CPABC: Kootenay home prices, sales rise during the first half of 2025
CRANBROOK, British Columbia, Aug. 11, 2025 (GLOBE NEWSWIRE) -- According to BC Check-Up: Live, an annual report by the Chartered Professional Accountants of British Columbia (CPABC) on demographic and affordability trends across the province, the Kootenays added 2,542 new residents in 2024, bringing the total population to 176,617.
“Population growth was spread out across the region, rather than concentrated in largest cities in 2024,” said Mike Calder, CPA, CA, partner at MNP Canada. “Although growth was within the normal range for the region, there was a shift in migration patterns.”
The Kootenay region gained 1,792 residents (net) from other countries, down 10.7 per cent from the record high reached in 2023 but still well above the 10-year average. The region also experienced a net inflow of 1,276 residents from other parts of B.C. and 222 residents from other provinces. The net gain from interprovincial migration was the lowest level recorded in 11 years.
Nearly three-quarters (74.1 per cent) of the region’s population growth occurred outside the Kootenay region’s largest municipalities. The combined population of Cranbrook, Nelson, and Trail increased by 658 people, accounting for 25.9 per cent of total population growth in 2024.
“Over the last three years, there has been an increase in the number of people relocating to the region from other parts of B.C.,” noted Calder. “Part of the draw is relatively affordable housing, although that advantage has been eroded over the last few years.”
The average price of a home sold in the Kootenays was $617,229 in June 2025, up 13.1 per cent compared to June 2024 and 65.2 per cent since June 2020. By comparison, the average sale price across the province was 27.5 per cent higher than it was five years earlier.
Through the first half of 2025, the Kootenay housing market has remained resilient despite economic uncertainty. Year-to-date sales were up 9.2 per cent compared to the first six months of 2024.
In the rental market, the average monthly rent for a two-bedroom apartment in Cranbrook was $1,336 in 2024, up 4.9 per cent year-over-year. In Nelson, the average monthly rent was $1,278 for a two-bedroom unit, up 1.8 per cent compared to 2023.
“With borrowing costs coming down, the Kootenay housing market appears to be in the midst of a bounce-back year,” concluded Calder. “The biggest risk to that outlook, and the local economy more generally, is the shifting international trade landscape. We need a collaborative approach between government and industry to support workers and businesses through these challenges.”
To learn more, see www.bccheckup.com.
About CPA British Columbia
The Chartered Professional Accountants of British Columbia (CPABC) is the training, governing, and regulatory body for over 40,000 CPA members and 6,000 CPA candidates and students. CPABC carries out its primary mission to protect the public by enforcing the highest professional and ethical standards and contributing to the advancement of public policy.
CPABC Media Contact: Jack Blackwell, Economist 604.259.1143 news@bccpa.ca
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