February 2017 Activity
Kamloops only Median Residential Price: (does not include condominiums or mobiles) $397,500
Most active price range
$320,000 – 359,999 29 sales
$360,000 – 399,999 22 sales
$400,000 – 439,999 17 sales
Most active area
Aberdeen 21 sales
South Kamloops 18 sales
Sahali 17 sales
Brock 16 sales
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February is a perfect time of year to indulge in home comforts like cooking big-batch meals, reading in the afternoon and playing a board game or watching a movie with the kids in the evening. If you are considering putting your home on the market this year, it’s a good idea to start the process now. Set a timetable, make a list of home projects that need to get done to help your home show well. I’m here to help, call me if you have any questions and let’s get your house Sold
Indulge in weekly fresh flowers. With Valentine’s Day this month, the markets will be filled with fresh flowers , not just red roses but tulips and daffodils. Treat your home to a bouquet of fresh-cut blooms once a week to add a little colour — spring may still be a little way off, but that doesn’t mean your coffee or dining table can’t look like a spring garden in bloom!
The number of homes sold through the MLS® System of the Kamloops and District Real Estate Association recorded an 11th consecutive double-digit increase in December 2016.
According to the Association’s statistics, home sales totaled 144 units in December 2016, up 28.6 per cent from December 2015. This was the best month of December since 2009.
On an annual basis home sales numbered 3,181 in 2016. This stood 23.6 per cent above 2015 and marked the first year to crack the 3,000 mark since 2007.
“Housing demand in the region remains historically strong,” “2016 was the best year for the local housing market in almost a decade. Better still, the handoff into 2017 looks even stronger, with higher sales compared to one year ago, and quite a bit less inventory. This should further support prices this year.”
The average price of homes sold in December 2016 was a record $367,591, rising 18.4 per cent from a year earlier. The annual average sale price was $345,528, up 5.9 per cent from 2015.
The dollar value of all home sales in December 2016 was $52.9 million, up 52.3 per cent on a year-over-year basis and a record for the month. This was also the first time volumes had surpassed $50 million in December.
There were 138 new listings on the Association’s MLS® System in December 2016, down 21.1 per cent on a year-over-year basis. This was the lowest December level in 15 years.
Active residential listings on the Association’s MLS® System numbered 1,031 units at the end of December, down 23.1 per cent from a year earlier.
There were 7.2 months of inventory at the end of December 2016, down from 12 months a year earlier and below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
Sales of all property types numbered 162 units in December, an increase of 33.9 per cent from December 2015. The total value of all properties sold was $58.3 million, up 58.6 per cent from December 2015.
The city’s real-estate market shows no signs of slowing, with recent numbers indicating residential sales jumped by a third compared to the same month last year.
Statistics from the Kamloops & District Real Estate Association show sales in May were up 36 per cent over last year.
This comes at the same time as supply continues to shrink. The number of listings compared to 2015 is down 15 per cent.
Cyndi Crossley, vice-president of the real-estate board, said the market is being driven by out-of-town buyers.
“In Kamloops, we are seeing buyers coming from the Lower Mainland, and understandably so, due to the sale prices and our affordable housing,” she said.
The B.C. Real Estate Association cites positive employment growth for the trends.
“They say we could see the stats continue as they are for approximately the next eight to 12 months,” Crossley said.
The median price for a single-family home in Kamloops is $405,000. That is influenced in part by 20 homes selling for more than $600,000 in May.
New data this week confirms that residential real estate continues to boom in British Columbia.
The BC Real Estate Association’s second quarter housing forecast calls for a record 115,200 units to be sold in 2016 through the MLS, that’s up 12.3 per cent year-over-year to break the previous record set in 2005 (105,600).
Prices are set to surge again, up 20.4 per cent to an average MLS price of $766,600. The outlook for 2017 is for a more modest 3.4 per cent increase.
“Record housing demand has depleted inventories in many urban areas, and the resulting imbalance between supply and demand has pushed home prices considerably higher,” commented Cameron Muir, BCREA Chief Economist.
Inventory will be helped by increased construction with BCREA predicting a 20 per cent rise in new housing starts this year.
April was another record-breaking month for home sales in British Columbia. There were 12,969 sales through the MLS of BCREA last month, beating March’s 12,560; and up 30.3 per cent from April 2015.
“Housing demand is exceptionally strong across the southern regions of the province,” said Cameron Muir, BCREA Chief Economist. “Consumers appear to be particularly active in the Vancouver Island, the Fraser Valley and the Thompson/Okanagan regions.”
The average MLS price was up 17.2 per cent year-over-year to $743,640 and the total value of all home sales surged 52.7 per cent to $9.64 billion.
The city’s real-estate market continues on a roll as booming sales and declining inventories threaten to push prices higher.
The Kamloops & District Real Estate Association reported yesterday that 320 homes changed hands in the greater region, up 40 per cent from April 2015.
The number of units sold year-to-date is up by about 28 per cent.
The number of residential units on the market increased slightly from the month before. At about 1,800 units, however, it is 14 per cent lower than the same month last year.
The combination of rising sales and declining supply typically sees upward pressure on prices.
The median price of a single-family home in the city of Kamloops sold in April was $385,000.
If your buying or selling, I’m here to help
Comparing March 2016 to February 2016
Comparative Statistics for Kamloops (Residential Only)
| March
2016 |
February 2016 | ||
| Number of New Listings | 520 | 422 | 23.22% UP |
| Residential Units Sold | 256 | 197 | 29.95% UP |
| Avg. Days on Market | 70 | 84 | 16.67% DOWN |
| List to Sell Price Ratio | 97.54% | 97.43% | 0.11% UP |
| Median Residential Price | $368,000 | $378,000 | 2.65% DOWN |
| Total Monthly Sales $$ | $86,693,738 | $65,085,608 | 33.20% UP |
| Active Listings | 1675 | 1560 | 7.40% UP |
*The above information is from sources deemed reliable but it should not be relied upon without independent verification.
Elementary Schools
1. St Ann’s ranked highest at 9.4
2. Our Lady of Perpetual Help at 7.7
3. Lloyd George at 7.4
4. Juniper Ridge at 7.4
5. Aberdeen at 7.0
Secondary Schools
1. St Ann’s ranked highest at 7.8
2. Beattie School of the Arts at 6.0
3. South Kamloops at 5.9
4. Sahali at 5.5
5. Valleyview at 5.5
| The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Kamloops Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. |
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