A LOOK AT 2023’S FIRST QUARTER REAL ESTATE SALES

January to March 2023 saw a total of 29 real estate transactions in Revelstoke

It’s been said that April showers bring May flowers. In Revelstoke, April showers bring May showers and then mosquitos. As we go into the first months of spring, all the sale information for the first quarter of the year is finally recorded and we can now take a comprehensive look at how Revelstoke's 2023 real estate market has shaped up so far.

January to March 31, 2023 saw a total of 29 real estate transactions. This includes single family homes, strata properties, manufactured homes and vacant land. In the single-family home category, there were 14 transactions with sale prices ranging from $485,000 to $1,610,000 or an average sale price of $876,029, and an average sale time of 91 days. Eight of the sales were strata properties, two were manufactured home sales and five were sales of vacant land. In total there was $20,817,399 in real estate sales.

To compare, 2022’s first quarter totaled 36 transactions, with 19 single family home sales ranging from $395,000 to $1,200,000, and an average sale price of $886,163. The average sale timeline was 66 days. Eight strata properties, two manufactured homes sales and seven in the vacant land category, totaling $28,764,099.

The breakdown – overall real estate sales are down just shy of 20 per cent from 2022 to 2023. The timeline to sell a single-family home increased by approximately 30 days or 23 per cent. The average sale price of a single-family home was down only 1.5 per cent.

The average list price of a single-family home is up from $900,364 in 2022 to $1,129,786 at the end of March 2023. List volume has increased with 38 single family homes listed for sale at the end of the first quarter of 2023 and only 24 at the end of the first quarter in 2022.

The BC Real Estate Association (BCREA) released an article April 13, 2023 stating, “The BC housing market is currently characterized by slow sales but also still very low levels of listings” **. Locally we are seeing a slower sale timeline but an increase in listings. Homeowners’ reluctance to sell for a decreased price could be a challenge with the timeline. The key to selling a property in the next quarter and into the spring will likely come down to pricing correctly.

Generally spring is when we see a resurgence so the end of the second quarter results will be very telling if our local market is starting to reflect that of the rest of BC.

If you made it through this article (I get it, it was a lot) and are interested in more detailed information or want a market evaluation specific to your home or property, please reach out. I am always interested in meeting with the members of our amazing community to talk everything real estate and in particular your individual experiences and thoughts!

*Tara Sutherland, Associate Broker – RE/MAX Revelstoke Realty – 250-8148677 or tara@revelstoke-realty.com

** BCREA article https://www.bcrea.bc.ca/economics/bc-markets-showingsigns-of-recovery-as-supply-remains-scarce/

** Information taken from the MLS for Revelstoke specifically on March 31, 2023 and April 18, 2023.

Revelstoke Mountaineer Magazine is a free monthly publication featuring the best of Revelstoke outdoor life, food, style, visitor experiences, lifestyles, entertainment, home style and healthy living.

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CONTRIBUTING WRITERS

Jill Macdonald, Alex Cooper

CONTRIBUTING PHOTOGRAPHERS & ILLUSTRATORS

Marlene Krug, Alex Cooper, Taylor Sandell

COVER AND INSET PHOTOS: Revelstoke multimedia artist Taylor Sandell's multi story projection exhibit, Confluence, was a feature in LUNA fest 2022. The work reflected on the challenges of recent years due to the pandemic, Ukraine invasion, mass grave discoveries, and environmental degradation and the resulting societal division based on various factors like vaccinations, immigration laws, religion, and economy. In a statement on the work, Sandell said this division was evident in Revelstoke's diverse community, which is undergoing demographic change. The Confluence project highlighted the community's diversity, celebrating its varied groups that have shaped Revelstoke and their joining through a visual journey along the river. For more on Taylor Sandell, see our mini feature on page 20. Photos by Aaron Orlando/Revelstoke Mountaineer Magazine

Shoulder season

As the days grow longer and the temperatures slowly begin to rise, we welcome the change of seasons from winter to spring. The arrival blooming flowers, greener landscapes, and chirping birds are a clear indication of a new season ahead.

In this issue of our magazine, we explore the different facets of this exciting time of year. Our focus is mixed, as we aim to bring you a range of stories that will pique your interests and broaden your horizons. From mountain bike trail building to the toxic drug death issue, we have a range of topics that will keep you engaged.

Our feature on mountain bike trail building explores what it takes to create new trails for enthusiasts. You'll get a glimpse into the challenges they face.

We also delve into the critical issue of toxic drug deaths, which now total 13 in Revelstoke since 2020. Our report highlights the dangers of these deadly substances and the efforts being made to combat this pressing problem.

In addition, we bring you an inspiring story about a new cricket team that is breaking barriers and making waves in their community. You'll learn about the challenges they have faced and the strides they have made in their journey towards success.

As you flip through the pages of this issue, we hope that you will be captivated by the diverse stories we have to share.

–Revelstoke Mountaineer staff

Revelstoke resident Lisa Moore shares her the Indigenous

Revelstoke

12

TOXIC DRUG SUPPLY DEATHS CONTINUE IN REVELSTOKE

Thirteen people have died from toxic drug supply in Revelstoke since 2020. We checked in with Erin MacLachlan from Community Connections about ongoing efforts to reduce harm and deaths in Revelstoke.

14

TRAIL PLANNING

A look at what it takes to get a mountain bike trail completed in 2023.

18

ARTS & OUTDOORS BRIEFS

We review and preview arts and outdoors events in Revesltoke in our brief roundup.

20

MINI PROFILE: TAYLOR SANDELL

We profile Revelstoke multimedia artist Taylor Sandell, who works in a variety of media, including digital animation, traditional arts, online work and participation in the local arts scene.

22

CRICKET REVIVAL

Waves of new migrants to Revelstoke from around the globe has led to the revival of a cricket club in Revelstoke. We checked in with some of the team members to find out about the emerging scene and their plans.

May Events

MONDAY, MAY 1

DISNEY IN SONG, REVELSTOKE COMMUNITY & KIDS CHOIRS

Revelstoke Performing Arts Centre, 1007 Vernon Ave, 6:30 p.m.

The Revelstoke Community Choir and Revelstoke Kids Choir present Disney in Song with special guest Holly Bhattacharya. Tickets $15 adults, $5 youth, children four and under free. Tickets for purchase at artsrevelstoke. com.

TUESDAY, MAY 2

DROP-IN ART NIGHT

Revelstoke Visual Art Centre, 320 Wilson Street, 7–9p.m.

The Revelstoke Visual Arts Centre is opening the kitchen studio for people to come in, hang out, and get creative. This drop-in event is open to absolutely everyone. If you want to get out of the house and just paint, draw, sew, care of create then this drop-in session is for you. Basic tools are provided, but guests need to bring their own materials. Open to youth, adults, and seniors of all abilities.