Real Estate Blog

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. Total sales dollar volume in March stood at $203.1 million, a 164 per cent rise over 2020, which was $76.9 million. There were 479 new listings recorded by the Kamloops MLS® last month and there were 651 active listings in the Kamloops & district region, as of April 03, 2021.

March of 2020 was a sluggish period so the dramatic increase in 2021 sales numbers is slightly exaggerated by this fact. Average prices continue to sky-rocket and, at this rate, unit sales for 2021 will be better than any other period the market has ever seen. The increase in demand can be attributed to record low mortgage rates and the desire for people in large centers to move out of those cities to live and work remotely in smaller communities. This trend of working from home does not have an end in sight and will continue to drive interest and sales prices in the Kamloops market. 

The year to date sales was up by 103.5 per cent to $476.3 million, compared to the same period in 2020. YTD residential unit sales numbers in March 2021, stood at 912 units. The average MLS® residential price was up 22.9 per cent to $522,356 (YTD).