Over half of the CDKI population is presently within the working ages of 20 to 64.
Cranbrook offers homebuyers a welcome relief in affordability
If soaring house prices have got you down, then maybe it’s time to check out Cranbrook’s real estate market
Expensive real estate is a common theme that continues to affect British Columbians. As prices soar in many of the province’s large cities, one must wonder if the dream of owning your own home is gone.
Not according to Cranbrook realtor Jason Wheeldon.
“Cranbrook is a very affordable market when compared to other cities within the province that offer similar services and amenities,” said Wheeldon.
In Cranbrook, a single-family dwelling goes for the average $313,978.
“In April 2018, the average MLS residential price in B.C. was $730,507, up 0.2 per cent from the previous year,” reported the British Columbia Real Estate Association.
Cranbrook serves an immediate population of 20,047 but it also acts as a service centre for southeastern B.C. The city is home to a regional hospital, an international airport and an award-winning college. There are also numerous entertainment venues and sports complexes (click here to learn more about area amenities). The economy remains stable and new economic opportunities are opening, thanks to progressive community leaders and council.
Cranbrook’s enviable lifestyle
Raw data might lead you here, but what truly sets Cranbrook apart is the city’s ease of access to ample outdoor recreation. Extensive hiking and mountain biking trails surround the city and can be accessed from within its limits. There are eight golf courses and a ski resort within a 25-kilometre radius.
“Our key component is that we have a lifestyle like no other,” said Wheeldon.
And it hasn’t gone unnoticed.
“We’ve definitely seen an increase of buyers relocating from the Lower Mainland markets,” he said.
In 2017, seven per cent of Cranbrook buyers originated from the Lower Mainland and nine per cent came from Alberta. Thirteen per cent of sales originated from the surrounding area as retirees migrate to Cranbrook for the health services.
In addition to early retirees, Wheeldon noted an exciting trend toward younger generations moving back to the area because of job opportunities.