Category: Kamloops Real Estate Statistics

The BC Real Estate Association has released it’s latest housing market update for June of 2023 which discusses May 2023’s statistics. Home sales were strong across BC For May with a number of regions surging 20% month over month. This puts the sales back on pace with the historical averages. We saw a year of activity that was below average. Home sales increased about 10% from last year. The province saw a slight increase nithe number of active listings, up 1.4% compared to this time last year. This is not seen as much of a change. The higher volume of sales left the inventory of listings at approximately 25% below pre-pandemic levels. The average price ofr a BC home was above the $1 million price point for the first time since April of 2022. Some of the increase is due to the increased demand for more pricier homes.

Kamloops for the month of May saw 294 sales which was a 3.5% year over year change. The average price sat at $601,152 which is down 6.4%. This likely is due to fewer high end homes selling as they seem to be sitting on the market much longer. There were 979 active listings in Kamloops which is a 15.3% year over year change. This equates to 3.3 months worth of supply which is fairly low. Due to this a number of properties have experienced multiple offers when they are sharply priced.

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.

“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.

BCREA (British Columbia Real Estate Association) released it’s latest report on Canadian Mortgage Rates and the forecast for the year to come.

To view the June 2023 Mortgage Rate Forecast PDF, click here.

Highlights:

• Stubborn inflation has rates rising again
• How much longer can the economy shake off the impact of high interest rates?
• The Bank of Canada is back on the move

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.

“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.

Vancouver, BC – June 14, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 9,191 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in May 2023, an increase of 9.9 per cent from May 2022. The average MLS® residential price in BC was $1.02 million up 3 per cent compared to May 2022. The total sales dollar volume was $9.4 billion, representing a 13.2 per cent increase from the same time last year.

“Home sales in May were surprisingly strong,” said BCREA Chief Economist Brendon Ogmundson. “Normally we’d expect to see a more persistent, negative impact from the last year of rising interest rates on sales. Instead sales staged an early recovery in the spring returning to a normal pace of sales well ahead of schedule.”

The average home price in BC has now recovered much of the decline over the past year and is now back over $1 million for the first time since April 2022.

Year-to-date, BC residential sales dollar volume was down 33.9 per cent to $30.8 billion, compared with the same period in 2022. Residential unit sales were down 28.1 per cent to 31,631 units, while the average MLS® residential price was down 8.2 per cent to $973,085.

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.

“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.