A buyers’ market for Columbia Valley real estate

In southeastern B.C.’s resort communities, there are great bargains to be had in the real estate market

Glenn Pomeroy is a Realtor with MaxWell Realty in Invermere, B.C. — Photo courtesy Glenn Pomeroy

For prospective buyers of real estate in B.C.’s Columbia Valley, there’s a great selection of properties to choose from, particularly if you’re looking for a building lot or condominium. Those markets were the hardest hit in the economic recession of 2008 and after, and that means that this is a very, very good time to buy—pricing is competitive and there are some great bargains out there.

“There are something like 300 residential lots available between Invermere and Fairmont (Hot Springs),” said Glenn Pomeroy of MaxWell Realty in Invermere. “Based on average sales in the last three or four years—though admittedly these are quite a lot lower than normal—we could have anywhere from a five(-year) to a 15-year supply. That can change, of course, and we anticipate that it will, so anyone interested in that type of property can strike a pretty good deal these days.”

Pomeroy said that the economic decline appears to be at an end and real estate markets are starting to improve. Sales of single-family lots are increasing as a result of the termination of the HST, and there is some building going on. Pomeroy pointed out that on the east side of Lake Windermere, where the recreation properties are, the market is becoming very active.

“What we’re seeing is that anything with good lake access or lake frontage is generally moving well,” he said. “Private resorts with marinas and boat launches are moving property particularly well at this point, as long as they’re priced right.“