pandemic in Scarborough, Ont., on Sept. 14, 2020. THE CANADIAN PRESS/Nathan Denette
Hindsight 2020: How do you preserve a year many Canadians would rather forget?

Figuring out how to preserve the story of the pandemic poses a series of challenges

Most Read