In Creston, the local real estate market is holding steady — at least in the more affordable price range.
“We've seen a really strong January and February, which was unusual, but mostly for the lower-priced homes,” said local realtor Diana Klejne, noting homes priced under $500,000 have been moving quickly with multiple offers.
According to the April report from the Association of Interior Realtors, the benchmark price for a single-family home in the Kootenays is now $539,300, up 12.9 per cent year-over-year.
In the first quarter of the year, new residential listings continued to see modest increases. However, overall residential sales are down slightly from 2024, by 1.5 per cent.
Some buyers who had been hesitant in 2024, due to rising interest rates, are now stepping into the market. But this surge isn’t being seen across the board.
“Now that spring is here, we're seeing a lot more listings,” said Klejne. “We're seeing a fair bit of activity but not on everything. The luxury market is at a standstill right now.”
She noted many high-end buyers are holding off, while first-time buyers and families with stable incomes are actively looking — even while supply remains tight on affordable housing.
“People are looking but they're very careful to make a decision with the stock market in the states,” said Klejne. “With larger purchases that are more expensive, people are really wary.”
Tariffs, building costs, and market ripple effects
Another looming issue is the potential impact of tariffs on steel and aluminum — materials essential to new home construction.
While Klejne emphasized it’s still too early to see those effects locally, higher construction costs could drive up the price of new builds and put more pressure on the resale and rental markets.
“It’s just like during COVID – I had somebody ask me what it would cost to build a home per square footage. There's no builder that's going to be able to predict that. They just can't because it's so unpredictable right now,” she said.
Creston still a strong investment
Despite today’s current landscape, with the recent federal election causing more upheaval, Klejne remains optimistic about the local market.
“I think Creston is still an incredible investment,” she said. “It’s affordable, safe, family-friendly, and community-driven. It's still attracting more young families which will only make the town better.”
On her blog, Klejne shared Creston is a great choice for:
- Retirees looking for affordability, seniors’ activities, and proximity to nature
- Families seeking great schools and a supportive community
- Homesteaders and gardeners who can benefit from the long growing season
- Outdoor lovers and remote workers craving space, beauty, and balance
Advice for buyers and sellers
For those looking to enter the market in times of economic uncertainty, Klejne recommends keeping a close eye on interest rates and staying within a manageable budget.
“Don’t be house poor,” she said, which means most finances go towards paying off a mortgage, leaving little expendable income for emergencies or other expenses.
“For buyers, if they have stable jobs, if they're able to work from home, or if they feel confident in their financial situation, they will jump in and buy. But for bigger investments, they'll have to put more money down. I find that a lot of buyers are looking for homes that are a bit of a stepping stone, something more affordable. They're being more cautious where they put their money, and I think that's wise.”
And for sellers, she suggests pricing homes accordingly with the market.
“Be competitive, and see what else is active and what the competition looks like,” Klejne advised.
Updates – like a new furnace or a new roof – can also be encouraging to buyers as they feel like they don't have to put forth those expenses right away.
Staging goes a long way too, she added. Make sure the house is clean, smells good, and looks homey as soon as potential buyers walk in.
For more help with local real estate, contact Diana Klejne with Stonehaus Realty at dianaklejne@gmail.com or visit www.KootenayLifestyle.ca.
