The Kamloops And District Real Estate Association is reporting 244 sales in the first month of the year. That is nearly 50% above the number of sales recorded in January, 2020. The total value of sales last month was $120.9 million, a 75% rise over 2020.

The average price for a single family home in the area last month was $596,712 which is down from $617,026 in December. The average price for a multi-family unit in January, 2021 was $350,508. That’s up from $327,378 in December.

KADREA President, Wendy Runge says this is yet another addition to the seven month, record-setting sales streak in Kamloops & the district. “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.” There were 314 new listings in the first month of the year.

“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,” says Runge. “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.”

“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”.