Kootenay Region: BC's New Real Estate Hotbed - Incredible Value for Dollar!

Value for dollar, proximity to world-class amenities and laid-back lifestyle attract buyers to region both recreationally and full-time.

If 2007 sales figures are any indication, the word is definitely out on one of the fastest growing real estate markets in British Columbia. In 2007, the Kootenay region posted the largest sales gain in the entire province, up 37% over 2006, ahead of Thompson Okanagan and Vancouver Island.

This doesn’t come as any surprise to long-time resident and Cranbrook developer Joel Savage, who’s company is creating a 900-acre residential resort community, Wildstone.  “What’s really turned the sales thermometer up in this region is the realization of how much further the dollar will go here,” he said.  “Although the area has experienced a huge surge in sales activity this past year, product for the time being has remained incredibly competitive compared with other resort areas which is a fantastic advantage,” he said.

As a result of the combined lifestyle and value appeal of the area, Savage and his team have noticed an increase in people contemplating the trade of big city life for the simplicity of either seasonal or full-time residency in Cranbrook.  “We’re seeing more and more people interested in the area as a place to semi-retire or even move full-time so we really have to pay attention to these trends and make sure the product we are offering meets the needs of multiple niche markets,” he said.

Although the masterplanned community will offer a variety of residences from single-familly homes to golf villas and condos, the company’s newest release, Penley Greens, has been designed to appeal to this exact market.  The neighbourhood will consist of 152 townhomes: 88 stacked townhomes in fourplexes ranging from 1,200 to 1,900 sq. ft. in one- to three-bedroom configurations; 54 side-by-side split level units in threeplexes with 1,921 sq. ft. of space in two- or three-bedroom configurations; and 10 split level single townhomes.  All units are full ownership, fully maintained, and offer a great price point starting in the high $300,000s and are in high demand.  Penley Greens will be released on June 15, 2008.