Call 250-682-0158 Login or Sign Up

Posts Tagged ‘trends’

Monthly Kamloops Real Estate Stats for May 2017

Wednesday, June 14th, 2017

Median Residential House Price $437,900 up 2% from April 2017

Residential units May 2017 sold up 14% from April 2017

Average Days on the Market May 2017 33 days down 29% from April 2017

Most active areas in Kamloops were Aberdeen, Sahali and Brocklehurst

Most active price range

$320,000 – $359,900  46 sales

$360,000 – $399,900  34 sales

$400,000 – $439,900  35 sales

$600,000 plus             43 sales

New Construction of multi family units

Friday, February 17th, 2017

Kamloops is continuing to counter province wide trends for real estate, at least for now.

Home sales in B.C., driven by the sagging Lower Mainland market, fell by 23 per cent from the same time last year. The Kamloops region, however, saw an increase in sales of five per cent compared to January last year.

Cameron Muir, chief economist for B.C. Real Estate Association, said some markets are going against the grain. 

“Housing demand across the province returned to long-term average levels last month,” he said in a statement.

“However, regional variations persist, with Victoria posting above average performance and Vancouver falling below the average.”

At the same time, the average price on the multiple listing service (MLS) declined by 17.5 per cent. Kamloops and District Real Estate Association estimated the average sale price for a residential detached home within the city in January was $410,000, a number that is stable. Numbers do vary from month to month due to price range of homes sold but has stayed over $400,000 since last year .


Kamloops and District home sales post best annual total in nine years

Monday, January 9th, 2017


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.

October Kamloops Median Residential Home Price

Monday, November 7th, 2016

Kamloops only Median Residential Price: (does not include condominiums or mobiles)  $405,000

Kamloops and District Median Residential Price: (includes all areas, not just Kamloops, does not include condominiums or mobiles) $375,000

Kamloops Real Estate Statistics for August 2016

Sunday, September 11th, 2016

Comparing August 2016 to August 2015


Comparative Statistics for Kamloops (Residential Only)






Number of New Listings 429 392  

UP 9.44%


Residential Units Sold 362 264 UP 37.12%
Avg. Days on Market 53 60 DOWN 11.6%
List to Sell Price Ratio 98.18% 97.22%  

UP 0.99%



Residential Price

$419,00 $378,000  


UP 10.85%



Total Monthly Sales $$ $127,636,731 $83,952,683 UP 52.03%
Active Listings 1708 2042 DOWN 16.3%




*The above information is from sources deemed reliable but it should not be relied upon without independent verification.

Kamloops a great place to live and move to.

Sunday, February 28th, 2016

Kamloops Named 7th Top Growing City in Canada by U-Haul

Kamloops Named 7th Top Growing City in Canada by U-Haul

Canada’s Tournament Capital is also one of the top growing cities in the country, according to U-Haul.

The moving and storage company has been ranking Canada’s top growing cities, revealing them daily until March 4th.

Kamloops comes in at number seven on the list.

Why move here:

Sunniest City in Canada

Affordable cost of living

Lots of outdoor activities

Excellent transportation and highways in all directions

“Kamloops is a very beautiful, affordable place to live,” said Horace Martin, U-Haul Company of British Columbia President. “It has Riverside Park, a world-class ski resort, and the right mix of big city/small town feel. It’s billed as the Tournament Capital of Canada. There’s no shortage of activities in one of the sunniest cities of Canada.”

For this particular list, growth is determined by the number of incoming one-way U-Haul truck rentals versus outdoing rentals.

According to U-Haul, 53.2 per cent of truck rentals were coming into Kamloops rather than leaving.

Property Transfer Tax and the new BC budget

Thursday, February 18th, 2016

There are no changes to the first time home buyer exemption limits;

All buyers (whether first time buyers or not) no longer pay PTT on purchases of newly-built homes up to $750,000 in value; note the buyer must be a Canadian citizen or a permanent resident; there is a partial exemption for homes between $750,000.00 and $800,000.00; The newly built home exemption will only apply to people who actually occupy the home as their principle residence for a year after purchase. (relatives do not qualify)

PTT has changed so that there is now a 3% tax on amounts over $2,000,000.00. The 3% tax is only paid on the amount over $2,000,000.00, not the full price.


The existing first time home buyers program for re-sale homes remains unchanged. The threshold remains $475,000 with a partial exemption for homes between $475,000 and $500,000


The most expensive City is Vancouver

Tuesday, January 26th, 2016

Home Costs 2015we are only 3 hours away but so much more affordable, Kamloops a great place to call home.

Variable or Fixed rate Mortgage

Friday, November 27th, 2015


Courtesy of  4Front Mortgages!

Rates Are Rising
After the Liberal majority win, the government of Canada bond yields started climbing, most likely due to the fact the Liberals have larger spending plans.

Variable Rates
Variable rates have gone up.  What this means is the discount that lenders give off of the Prime Rate has decreased.  A few months ago you could negotiate discounts around .60% – .80% below Prime.  Now discounts are around .30% – 40%. This takes the average variable rate you can get to the 2.35% level.  Previously at 2.00% a variable was an easy sell.  Now, with 5 year fixed rates at around 2.70% the choice isn’t as obvious.

Prime – 2.70%
The Prime Rate, currently at 2.70% may go up earlier than we all thought. With spending promises to keep, combined with a strong US economy it looks as though the long-awaited rate hike could take place in mid-2016. The first rate hike will likely be .25%, which would bring a variable rate to 2.60% (assuming you can still obtain .40% off of Prime), narrowing the gap between fixed rates to a lowly 0.10%, making fixed very appealing now. If you do choose a fixed rate, it is possible that you will qualify for more.  Lenders are required to ensure you can afford your mortgage if rates go up and if you’re in a 5 year fixed term that is all the assurance a lender needs.

Additional Considerations for Fixed Rates

Penalties – Penalties from some lenders (mainly banks) can make getting out of a fixed term very punitive.  Therefore, if you’re considering a 5 year fixed term but not too sure if you’ll be in the home for the full term consider going with a lender who offers a fair penalty calculation.

3 Years – The average time a first time homebuyer keeps in their property is 36 months. Going with a 5 year term may not be the best option if you’re unsure of how long you’ll need that mortgage for. Yes, you can always move mortgages from one property to another, however it can add some complexity to your application

Historical Considerations – Variable rates have been proven to be cheaper in “the long run”. Yes, math doesn’t generally lie, but what’s good in the long run may not necessarily be good for the next 5 years.

House Sales Expected to Increase in Kamloops

Tuesday, October 27th, 2015

House Sales Expected to Increase in Kamloops

House Sales Expected to Increase in Kamloops

The housing market in Kamloops is expected to remain stable over the next two years, according to a forecast by the Canada Mortgage and Housing Corporation.

Housing sales for Kamloops are expected to be up to 1,750 in 2015, and will increase to 1,780 in 2016 and 1,800 in 2017.

The average price of a home in the Tournament Capital is not expected to greatly increase. The price is expected to be $404,000 in 2015, increasing to $420,000 in 2017.

The vacancy rate of homes in Kamloops is expected to remain steady as well. It is forecasted to be a 3.7 vacancy rate in 2015, down from 3.9 in 2014, and is expected to return to 3.9 in 2016. The vacancy rate in Kamloops is, and is forecast to continue to be, above the national average.

Housing starts are anticipated to slightly decrease going from 518 new homes under construction in 2014 down to 470 in 2017. The new construction to date in 2015 is 9.2 per cent less than it was at this date in 2014 in Kamloops.

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.