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April 2021 Market Statistics

INDY’S COMMENTS 

April officially marked one full year of Covid market changes, looking at the chart below you can see the big drop of activity 12 months ago compared to last month. Now we know, that was the calm before the storm!  Compared to historical numbers of home sales  (April 2019 – 248, April 2018 – 243), there is still a significant uptick in activity for the past year.  

KAMLOOPS AND DISTRICT NEWS

“Just like last year, 2021 is proving to be an exceptional year for Realtors® and consumers alike. This year though, we’ve managed to achieve some much-needed consistency in terms of sales. I believe Realtors® have skillfully traversed a difficult path together in 2020. As far as the current situation goes, it is safe to say that the market has recovered since the first COVID-19 restrictions in March 2020… There has also been a notable spike in the number of people coming from other regions and buying in Kamloops, which is helping to keep the demand very competitive. This is a benefit for Sellers looking to list their homes in this busy spring market. Even with this spike, we continue to have a strong local market as 63% of the buyers in 2021 remain local to Kamloops and the surrounding areas”, said KADREA President, Chelsea Mann.

Average prices in the region have sky-rocketted since the beginning of the pandemic. Chelsea adds, “… In the last couple of months, our ‘Sales to List Price’ comparison has been above 100 per cent. Meaning that on an average, the buyers of Kamloops real estate are paying more than the asking price.” If the current hot market trend continues, the inventory in the region will soon be exhausted. “The shortage of inventory is undeniably the biggest concern we have at the moment.  Although the market appears to be slowing down a little, we are on track to sell more than we ever have in a calendar year, beating our performance in 2007. Which means that we must keep adding new listings at a faster rate than we sell. Recent data shows that we’ve jumped from 314 new listings in March 2021 to 526 in April 2021. These are positive signs.” added Mann.

Neighbourhoods with the most sales in  April (# of sales): 

1. Sahali (40)
2. Aberdeen (34)
3. Brocklehurst (32)
4. South Kamloops (28)
5.  Sun Peaks (25)

	April 20	April 21	Year to Date
NEW LISTINGS	184	424	1313
TOTAL SALES	93	311	1091
AVG. RESIDENTIAL SALE PRICE	$432,445	$561,024	$540,916
AVG. DAYS ON MARKET	61	40	50
ACTIVE LISTINGS	642	515	–

 

YTD	2020	2021
NEW LISTINGS	908	1313
TOTAL SALES	568	1091
AVG. RESIDENTIAL SALE PRICE	$440,614	$540,916
DAYS ON MARKET	52	50

 

*Table Stats are for Kamloops area only, all types of housing as of May 4/21  – 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 *

March 2021 Market Statistics

INDY’S COMMENTS 

If you felt like you were seeing sold signs everywhere you looked, you were not wrong.  House sales are nearly double this quarter than the same period last year.  Historically in the Interior, the first quarter is a slower period prior to the  summer market, 2021 started off strong and is continuing with no end in sight. End of month listing inventory is very low and number of listings cannot keep up with the current demand.

Again, spotlight is on the detached single family home category — at this moment there is only 133 total within Kamloops and only 73 of those are under $750,000.00. Without any doubt that has always been the preferred housing type here in Kamloops as it has typically been an affordable option for families. With the creeping house price rising it’s becoming even less so with more pressure now being placed on freehold half-duplex as a more cost effective option vs. stratafied units. 

KAMLOOPS AND DISTRICT NEWS

The Kamloops And District Real Estate Association (KADREA) reports that a total of 372 residential unit sales were recorded by the Kamloops & District Multiple Listing Service® (MLS®) in March 2021. This is 104.3 per cent above the numbers that were recorded in March 2020. The average MLS® residential price in the area was $545,915, up by approx. 29 per cent from $422,673 recorded in the same month, last year.

KADREA’s new 2021 President, Chelsea Mann said, “It has been a year since we first recorded a drop in sales numbers due to the coronavirus lockdown, and what a year this has been for Kamloops real estate. We’re indeed setting sales records in the region and I don’t see any downtrend in the months to come. With that said, we must also not ignore the fact that this sharp rise in sales figures, is relative to a sluggish period in the 2020 market.”

