Big jump in Okanagan, Kamloops real estate sales, but still way below average
Real estate sales across Kamloops and the Okanagan increased significantly in September compared to the same period a year earlier, but sales still lag behind the ten-year average.
According to figures from the Association of Interior Realtors, home sales in the Central Okanagan were up 40% in September, compared with the same month in 2024.
The North Okanagan saw an increase in sales of more than 50%, while sales in the South Okanagan increased 27%. In Kamloops, sales were up 23%.
In the South Okanagan, nearly twice as many single-family homes were sold in September, compared to the same month in 2024, while condo sales in the region increased by a third.
Townhome sales in both the Central and North Okanagan jumped by roughly 40% compared to a year earlier.
"The fact that figures are stronger than last year, with active listings shrinking as sales climb, is an encouraging indicator that the market is gaining strength and stability," association president Kadin Rainville said in a media release issued, Oct. 6.
While there was a dramatic uptick in sales compared to a year earlier, numbers from the Rennie Advantage real estate report show that in the Central Okanagan, overall sales were still 26% below the 10-year September average.
In the Central Okanagan, detached home sales were the furthest below the ten-year average at 30%, followed by townhomes at 23% and condos at 17%.
The Rennie Advantage said that while there was a significant number of new listings on the market in the Central Okanagan, inventory fell for the third consecutive month and marked the first year-over-year decline in inventory since March 2022.
That said, the number of active listings in the Central Okanagan is 37% above the 10-year September average.
Condo inventory in the Central Okanagan is the furthest above average at 57%, followed by townhomes at 39% and detached homes at 29%.
Prices across all housing types from Kamloops and the Okanagan remained largely unchanged, with only very minor fluctuations in the prices.
The Association of Interior Realtors puts the benchmark price for a single-family home in the Central Okanagan at $1,021,000. The benchmark price in the North Okanagan is $754,000, and in the South Okanagan it is $759,000. In Kamloops, the benchmark price for a single-family home is $662,000.
A townhome in the Central Okanagan will set you back $737,000, and in the North Okanagan $596,000. In the South Okanagan a townhome's benchmark price is $513,000, and in Kamloops it's $509,000.
The benchmark price of a Central Okanagan condo is $495,000. That drops to $421,000 in the South Okanagan and $316,000 in the North Okanagan. In Kamloops, the benchmark price for a condo is $379,000.
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