May 2026 Update
We’ve seen a steady increase in sales from 14 in January to 32 in May in the Powell River residential real estate market this year. In spite of the gloom you hear on national news, that puts us in the pretty normal range for this time of year. We’re down from 37 a year ago but that’s certainly not alarming. In spite of all the ‘noise’ around us, people are still buying and selling. In fact, for well-priced, well-kept homes we’re seeing a number of competing offer situations. Looking at the year to date, we’ve seen 28 out of 124 sales at full list price or above. Buyers are out there, looking hard and prepared to pay what it takes to get the right home. Inventory is still good with 62 new listings in May, down from 81 a year ago and 65 last month. Total inventory is at 183, well down from 239 last year and down from last month’s 208. It’s still well above averages for the longer term. This reduction and improvement in sales has moved us from a Buyer’s to a Balanced market for May. Prices have been trending lower over the year with a roughly 8% drop since last May by my calculations. My six month rolling average for this May was $641,909 for a single family home. It’s the selling season so I expect we’ll see lots of good opportunities in the months ahead and a reasonably strong number of sales.