Kamloops Real Estate Blog

BC Real Estate Association (BCREA) has released it’s latest Housing Market Update where Chief Economist Brendon Ogmundson discusses the January 2022 statistics.

Sales activity across the province was down about 15% from a record January 2021 however it remained above the long term average levels. Home sales year over year were essentially flat from December 2021. Active listings in the province are still at historically low levels. Active listings were down 36% year over year which equated to 13,000 listings. For historical context in a balanced market you would see active listings closer to the 40,000 mark. This imbalance has kept markets all over BC very tight. MLS average price for BC was up 23.5% year over year in January. Average prices in the interior are up significantly compared to this time last year.

The average home price in Kamloops was $631,032 which is a 25% year over year change. There were 189 unit sales, down 24.4%. There were 363 active listings down 25.9% which equated to 1.9 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.

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Vancouver, BC – February 14, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 6,138 residential unit sales were recorded by the Multiple Listing Service^® (MLS^®) in January 2022, a decrease of 14.7 per cent from January 2021. The average MLS^® residential price in BC was $1,042,169, a 23.5 per cent increase from $843,918 recorded in January 2021. Total sales dollar volume was $6.4 billion, a 5.3 per cent increase from the same time last year. 

“Sales activity is down compared to record levels at the start of last year,” said BCREA Chief Economist Brendon Ogmundson. “However, the level of sales activity remains strong compared to the long-term average and inventory is still incredibly low. As a result, it will take quite some time to get back to healthy balance in the BC market.”

Total active listings remain near record lows with just 13,000 total listings in the province. For context, a healthy level of re-sale listings for the province is closer to 40,000 listings. As a result of this listings drought, markets all over the province are seeing significant upward pressure on prices.  

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.