Category: Kamloops Real Estate Statistics

BC Real Estate Association (BCREA) Chief Economist Brendon Ogmundson discusses the September 2020 statistics. In this housing market update it was a record setting September for BC housing, rising 63% year over year. Sales were up 16% for August and inventory remains low. The market in BC overall remains in the Sellers market territory. The Provincial average home price reached a record of $803,210.

Kamloops saw an increase in the number of unit sales year over year which was up 38.3% from the same time last year. We also saw price growth, bringing the average price of a home to $493,597 which is a 30% increase. Again this month the number of active listing remained low and below the average with 1,040 homes for sale, -17.6% less than this time last year. This leaves the Kamloops market with 3.1 months of supply.

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Vancouver, BC – October 14, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 11,368 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September 2020, an increase of 63.3 per cent from September 2019. The average MLS® residential price in BC set a monthly record of $803,210, a 15.3 per cent increase from $696,647 recorded the previous year. Total sales dollar volume in August was $9.1 billion, an 88.3 per cent increase over 2019.

“The provincial housing market had a record-setting September,” said BCREA Chief Economist Brendon Ogmundson. “Both total sales and average prices were the highest ever for the month of September as pent-up demand from the spring pushes into the fall.”

“Average prices are skewing higher as demand for space during the pandemic drives sales of single-detached homes,” added Ogmundson. Total provincial active listings are still down about 12 per cent year-over-year, with some markets even more under-supplied as the pandemic continues to keep listings low.

Year-to-date, BC residential sales dollar volume was up 25.1 per cent to $49.7 billion, compared with the same period in 2019. Residential unit sales were up 12.5 per cent to 65,023 units, while the average MLS® residential price was up 11.2 per cent to $764,298.

Click here to visit to BCREA’s website. To view other statistics for the Kamloops and BC real estate market click here.

If you want to be kept informed on Kamloops Real Estate, News and more visit our Facebook Page.

To search for Kamloops real estate and homes for sale click here.