Neighbourhoods with the most sales in  March (# of sales): 

1. Brocklehurst (47)
2. Sahali (42)
3. South Kamloops (28)
4. Aberdeen (25)
5. North Kamloops (23)

	March 20	March 21	Year to Date
NEW LISTINGS	292	407	974
TOTAL SALES	150	327	770
AVG. RESIDENTIAL SALE PRICE	$449,155	$549,970	$532,374
AVG. DAYS ON MARKET	40	47	54
ACTIVE LISTINGS	623	541	–

 

YTD	2020	2021
NEW LISTINGS	724	974
TOTAL SALES	475	770
AVG. RESIDENTIAL SALE PRICE	$442,212	$532,374
DAYS ON MARKET	50	54

 

*Table Stats are for Kamloops area only, all types of housing as of Apr 6/21  – 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 *

February 2021 Market Statistics

INDY’S COMMENTS 

Unsurprisingly, February hit new sale records and saw a huge increase on the single family category sale price. This February the number of home sales in just the Kamloops area was up 51% from 2019. There may have been more sale signs popping up in your neighbourhood but  it did not relieve any pressure on Buyers when the demand was just as high.

Buyer’s interested in the single family freehold category are starting to really feel the pressure with the average home now $651,442.xx — WOW. At this time of posting this; there is only 112 freehold single. fam houses for sale – of those only 54 are below $750,000.00.  We have seen that number really creeping up in 2020 and that momentum is continuing into this year. Big question from everyone – will it slow down, certainly this pace can’t last?  Personal opinion – this isn’t going anywhere fast… interest rates remain low, buying power continues to be high, Kamloops continues to be an attractive option for those looking to move out of their town/cities.  

KAMLOOPS AND DISTRICT NEWS

The Kamloops And District Real Estate Association (KADREA) reports that a total of 283 residential unit sales were recorded by the Kamloops & District Multiple Listing Service® (MLS®) in February 2021. This is 37.4 per cent above the numbers that were recorded in February 2020. The average MLS® residential price in the area was $515,293, up by approx. 20 per cent from $428,824 recorded in the same month, last year.

349 new listings were added last month and inventory numbers are improving. Wendy Runge (KADREA President) – “Although the numbers have increased, it doesn’t feel like there’s much of a change in the market scenario. We are selling listings at the same rate as the number of listings hitting the market. We are up 6.3% in listings from last February, but overall, we are still down 40% in total number of listings from this time last year. The gap in the number of listings to the number of sales has to increase dramatically to see any significant change.”

Neighbourhoods with the most sales in  February (# of sales): 

1. South Kamloops (25)
2. Sahali (25)
3. Aberdeen (23)
4. Westsyde (20)
5. Brocklehurst (19)

	FEB 20	FEB 21	Year to Date
NEW LISTINGS	225	302	567
TOTAL SALES	187	239	438
AVG. RESIDENTIAL SALE PRICE	$439,428	$527,356	$519,114
AVG. DAYS ON MARKET	55	55	60
ACTIVE LISTINGS	556	509	–

 

YTD	2020	2021
NEW LISTINGS	432	567
TOTAL SALES	325	438
AVG. RESIDENTIAL SALE PRICE	$439,008	$519,114
DAYS ON MARKET	55	60

 

*Table Stats are for Kamloops area only, all types of housing as of Mar 4/21  – 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 *

January 2021 Market Statistics

“Upward trend continues in Kamloops real estate, but active inventory is a cause of concern.” – KADREA

The Kamloops And District Real Estate Association reports that a total of 244 residential unit sales were recorded by the Kamloops & District Multiple Listing Service® (MLS®) in January 2021. This is 49.6 per cent above the numbers that were recorded in January 2020. The average MLS® residential price in the area was $495,809, up by 17.4 per cent from $421,970 recorded in the same month, last year. Total sales dollar volume in January stood at $120.9 million, a 75.8 per cent rise over 2020, which was $68.7 million. There were 314 new listings recorded by the Kamloops MLS® last month.

This is yet another addition to the 7-month, record-setting sales streak in the Kamloops region.  “We continue to march on an encouraging market path, one that was set with the help of a solid end to 2020. As we stepped into 2021, there was a lot of excitement among Realtors® to see how the market responds to the arrival of the Covid-19 vaccine. The market has indeed responded positively, as we have seen a clear spike in the number of listings that were added last month. We’ve been keeping a keen eye on the alarming active inventory numbers, as demand in the region for Single-family homes is expected to continue. Not many of my colleagues out there would deny that the average number of offers we receive per listing has been growing. This may be due to lack of inventory”, said KADREA President, Wendy Runge.

Average prices have increased by 17 per cent in January 2021 compared to January 2020. Runge adds, “We have always been vocal about the potential of Kamloops and region to grow into an attractive investment destination for long-term home buyers. But we need to be realistic in how we interpret these eye-catching numbers. Our market is steady, and we’re adding just enough listings per month to cater to this ever-rising demand. We must note that because of this steadiness, there hasn’t been much increase in average prices from December 2020 to January 2021. So, there’s something in this market for everyone – the seller, as well as the buyer. This is very much the scenario across BC”.

