Local Market Information

Hey everybody! 

Welcome to my newsletter.  If this is your first time, let me explain what we do here.  My goal is to provide value to you, and share what I know about the local real estate market around Nelson, Castlegar, and the Slocan Valley.  Have you ever driven past a house for sale one day, then noticed it sold a few weeks later, and wondered to yourself “I wonder how much that sold for?”  I will answer that question for you!  Every month, I will share with you all of the completed real estate transactions from our area, along with the price of the home, the date it sold, and how long it was on the market for.  If you are thinking of selling your home, or hoping to buy a home in the future, this is great information to become familiar with.  If you read those numbers every month you will become more attuned to the state of the housing market and it will help you understand the true value of your own property, or property you might be interested in.

Second, I will keep you updated on developments and changes in the real estate industry.  Financial forecasts, policy changes, market expectations….anything I can think of that would be valuable for you to know, I will share what the buzz is coming from the authorities in the Canadian Real Estate Association.  

Thank you all for being here!

Happy Spring everybody!  It’s nice seeing everyone outside and smiling because they don’t have to bundle up against the cold anymore.  Well, bundle up as much, anyways.  If you have an AC unit, this is a good time to get someone in for routine maintenance to make sure it’s ok before everyone gets super busy this summer.

Let’s get to the market:

Home prices seem to be stabilizing.  While sales volume and inventory are still low, for the moment prices don’t seem to be dropping any further.  This is likely due to the interest rate increases being paused and signs of inflation beginning to slow.  There still isn’t much housing inventory for the people who are looking to buy, and if it is the right property at the right price homes are still sometimes selling for over asking price.  However, there are still a few sellers out there who haven’t realized that the market has cooled, and are asking far above what their home’s market value really is.  You can see these properties sitting on the market for the last 6 months or more.  In the Kootenays, at least, I would say it is still a bit of a seller’s market, although it is becoming more balanced than it was the last few years.

The BC government is introducing a new plan to fight housing unaffordability by creating a budget to build new homes and make building duplexes, triplexes, and townhomes easier and faster with less red tape on properties traditionally zoned for single-family dwelling.

The so-called Homes for People plan starts with a $4-billion investment over three years and commits to $12 billion over a decade with incentives to build, laws to curb speculation and financial help for renters and homeowners.  The hope is to increase the supply to balance the demand which is skyrocketing prices.

Next year, homeowners will be able to access a forgivable loan of 50 per cent of the cost of renovations, up to a maximum of $40,000 over five years, if they are willing to rent those secondary suites at below market rate for at least five years. The pilot program is expected to be open to at least 3,000 homeowners for the first three years.

However, an increase in immigration is causing the demand on housing to be higher than ever.  BC will welcome an estimated 217,500 new permanent residents from 2023 to 2025 or 100,500 more new permanent residents than would be expected based on historical average immigration levels. This translates to a 20,500-unit increase in housing demand from new permanent residents.  The pace of construction of new dwellings needs to increase by 25% for the next five years to offset this demand.

Will the new policies be enough to make housing more affordable?  Time will tell.  Personally, I anticipate prices in the Kootenays to rebound sometime in the next year, and continue climbing upward.  Especially if the interest rates actually start to come back down.

There were 38 properties sold last month between Nelson, Castlegar, Salmo, and the Slocan Valley.  Here they are:

