BCREA Housing Market Update for December 2020
The current BCREA Housing Market update was recently released. BC Real Estate Association Chief Economist Brendon Ogmundson discusses the November 2020 statistics.
Sales reached highs again setting another record for the month of November. Sales up 42.1% over 2019. Listings remain low and new listings are quickly being absorbed. Strong sales continue to push the market solidly into the sellers market zone. This market condition has created an increase of 9.3% year over year with an average MLS Residential price of $816,000.
In Kamloops there were 262 unit sales for the month of November which is a 30.3% year over year change. The average price of a home rose 11.2% to $486,276. There were 1002 active listings in the month of November which is a 0.6% year over year change. This equates to 3.8 months of inventory.
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