Kamloops Real Estate Stats: December 2021 vs. December 2020
For the month of December 2021 there were152 residential unit sales recorded by the Kamloops & District Multiple Listing Service® (MLS®) in December 2021. This represents a 34.7% decrease over the numbers that were recorded in December 2020, at 233.
The average residential sales price was $663,774, up by approx. 33 per cent from $501,465 recorded in the same month last year. There were 113 new listings recorded by the Kamloops MLS® last month and there are 714 active listings in the Kamloops & district region, as of January 04, 2021.
The average residential sales price of $663,774.00 will likely stay over the $600K mark for the months ahead. This does not mean that all residential properties should be selling over $600K as there are still a number of properties valued well below that number.
The latest BC Assessment numbers have most homes in the region showing a 20-25% increase in assessed value year over year. BC Assessment has had a difficult job in catching up with the real estate market over the past 18 months and this latest increase puts the assessed value and the likely real estate value very close to one another for the time being.
The year to date sales for the Kamloops area shattered all past records with 3689 units sold compared to 3044 in 2020. This represents a 21.2% increase in total sales volume year over year. As of January 4th there are 714 active listings.
The Kamloops market would normally see between 1500-2000 active listings so we are still in a very supply lean market which will only increase sales prices until that supply/demand model can balance out.
Posted by Andrew Karpiak on