KAMLOOPS AND DISTRICT NEWS
The Kamloops residential market was on track for 4000 sales by the end of 2021 but fell short at the end of the year. According to KADREA President, Chelsea Mann, “As far as our annual sales performance goes, we’ve had the best year sales-wise in a very long time. Our Year-To-Date (YTD) numbers indicate that 2021 has smashed all sales records dating as far back as 2007. In the process of achieveing this, we carried the hot-market momentum from the last quarter in 2020 into 2021 and maintained the upward pressure on unit sales until the first half of 2021. Earlier this year we broke our monthly unit sales and average price records quite easily as compared to 2020 after the initial lockdown months. The rapid sales growth that was recorded across all Boards in BC during most months this year was a result of the favourable government policies, the technology boost that our industry received, and the way REALTORS® maneuvered difficult market situations. As consumer demand was high but there was much reluctance among both buyers and sellers after the re-opening in mid-2021, Realtors® played a crucial role in building trust among consumers and in shaping 2021 as a recordbreaking year for Kamloops & district real estate”.
The average residential price in Kamloops & district now sits comfortably above the $600k mark. “Looking at the current market situation, average residential prices will continue to float around this figure in the days to come. However, this does not mean that $600k is the benchmark price of all property types. The Kamloops & district region is one such area in BC where we can find a range of properties across all price points. Based on the property-type that one may choose, an average consumer in Kamloops can still find properties to best match their budget. As we’ve faced an inventory crunch in the last few months, we’ve had buyers who are willing to pay above the asking price. This has led to average prices continually being pushed higher. A reversal in this trend is unlikely in 2022 as demand for properties in the region is set to continue and we are far below the benchmark of approximately 2000 active listings that we would see in a balanced market”, added Chelsea.
Neighbourhoods with the most sales in December (# of sales):
- South Kamloops (19)
- Brocklehurst (17)
- Sun Peaks (14)
- Sahali (14)
- Westsyde (13)
Neighbourhoods with the most sales in 2021 (# of sales):
- Sahali (397)
- Brocklehurst (363)
- South Kamloops (284)
- Aberdeen (265)
- Westsyde (225)
| DEC 20 | DEC 21 | Year to Date | |
|---|---|---|---|
| NEW LISTINGS | 167 | 99 | 3609 |
| TOTAL SALES | 196 | 1401 | 3064 |
| AVG. RESIDENTIAL SALE PRICE | $496,001 | $631,165 | $574,257 |
| AVG. DAYS ON MARKET | 73 | 46 | 42 |
| ACTIVE LISTINGS | 418 | 542 |
– |
| YTD | 2020 | 2021 |
|---|---|---|
| NEW LISTINGS | 3052 | 3609 |
| TOTAL SALES | 2404 | 3064 |
| AVG. RESIDENTIAL SALE PRICE | $483,073 | $574,257 |
| DAYS ON MARKET | 60 | 42 |
*Table Stats are for Kamloops area only, all types of housing as of Jan 13/22 – Kamloops only: Brocklehurst, Sahali, North Kamloops, Aberdeen, South Kamloops, Sun Peaks, Barnhartvale, Dallas, Westsyde, Campbell Creek/Deloro, Pineview Valley, Valleyview, Batchelor Heights, Cherry Creek/Savona, Dufferin/Southgate, Heffley, Juniper Heights, Pinantan, Rayleigh, South Thompson Valley, Sun Rivers, Knutsford-Lac Le Jeune, Tobiano *
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