When we take a look at where owners of condos at the Fernie Alpine Resort reside, we find that the majority of purchasers here are not from the Lower Mainland or the Western United States, but from Calgary, Edmonton, Southern Ontario and England.

Like Fernie, Kimberley has experienced a boom in resort development, with the expansion of the ski resort and development of several new golf courses in the area. BC Assessment shows that the assessment rolls for the area increased from $387 million in 2004 to $439 million in 2005, an increase of about 13%. According to MyLandcor, sales of condos over the past five years in this area have risen 108%.This is one of only two reviewed areas to show an increase in the number of sales. However, sale prices have fallen slightly, about 4% since 2001. We note, however, that prices in 2005 actually rose over 18% from the previous year.  

Panorama Mountain Village

Intrawest’s Panorama Mountain Village near Invermere offers a year round recreational retreat with numerous ski runs, golf courses, and other recreational opportunities in and around the village. Since 1993, subdivision and condo units have been built to support the demand in these areas.  The BC Assessment rolls for this area increased by about 15%, from $1.92 billion in 2004 to $2.22 billion in 2005. While MyLandcor shows that the average assessment for the area has risen over 70% in the past five years, both the number of sales and average prices for condos in the area has dropped, by 18% and 27% respectively.

Golden’s Kicking Horse Mountain Resort is a newcomer to the ski resort market and it is gaining momentum. Located just across the B.C. - Alberta border from Banff National Park, this resort is well positioned to gather clients from the Kootenays, Alberta, and beyond.  Since its opening in 1996, developments have sprung up to support the growing customer base for this resort, but the prices in this area have remained fairly consistent.  The rural assessment rolls from BC Assessment show an increase of around 19%, from $518 million in 2004 to $618 million in 2005. MyLandcor shows that over the past years, the number of sales in this area has increased by about 800%, but the price has remained steady, showing only a 1% decrease from 2001.

Red Mountain Resort

Finally, we stretched our original stated boundaries of the Eastern Kootenays to include Rossland, and the Red Mountain Resort. Located near the Canada-U.S. border near Trail, this ski hill was sold in 2004 to an American investment group. In the oncoming years, they plan on expanding the condominium units and commercial space, and improving the historic ski runs. The BC Assessment rolls of the rural areas of Rossland & nearby Trail, which includes property at Red Mountain, showed an increase of about 5%. If we compare this increase to those of the other ski resorts reviewed, this may seem low. However, condos at Red Mountain were the only properties we reviewed where both the number of sales and the sales price increased. The number of sales increased over 300% in the past 5 years, with a 75% sales increase during the same time period.

Owners for these new resort developments tend to stay a little closer to home, with owners located mainly in the key spots of the Lower Mainland, Edmonton, and Calgary. We do see several owners residing in the north-west United States, as well as a few from England and Australia.

The Eastern Kootenay skiing properties have attracted international investment. Skiing, golfing, hiking, and other outdoor enthusiasts are flocking to this area from all over the world. Don’t miss your chance to get in on some of the newest and best ski hill developments in south-east British Columbia. As we always say, “Don’t wait to buy land, buy land and then wait!”