Some housing prices falling in Okanagan, Kamloops
While housing prices show double digit increases in sale prices this year in the Thompson-Okanagan region compared to last year, that’s not the case when comparing month to month in 2022.
In most categories there have been significant price drops from May to June – by more than $70,000 in some locations.
Only condos in Kamloops and the North Okanagan and single-family homes in Kelowna have increased in value month over month.
The Association of Interior Realtors focuses on benchmark, or typical, selling prices in the Okanagan but only lists averages for the Kamloops area. This report, therefore, deals with averages for all Kamloops and Okanagan markets.
The association also includes the Kootenays and South Peace regions.
READ MORE: How Kamloops, Okanagan governments raise prices of new homes
Kelowna prices were hardest hit with the average townhome selling for $73,361 less in June than in May. Condos were also down $13,225. Single-family homes did gain $27,441 month to month but that was after a $103,626 drop from April to May.
The picture was a little brighter in Kamloops where condos and townhomes increased in average value by more than $43,000 from May to June. But, single-family home prices dropped by $33,164.
Condo sale prices also increased in the North Okanagan by more than $79,000 but townhomes dropped by more than $15,000 and single-family home prices fell by more than $40,000.
Average single-family home prices: June (May in brackets)
- $1,166,575 ($1,139,144) – Central Okanagan
- $832,930 ($873,339) – North Okanagan
- $787,826 ($829,990) – Kamloops
- $755,499 ($827,024) – South Okanagan
Average townhome prices: June (May in brackets)
- $694,794 ($768,155) – Central Okanagan
- $569,396 ($526,380) – Kamloops
- $514,026 ($577,845) – South Okanagan
- $502,026 ($517,385) – North Okanagan
Average condo prices: June (May in brackets)
- $505,412 ($505,412) – Central Okanagan
- $426,746 ($445,177) – South Okanagan
- $417,394 ($337,900) – North Okanagan
- $403,323 (359,568) – Kamloops
To contact a reporter for this story, email Rob Munro or call 250-808-0143 or email the editor. You can also submit photos, videos or news tips to the newsroom and be entered to win a monthly prize draw.
We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above.