Address Status Sub Area Price Sold BR Bth DOM Sale Date MLS #
819 7TH AVENUE Sold North Castlegar $513,000 4 3 168 Mar 31/23 2467893
567 9TH AVENUE Sold North Castlegar $409,000 3 2 144 Mar 15/23 2467999
1620 GREYSTONE PLACE Sold South Castlegar $605,000 3 3 137 Mar 21/23 2468150
208-4200 GRANDVIEW DRIVE Sold South Castlegar $392,500 2 2 106 Mar 8/23 2468320
19-2210 COLUMBIA AVENUE Sold South Castlegar $380,000 2 2 127 Mar 29/23 2468329
49-2210 COLUMBIA AVENUE Sold South Castlegar $399,900 3 3 43 Mar 21/23 2468993
3208 5TH AVE Sold South Castlegar $387,500 3 1 22 Mar 1/23 2469053
1516 ASPEN LANE Sold South Castlegar $599,900 3 3 23 Mar 8/23 2469071
1906 RIVERSIDE CRESCENT Sold South Castlegar $482,500 4 3 35 Mar 20/23 2469092
102-202 11TH AVENUE Sold North Castlegar $199,000 2 1 24 Mar 10/23 2469093
215 5TH AVE Sold North Castlegar $470,000 5 2 18 Mar 7/23 2469103
819 8TH AVENUE Sold North Castlegar $429,000 3 2 21 Mar 8/23 2469161
304 CENTRE AVENUE Sold South Castlegar $445,900 3 2 15 Mar 9/23 2469187
705 30TH STREET Sold South Castlegar $320,000 2 1 0 Mar 6/23 2469375
561 7TH AVENUE Sold North Castlegar $412,000 3 1 14 Mar 31/23 2469555
203-620 SECOND STREET Sold Nelson $300,000 1 1 251 Mar 20/23 2466301
32-1554 GRANITE ROAD Sold Nelson $90,000 3 1 82 Apr 1/23 2468653
706 STANLEY STREET Sold Nelson $660,000 3 2 54 Mar 27/23 2468956
1324 HALL STREET Sold Nelson $700,000 4 2 22 Mar 2/23 2469025
1002 LATIMER STREET Sold Nelson $635,000 3 2 43 Mar 31/23 2469109
404 HOOVER STREET Sold Nelson $880,000 2 2 27 Mar 15/23 2469128
719 MUNRO STREET Sold Nelson $1,100,000 5 5 1 Mar 4/23 2469331
617 DAVIES AVENUE Sold Village of Salmo $349,900 2 1 11 Mar 17/23 2469369
10-912 SLOCAN STREET Sold Village of Slocan $307,500 2 2 22 Mar 7/23 2469080
240 BRYAN ROAD Sold Kokanee Creek to Balfour $527,000 3 2 137 Mar 17/23 2468052
6877 FERN ROAD Sold Passmore/Winlaw/Slocan $458,000 3 2 121 Mar 22/23 2468302
290 JOHNSTONE ROAD Sold North Nelson to Kokanee Creek $1,135,000 3 2 64 Mar 15/23 2468694
220 WHITELINE ROAD Sold Nelson South/Salmo Rural $480,000 3 2 46 Mar 17/23 2468910
3529 SOUTH SLOCAN VILLAGE ROAD Sold Nelson West/South Slocan $465,000 3 1 55 Mar 29/23 2468952
6308 YOUNGS ROAD Sold Passmore/Winlaw/Slocan $459,000 2 1 27 Mar 30/23 2469305
3845 LITTLE SLOCAN SOUTH ROAD Sold Passmore/Winlaw/Slocan $394,500 3 1 18 Mar 26/23 2469412
2845 DUHAMEL CREEK ROAD Sold North Nelson to Kokanee Creek $450,000 3 3 15 Mar 23/23 2469428
2378 PILJEK ROAD Sold Pass Creek Valley $465,000 3 3 235 Mar 10/23 2466421
175 SUNCREST ROAD Sold Pass Creek Valley $670,000 2 2 170 Mar 16/23 2467675
1843 HIGHWAY 3A Sold Thrums/Tarrys/Glade $850,000 3 4 100 Mar 15/23 2468445
1991 GLADE ROAD Sold Thrums/Tarrys/Glade $660,000 4 1 25 Mar 10/23 2469067
101-5570 BROADWATER ROAD Sold Robson/Raspberry/Brilliant $374,900 2 2 16 Mar 3/23 2469095
1033 DOUKHOBOUR ROAD Sold Thrums/Tarrys/Glade $650,000 4 3 25 Mar 31/23 2469381


We all know people who have attended a webinar or meeting and wanted to raise their hand to ask a question — but didn’t. Why didn’t they? It was probably because they worried their question would sound silly, or they were embarrassed.

But as many teachers have told their students over the years, “There is no such thing as a dumb question.”

How true.

In fact, when you think about it, asking a question is about the smartest thing you can do. Asking questions helps you get the information you need to make better decisions.

For example, say you want to know the best season to sell your property. If you don’t ask — because you assume you should know — you may never get a clear answer. At least, not without a lot of time-consuming Google-ing.

So, when you have a real estate-related question, who should you ask?


Feel free to call or email whenever you have questions about current selling prices, mortgages, market conditions, moving – or anything real estate-related. When you call me, any question you ask will be smart!