Real Estate Market Outlook for Revelstoke in 2022



If you are an adventurer, then Revelstoke is the city just for you a city situated in British Columbia. It has long been a destination for explorers, mountaineers, and hikers. There are many recreational parks and sites in the area that offer mountain recreation opportunities including Glacier National Park, and Mount Revelstoke National Park. The city is historically referred as the “Capital of the Canadian Alps”. In 2016, the census population of the city was 6,719. The number of residents that were reported in 208 was 14,570. With the change in the seasons, the population of the city is also changing. Ski jumping and skiing were brought to the city by the Norwegian immigrants. No later than 1910, many ski jumping hills had been built around the town. The oldest ski club in British Columbia is Revelstoke Ski Club.


According to BCREA, from July 2021 to 2022 the course of home sales will be highly dependent on the evolution of Canadian mortgage rates. It is expected that toward the second half of this year home sales will likely slow. the provincial unit sales are still estimated to reach a record even factoring in a second-half slowdown.


During the initial phase of the COVID-19 pandemic, the supply shock experienced by BC markets and a sustained listings drought continue to drive price increases in 2021. This is mostly for the markets that are smaller.


The average price of a detached house in Revelstoke is $1,111,000. The average price of a townhouse is $866,000. The price of the most expensive townhouse is $1,350,000 and the price of the most affordable of them is $399,000. The average price of a condominium in Revelstoke is $859,000. The most expensive condo has the price of $1,400,000 and the most affordable of them is $399,000 according to the current statistics of Revelstoke MLS©. Most people in Revelstoke have their own homes and their percentage is 75% while the remaining 25% of people rent their houses. The monthly average price of rent is $539,000 while the monthly average price of a mortgage is $4100.


The number of houses for sale in Revelstoke is 54 right now, in which there are 31 detached houses, 3 condos, and 3 townhomes.


According to a new forecast given by credit union group central 1, the sales of real estate will grow by thirty-seven percent in 20211 while a drop will occur by twenty-one percent in 2022. But the prices will continue to increase. This increase in price will be ten percent this year and the average price will be $643,000. There will be an increase of 4.2 percent in average prices making it $670,000 in 2022, and an increase of three percent in 2023 making the average price $690,000 despite there is a sharp and peak decline is expected in sales activity. The demand in housing starts driven by ten percent this year but will become level off in 2022. This is because of slowed-down immigration in Canada.



Revelstoke Homes For sale

Revelstoke Townhouses For sale

Revelstoke Condos For sale

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