Within the Kamloops and District region, there were 192 residential unit sales recorded last month, down from the 213 recorded in March 2023, with a 30.9% decrease compared to March 2022 sales. There were 413 new listings added in April in the Kamloops and District region, which was a decrease of 23.1% compared to the same time last year. Overall inventory, or active listings, saw an increase of 35.7% increase compared to April 2022, coming in at 923.

The volume of active/new listings is still low relative to past years. This is maintaining a high level of pressure on sales prices. The benchmark price, a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes,” saw an increase in the…

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Listings are up marginally, but single-family benchmark sales prices are down 10.7%. Within the Kamloops and District region, there were 213 residential unit sales recorded last month, up from the 149 recorded in February 2023, yet down 36.8% compared to March 2022 sales. There were 391 new listings added in March in the Kamloops and District region, which was a decrease of 24.2% compared to the same time last year.

Overall inventory, or active listings, saw an increase of 76.2% increase compared to March 2022, coming in at 858 due to a decrease in overall sales for the month. Spring typically represents an uptick in listing activity and buyer activity, so I am expecting to see both sales and new listing numbers climb. The high interest rates are still…

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Within the Kamloops and District region, there were 149 residential unit sales recorded last month, up from the 104 recorded in January 2023, yet down 50.8% compared to unusually high February 2022 sales. There were 305 new listings added in February in the Kamloops and District region, which was a decrease of 16.2% compared to the same time last year.

Overall inventory, or active listings, saw an increase of 112% compared to February 2022, coming in at 793. “While there has been a gradual increase in inventory levels in the Kamloops area over the past few months, this growth is not sufficient to meet the demand for new listings required to achieve a balanced market,” says Cruickshank.

The benchmark price, a better representation of value…

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Residential real estate sales started the year off with nearly half as many sales activity compared to the same month the year prior, reports the Association of Interior REALTORS® (the Association). Within the Kamloops and District region, there were 104 residential unit sales recorded last month, up from the 75 recorded in December 2022, yet down 45.5% compared to January 2022.

There were 324 new listings added in January in the Kamloops and District region, which was a healthy uptick of 15.7% compared to the same time last year. Overall inventory, or active listings, saw an impressive 174.7% increase compared to January 2022, coming in at 2,044. “Listings in the region have been persistently low since 2016, so this injection of inventory is certainly…

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As 2022 came to an end, residential real estate sales continue to soften through the month of December. 2022 started very strong but did see a shift as the BOC started its interest rate hike campaign...that shift has continued through the end of 2022 and will continue to do so into 2023. Interestingly the Kamloops and area inventory levels continue to grow, but sales activity is dropping, with some key Benchmark prices also dropping month over month.  

“Looking to 2023, we anticipate inventory will continue to accumulate, as compared to recent years, with all signs pointing to more balanced conditions with buyers and sellers benefitting equally,” notes Lyndi Cruickshank, President of the Association of Interior Realtors.

Within the Kamloops and…

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A total of 844 residential unit sales were recorded across the Association region in November, representing a 48.4% decrease in sales compared to the number of units sold during the peak market of November 2021, with a decrease of 15.6% compared to last month. At first glance, this appears to be a massive decrease from November of 2021, but we need to remember that that time period was a hyperactive market, so it's almost like comparing apples to oranges.

We really need to be comparing Nov 2022 sales numbers to pre-pandemic sales volumes, so when that's done, we are pretty much bang on to an average November. The overall listing inventory saw a healthy 85.3% boost over the availability in November 2021, with 2017 units currently on the market in the…

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Residential real estate sales for the month of October in the region saw an increase in inventory while sales held steady, reports the Association of Interior REALTORS® (the Association).” Within the Kamloops and District region, there were 144 residential unit sales recorded last month, down from the 166 recorded in September, with a decrease of 52% compared to October 2021.

The Benchmark Price, a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes”, saw an increase across all home categories in the Kamloops and District area compared to October 2021, with the greatest increase occurring within the townhome category for another consecutive month with a 21.4% increase coming in at…

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In order to be called an investment property, the property in question has to show some kind of investment return. But what does that investment return actually mean? 

It could mean a few different things to different people. Does the investment show a CAP rate return? Will there be capital appreciation over the long term? Can I use the property personally and still have my expenses covered? What is the future use of the subject property (think redevelopment)? Let’s break these various scenarios down in more detail, but remember, the devil is in the details. 

What is a CAP rate? 

If you look at an apartment building with four units in it (a four-plex), there is a very quick and easy calculation that you can make to determine a CAP rate. You take…

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Residential real estate sales for the month of September in the region saw a similar slowing down as all other markets in the province, reports the Association of Interior REALTORS® (the Association). A total of 1,084 residential unit sales were recorded across the Kamloops region in September, down 37.3% compared to the number of units sold during September 2021.  

“We are seeing that the Bank of Canada's interest rate tightening in the last few months is keeping some buyers on the sidelines although demand remains strong,” says the Association of Interior REALTORS® President Lyndi Cruickshank, adding “with no mortgage rate relief anticipated any time soon, some potential homeowners are constrained from being able to enter the real estate market.” 

…

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Kamloops and region saw a total of 165 residential unit sales for August 2022, which was down from July 2022 at 194 sales. This was a whopping 42.5% decrease from August 2021.

Interestingly the Benchmark price saw double-digit increases across all home categories in the Kamloops area compared to the same month last year. From a listings standpoint, there were 391 new listings added in August, which was a marginal increase of 3.2% compared to the same time last year, yet 18.5% less than July's 480 new listings.

This could be attributed to the fact that more people are on vacation in the month of August before the start of school. In total, we have seen a 126.9% increase in active listings compared to August of 2021, which should be driving the…

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