MLS Listings, News & Statistics
The Kamloops District Real Estate Association has released the latest Statistics for October 2020. With PDF documents included in the links.
PDF: Comparative Analysis – Oct 2020
PDF: Sales By Sub Area – Oct 2020
The latest BCREA Market Intelligence: COVID-19: Population Growth and Housing Demand examines how the sharp drop in immigration this year due to the global pandemic has impacted the BC housing market.
Click here to read the full report.
Summary Findings:
Immigration is the most important driver of population growth in BC, with a growing share within the prime working-age and household-forming demographic.
The global pandemic has resulted in a sharp drop in immigration and consequently BC reporting one of the lowest quarterly increases in population growth since 2011.
In the short term, the impact of lower population growth will weigh most significantly on the rental market due to a significant reduction in international students and new permanent residents.
BC Real Estate Association (BCREA) Chief Economist Brendon Ogmundson discusses the September 2020 statistics. In this housing market update it was a record setting September for BC housing, rising 63% year over year. Sales were up 16% for August and inventory remains low. The market in BC overall remains in the Sellers market territory. The Provincial average home price reached a record of $803,210.
Kamloops saw an increase in the number of unit sales year over year which was up 38.3% from the same time last year. We also saw price growth, bringing the average price of a home to $493,597 which is a 30% increase. Again this month the number of active listing remained low and below the average with 1,040 homes for sale, -17.6% less than this time last year. This leaves the Kamloops market with 3.1 months 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 – October 14, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 11,368 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in September 2020, an increase of 63.3 per cent from September 2019. The average MLS® residential price in BC set a monthly record of $803,210, a 15.3 per cent increase from $696,647 recorded the previous year. Total sales dollar volume in August was $9.1 billion, an 88.3 per cent increase over 2019.
“The provincial housing market had a record-setting September,” said BCREA Chief Economist Brendon Ogmundson. “Both total sales and average prices were the highest ever for the month of September as pent-up demand from the spring pushes into the fall.”
“Average prices are skewing higher as demand for space during the pandemic drives sales of single-detached homes,” added Ogmundson. Total provincial active listings are still down about 12 per cent year-over-year, with some markets even more under-supplied as the pandemic continues to keep listings low.
Year-to-date, BC residential sales dollar volume was up 25.1 per cent to $49.7 billion, compared with the same period in 2019. Residential unit sales were up 12.5 per cent to 65,023 units, while the average MLS® residential price was up 11.2 per cent to $764,298.
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.