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Vancouver, BC – June 13, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 8,214 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May 2022, a decrease of 35.1 per cent from May 2021. The average MLS® residential price in BC was $1 million, a 9.3 per cent increase from $915,392 recorded in May 2021. Total sales dollar volume was $8.2 billion, a 29.1 per cent decline from the same time last year.

“Canadian mortgage rates continue to climb,” said BCREA Chief Economist Brendon Ogmundson. “The average 5-year fixed mortgage rate reached 4.49 per cent in June. That is the highest mortgage rates have been since 2009.”

Provincial active listings were 4.4 per cent higher than this time last year, the first year-over-year increase in active listings since 2019. However, active listings still remain below what is typical for a balanced market, though current market conditions have a high degree of variation across regions and product types.

Year-to-date, BC residential sales dollar volume was down 14.5 per cent to $46.7 billion, compared with the same period in 2021. Residential unit sales were down 26.3 per cent to 43,921 units, while the average MLS® residential price was up 16 per cent to $1.06 million.

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

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Vancouver, BC – May 12, 2021. The British Columbia Real Estate Association (BCREA) reports that a total of 13,683 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2021, an increase of 312.3 per cent over April 2020 when the onset of the COVID-19 pandemic prompted a lockdown of the provincial economy. The average MLS® residential price in BC was $946,606, a 29.1 per cent increase from $733,330 recorded in April 2020. Total sales dollar volume was $12.9 billion, a 432.2 per cent increase from last year.

“Although provincial home sales were down slightly from an all-time high in March, sales activity was the highest on record for April,” said BCREA Chief Economist Brendon Ogmundson. “Home sales continue on a record pace, though we do see a calming environment compared to the frenzied activity of recent months.”

Total active residential listings were down 14.5 per cent year-over-year in April but did tick higher on a seasonally adjusted basis for the second consecutive month as new listings activity ramped up.

“We are starting to see very strong new listings activity in several markets,” said Ogmundson, “however, it will take quite some time for total listings to return to the level needed to balance out markets and temper growth in home prices.”

BCREA has released it’s latest Housing Market Update for November 2020. BC Real Estate Association’s Chief Economist Brendon Ogmundson discusses the October 2020 statistics.

Home sales in BC hit a monthly record and it was the 4th consecutive month with over 10,000 sales in the province. Supply of homes are still trending lower across BC, total active listings are down 14%. BC is solidly in Sellers Market territory. When this happens it often results in acceleration of prices to the upside. Buyers have preferred properties with more space causing the average price to increase 12.5% year over year to $812,000 due to more single family home sales.

In Kamloops, there were 337 unit sales for October 2020 which is a 23.4% change year over year. The average price also increased 11.4% to $466,113. The number of active listings for October was 1,173 which is a 5.5% increase over the year before. There is 3.5 months worth of inventory.

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.