File photo (Image credit: CFJC Today).

By Aaron Schulze

Real Estate

Active listings up, benchmark prices down in Kamloops real estate market leaving 2024

Jan 7, 2025 | 8:37 AM

KAMLOOPS — The Kamloops real estate market exited 2024 with more inventory than the previous year.

New numbers provided by the Association of Interior Realtors (AIR) show 913 active listings in the Kamloops and District region as of December 2024, a 23.4 per cent increase year-over-year.

Within the Kamloops real estate market, 132 residential units changed hands in December. It’s down from the 177 sales in November but up 43.5 per cent year-over-year.

Additionally, the Kamloops market saw 151 new listings in December, up 11.9 per cent year-over-year. However, it’s nearly half of the 268 new listings recorded in November.

“Inventory in the Kamloops and District region is healthier than it’s been in quite some time suggesting a return to more balanced market conditions in the coming months,” AIR President Kaytee Sharun states. “Sales momentum in the last quarter of the year helped bolster the overall real estate activity in the region, making up for some of the slower months seen earlier in the year.”

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As of December, the benchmark prices for single-family homes, townhouses and condominiums decreased from the cost in November and year-over-year.

The average price for a townhouse in Kamloops sits at $507,300 – down from $529,500 in November and down $521,200 from the same month in 2023.

The average condominium in Kamloops sits at $349,100 in December – down from nearly $365,600 in November and $375,500 in the same month in 2023.

Single family homes in Kamloops saw the most marginal decrease in December, sitting at $648,100 – down from $655,600 in November and $650,000 at the end of 2023.