Slocan property values continue to soar according to the latest annual report from BC Assessment.
Single-family residential properties in Slocan were typically valued at $428,000 as of July 1, 2023, up 12 per cent over the previous year and the highest increase of any West Kootenay community. Over a three-year period, Slocan home values have rose 92 per cent.
The highest average property values in the West Kootenay remain located in Nelson at $670,000, which dropped one per cent in value, followed by Rossland where values climbed seven per cent to $618,000.
There was relatively little change however across the region. Castlegar homes were valued at $490,000, followed by Kaslo ($485,000), Montrose ($446,000), Fruitvale ($445,000), Creston ($419,000), Grand Forks ($409,000), Silverton ($405,000), Warfield ($402,000), New Denver ($387,000), Salmo ($373,000), Trail ($352,000), Midway ($330,000) and Greenwood ($245,000).
BC Assessment said home owners will receive individual assessments in early January. Assessed values don’t reflect what a property might sell for now, nor do they necessarily relate to any property tax increases.
Nelson’s strata market meanwhile appears to have slightly cooled. BC Assessment found the average value of condos and townhouses in the city fell six per cent to $526,000 one year after a nine-per-cent increase.
The most expensive communities for single-family homes in the Kootenay Columbia remain Fernie ($848,000) and Revelstoke ($839,000). The municipality with the biggest rise in value was Canal Flats, where properties went up 13 per cent to $322,000.
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