For a resort community, Kimberley boasts incredibly competitive home and real estate pricing.
Housing prices in Kimberley increased rapidly through the 2000's, rising by an average of 17% per year from 2001 to 2008 before declining by 8% in 2009. A similar pattern occurred throughout the Kootenay region, driven by the region's attractiveness for recreation, retirement and investment real estate, as well as the same factors that caused rapid housing price increases throughout North America (including a strong economy and low interest rates).
Things have changed significantly since the closure of the Sullivan Mine, the city's major employer, in December 2001. At that time a detached house could be purchased in Kimberley for well under $100,000. Today, the community's three championship golf courses and the great Nordic and Alpine skiing all within the city limits have allowed Kimberley to fight off recession and attract fresh investment into the community.
Kimberley's house prices remain more affordable than the regional average, despite the strong growth in recent years. With the recent downturn in prices after 2008, this four-season mountain playground is still an affordable investment that is likely to grow in value as the City continues to develop and evolve.