Neighbourhoods with the most sales in  January (# of sales): 

1. Brocklehurst  (22)
2. Sahali (21)
3. North Kamloops (19)
4. South Kamloops (17)
5. Aberdeen  (15)

	JAN 20	JAN 21	Year to Date
NEW LISTINGS	229	279	279
TOTAL SALES	138	197	197
AVG. RESIDENTIAL SALE PRICE	$438,439	$509,436	$509,436
AVG. DAYS ON MARKET	55	65	65
ACTIVE LISTINGS	621	847	–

 

 

*Table Stats are for Kamloops area only, all types of housing as of Feb 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 *

2020 Market Year End Summary

As we all get over the hump of the year that 2020 was and dig in deep to keep positive & healthy through 2021, I wanted to provide everyone a quick summary of the market activity last year.  For those who love stats and market trends, I hope that this gives you a bit of insight into the past 12 months. As always, if you have questions or want to know how your particular home fits in to the big picture, give me a call direct. (778) 220-4639

All the below numbers and stats are from the Kamloops area only. For this wrap up I included only housing, not land or recreational properties. There was a total of 2316 home sales in 2020 — of those 1,295 were single family homes. Very consistent numbers for Kamloops to have approximately half of all sales being made up by the SFH category. The remainder would be broken down by apartments, townhouses, half-duplex, multi family (full duplex, triplex/fourplex).

We know housing prices increased this year, that was the big number that was touched on month by month by the Real Estate Board and media. 2020 saw an increase in price of about 9% this year and an increase of 16% from 2018. A big factor in housing price increase this year was the added pressure of demand placed upon the market by incredibly low interest rates that held through the entire year.

Pent up demand on the market with steady, not increasing supply will certainly push 2021 into the same trajectory. Bank of Canada has made several public releases over the last couple of months that low interest rates would continue (potentially until 2023); so that ability for home purchasers to get approved for higher purchase prices wont be stopping anytime soon.

Neighbourhoods with the MOST sales in  2020 (# of sales): 

1. Brocklehurst  (289)
2. Sahali (254)
3. Aberdeen (216)
4. South Kamloops (206)
5. Westsyde (184)

Neighbourhoods with the LEAST sales in  2020 (# of sales): 

1. Red Lake (3)
2. McLure/Vinsula (4)
3. Paul Lake (6)
4. Pinantan (6)
5. Westmount (9)

 

Number of home sales broken down by price ranges:

$200,000 or less – 178

$200,001-300,000 – 247

$300,001-400,000 – 359

$400,001-500,000 – 558

$500,001-600,000 – 444

$600,001-700,000 – 240

$700,001-800,000 – 144

$800,001-900,000 – 60

$900,001-1,000,000 – 36

$1,000,000 + – 50

*Stats as of Jan 25/21 *

December 2020 Market Statistics

Hello 2021!

December wrapped up setting new records across the board. Finishing of the year setting an all time December record of home sales and sale price. The charts I use month to month (as seen at the bottom of the page) summarizes all market activity for the Kamloops area; including lot, acreage, farm, condos etc. 

The single family category (house only) set an all time Kamloops high in December $659,837  with a YTD average of $600,095.  For comparison for those who have not lived here in recent years — in 2016 the average sale price in the same category was $434,685; an increase of 38%.

Kamloops Only Townhouses: December 2020 – $399,831   2020 YTD – $405,093    2016 AVG – $307,068

Kamloops Only Apartment Units: December 2020 – $277,878  2020 YTD –  $295,963  2016 AVG – $214,774 

Neighbourhoods with the most sales in  December (# of sales): 

1. Brocklehurst  (23)
2. South Kamloops (18)
3. Sahali (16)
4. Aberdeen (15)
5. North Kamloops  (15)

	DEC 2019	DEC 2020	Year to Date
NEW LISTINGS	154	184	3429
TOTAL SALES	110	191	2399
AVG. RESIDENTIAL SALE PRICE	$410,196	$495,428	$482,826
AVG. DAYS ON MARKET	52	72	60
ACTIVE LISTINGS	592	821	–

 

YTD	2019	2020
NEW LISTINGS	3271	3429
TOTAL SALES	2297	2399
AVG. RESIDENTIAL SALE PRICE	$444,574	$482,826
DAYS ON MARKET	48	60

 

* Stats are for Kamloops area only, all types of housing as of Jan 7/21 *