KAMLOOPS AND DISTRICT NEWS
Although there were fewer sales in November compared to 2020, the year-to-date (YTD) sales are at a 10-year high for KADREA REALTORS®. Chelsea Mann, KADREA President, has seen this first-hand. “The market is still very hot. Our active listing inventory is on the low side, and ‘days on market’ for the typical residential listing keeps coming down. If you’re in the market for a home, you need to act quickly.” High consumer demand continues to push sale prices upward, although Mann believes this may cool down in 2022: “Forecasted mortgage rates will likely put some downward pressure on home prices in 2022, but the market still desperately needs more housing supply. The government is looking at potential initiatives to help boost the supply, but at this point, I’m not confident the proposed measures will support the housing market in the right way.”
Mann is referring to the provincial government’s announcement of new legislation that will require cooling off periods for resale properties and newly built homes. “Our industry supports evidence-based policy, and our provincial association, BCREA, as well as the 10 real estate boards in British Columbia, look forward to a thorough consultation process to understand the full scope of the impact this will have on the market.”
Neighbourhoods with the most sales in November (# of sales):
- Brocklehurst (29)
- Sahali (19)
- Aberdeen (18)
- Juniper Ridge (16)
- South Kamloops (16)
| NOV 20 | NOV 21 | Year to Date | |
|---|---|---|---|
| NEW LISTINGS | 198 | 219 | 3510 |
| TOTAL SALES | 213 | 2111 | 2922 |
| AVG. RESIDENTIAL SALE PRICE | $526,917 | $615,717 | $571,481 |
| AVG. DAYS ON MARKET | 73 | 35 | 42 |
| ACTIVE LISTINGS | 546 | 632 |
– |
| YTD | 2020 | 2021 |
|---|---|---|
| NEW LISTINGS | 2885 | 3510 |
| TOTAL SALES | 2208 | 2922 |
| AVG. RESIDENTIAL SALE PRICE | $481,926 | $571,481 |
| DAYS ON MARKET | 59 | 42 |
*Table Stats are for Kamloops area only, all types of housing as of Dec 7/21 – 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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