Although real estate prices in Creston have increased over the past few years, the cost of buying a home remains cheaper than other communities in the area.
According to Canadian Real Estate, in August 2016, the median price of a house in Creston was $309,000, and the median price of an apartment was $142,000.
According to OJO Home, the median list real estate price today in Creston is $419,000.
There are currently 98 active listings in Creston, according to the same site.
This means that the average price of a housing listing in Creston has increased by $110,000 since 2016.
Despite the increase in prices, Creston’s housing market continues to be cheaper than other cities in the region.
Realtors Shannon and Scott Veitch said Creston offers a lifestyle that appeals to buyers from larger cities.
“In comparison to other areas in the Kootenays, Creston is still holding well,” said Shannon. “We have a different climate, we have a different lifestyle, and we find that people move here for that reason. They like the ability to live in a small town.”
Compared to other communities in the Kootenays, Creston’s housing market is notably cheaper.
The current median list price in Salmo is $494,500, $659,000 in Nelson, and $555,000 in Cranbrook, according to OJO Home.
Shannon explained that the pandemic has allowed people to work remotely, which opens up more real estate options, and makes small communities like Creston more appealing.
“People have always wanted to move to Creston, they just didn’t have the ability, because there wasn’t always a lot of work here for them. But now people with office jobs in particular, have discovered that they can work from home, and then they can move where they want, rather than where they have to for their job,”she said.
Creston’s housing prices seem even lower when compared to provincial and national averages.
In June 2023, the average home price in British Columbia was $991,648, and the national average was $709,218, according to a Canadian Housing Market Report from WOWA.com.
“What we’re seeing lately is more buyers from Vancouver, from the lower mainland, from the Okanagan, because to them, Creston represents good values,” said Shannon.
As a small, rural community that offers cheaper housing options than other nearby towns, Creston appeals to buyers.
“We’re sought after. The climates have changed, we’re becoming very favoured. And again, it’s a lifestyle. It’s always been a farming area, but we’ve become more noticeable, because what’s happening is people can sell their product. They can sell it online, they can go to the farmer’s market in Cranbrook. So there’s that survivability,” said Scott.
“We’ve always been the retirement community, but now we have all these other amenities that people have discovered in the area, like trails and hiking and recreation, and again, it’s an agricultural area. So we have become a desired area.” said Scott.
“Creston’s done a really good job of re-marketing itself,” Shannon added.
“We need to capitalize on the fact that people are moving here for the lifestyle, and finding a way to rework their jobs so that they can move here,” said Shannon.
The town of Creston is working on an affordable housing initiative. Council adopted a housing action plan in January, and is reviewing specific actions outlined in the plan this summer, with the help of an affordable housing committee.
READ MORE: Town of Creston working to mitigate affordable housing issues with action plan
