Kamloops, Okanagan housing prices rose faster than most of BC in December
At the tail end of the worst year in a decade for home sales, activity in the BC real estate market picked up in December both in terms of sales and prices.
December sales for BC grew by 2.6% to 3,596 for the month, aided by a 10.6% increase in Kamloops to 94 sales.
The Okanagan market moved markedly in the other direction with a 14.1% drop to 324 sales, according to data released by the BC Real Estate Association today, Jan. 15.
READ MORE: iN VIDEO: Worst real estate sales in a decade in Okanagan, Kamloops
In terms of prices, the provincial average home price rose by 6.5% to $965,447 in December versus a year ago.
Kamloops prices climbed by 12.2% to $605,506 in December while the Okanagan’s average price of $774,752 was up 9.1% from a year earlier.
The real estate association didn’t break down the sales and price activity for the year as a whole by region, but sales for all of BC were at a 10 year-low at 73,109.
READ MORE: Home sales expected to rebound as rate cuts begin in 2024
That’s similar to the decade-low sales volumes reported earlier in Kamloops and the Central Okanagan.
Despite the year-over-year average price increase in December, the average annual price was down 2.6%.
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