The Kamloops District Real Estate Association has released the latest Statistics for November 2021. Click on the image below to enlarge or PDF documents included in the links below.
The Kamloops District Real Estate Association has released the latest Statistics for October 2021. Click on the image below to enlarge or PDF documents included in the links below.
Vancouver, BC – October 28, 2021. The British Columbia Real Estate Association (BCREA) released its 2021 Fourth Quarter Housing Forecast today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 29 per cent to 121,450 units this year, after recording 94,013 sales in 2020. In 2022, MLS® residential sales are forecast to pull back 15 per cent to 102,750 units.
“After a frenzied start to the year, activity in BC housing markets has settled back to a level that is broadly in-line with long-run trends. The strength of the first half of this year has sales on track to easily break the previous record for annual sales,” said BCREA Chief Economist, Brendon Ogmundson. “While we do not anticipate a repeat of the record-setting market of 2021, we do expect housing market activity to remain vigorous in 2022,” added Ogmundson.
Given strong demand and very low active listings, particularly in smaller markets around BC, the average home price in BC is projected to rise 17 per cent in 2021. Prices are forecast to rise about 3 per cent in 2022 as the composition of home sales changes due to normalizing demand for single-family homes and a recovery in active listings helps the market balance out.
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BC Real Estate Association (BCREA) Chief Economist Brendon Ogmundson discusses the September 2021 statistics.
The provincial housing market has calmed in terms of home sales which are more in line with the long running averages for the month of September. Unit sales provincially were down 19.9%. The inventory continues to be low with the interior close to 40% below year over year. Demand is normalizing at this time the low inventory has kept the market in the Seller’s market territory with tight conditions. The average price for BC was up 14% year over year.
For Kamloops there were 305 unit sales in September 2021, that is down 11.6%. The average price for that same time is $550,284 which is a 9.2% year over year increase. At the end of September there were 671 active listings which is a 35.5% decrease year over year. The inventory equates to 2.2 months worth of supply.
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.
