Real Estate

Commercial/Industrial Land

(The following is a list of current vacant properties in Radium, which may or may not be actively listed for sale. Inquiries should be addressed to the property owners).

Land Availability

  • 2.7 acres developable commercial land
    • 5 Main St. properties (7537, 7567, 7575, 7504)
    • 1 Hwy 93 property
    • 1 Stanley St. property
    • 1 Radium Blvd. property

Please contact the Village of Radium Hot Springs for further information.

Pricing

  • Serviced Commercial Land - roughly $40K/acre1
  • Lease (commercial) approx. $8-10/sq. ft. triple net2 (one third Calgary rate3)

1Depends on location. Based on a recent sale in the area.
2Based on lease rates in Invermere
3Colliers Canada (www.collierscanada.com)

Housing Prices: Buy A Home in Radium…Put $150,000 (Calgary) to $600,000 (Vancouver) In your Pocket.

Housing affordability is a key feature of being able to attract and retain labour force supply, independent entrepreneurs, and retirees.  

House prices are a fraction of average B.C. and Calgary housing prices while after tax economic family income in the East Kootenay Regional District (Statistics Canada, 2011 Federal Census) is only 5% lower than the B.C./Canada average and Calgary after tax family income (a source of roughly 70% of recreational property purchases) is 30% higher than the BC/Canada average.


Average Residential Home Resale Price

(YTD as at Sept. 2014, includes single and multi-family residences)

  • Radium - $226,000
    • Radium Single Family Detached Dwelling - $428,000
  • Kootenay Region - $290,000
  • B.C. - $580,000
  • Metro Vancouver - $820,000
    • Single Family Detached Dwelling - $984,000
  • Calgary metro - $483,000
    • Single Family Detached Dwelling - $552,000

Src: Royal LePage Rockies West Realty (Radium figure) (http://www.rockieswest.com/Statistics/page_2293964.html), Kootenay Real Estate Board (http://www.creastats.crea.ca/koot/),  B.C. Real Estate Association (http://www.bcrea.bc.ca/news-and-publications/economics/markets-at-a-glance), Calgary Real Estate Board (http://www.creb.com/public/seller-resources/housing-statistics.php)


Based on house resale prices in 2014, housing prices in Radium are:

  • 61% lower than the B.C. average
  • 72% lower than the metro Vancouver average
  • 53% lower than metro Calgary average


Average Housing Sale Price

(Invermere, Invermere Rural, Radium, Canal Flats)

Src: Royal LePage Rockies West Realty

Radium’s housing supply is unique in Canada. Roughly 70% of housing units are recreational properties owned by part-time residents, compared to a BC average of 9%. This dynamic generates a significant proportion of housing units in Radium that are multi-family condo units, generating very competitive housing pricing.

Radium’s average house sale price is down 30% from a peak in 2007, generating significant investment opportunity.


Local Real Estate Services

Local real estate companies are a first point of contact in the search for residential, commercial/industrial, land, or new construction opportunities.

 

Additional Resources

Residential real estate listings – www.mls.ca

Radium commercial/industrial listings:

  • clslink.ca – search term “Radium Hot Springs” in Location entry field
  • www.icx.ca – search term “Radium Hot Springs” in Location entry field


B.C. Real Estate Association (real estate statistics…Radium is located in the Kootenay District) - www.bcrea.bc.ca/news-and-publications/economics/markets-at-a-glance