January 2026 Update
Sales in the Powell River residential real estate market have made a tentative start to the year with 14 in January compared with last year’s 24. It’s early days and mortgage broker friends say they’re busy with pre-approvals which should be an indicator that buyers are readying themselves to jump in. Inventory is still quite good with 42 new listings compared with last month’s 30 and overall we’re sitting at 165 listings in total which is ahead of last year’s 151 and above the averages of the last 10 years. There’s still a good selection! My six-month rolling average on prices is showing a general decline since about October - down about 8 percent over the past six months. Buyers will be watching that trend in hopes of picking up a good deal. I think those averages have to do with the price where most people are buying - in the $500 - 600,000 range rather than the homes above that. I was late getting this update out. I’ll try to get the February news out earlier in March!