Here is your January 2025 Market Update!

Thinking about buying a home in Kamloops this year? You’re stepping into a dynamic market with opportunities across various property types. With an increase in new listings and a more balanced inventory, there’s no better time to explore what Kamloops has to offer. Whether you're looking for a cozy single-family home, a modern townhouse, or a budget-friendly apartment, understanding the current market trends can give you a significant edge. Let’s dive into what’s happening in the Kamloops real estate market and how you can make the most of it.

Market Highlights:

• 140 properties sold, marking a 13.8% increase from January 2024
• Total dollar volume reached $76.8 million, an 8.6% rise year-over-year
• Active listings rose by 19.6%, while new listings jumped 28.4%, reflecting increased inventory

Property Type Breakdown:

The Kamloops real estate market continues to offer exciting opportunities across various property types.

While single-family home sales saw a slight dip, the benchmark price remains resilient at $635,000, with a modest 2.4% decrease.

Townhouses are a standout, with sales up 5.3%, showcasing strong demand in this segment.

Condos and apartments are experiencing a surge in popularity, with sales skyrocketing by 71.4%, making them an attractive option for buyers. With softening prices across all categories, it's an excellent time for buyers to explore the market.

Neighborhood Trends:

Westsyde and Juniper Ridge saw strong growth in single-family home sales, with sales increasing by 20% and 100%, respectively.

Sun Peaks stood out in the apartment sector, with a 150% surge in sales, despite a small decline in benchmark prices.

South Kamloops remained active, particularly for apartments, which experienced a 25% sales increase, though benchmark prices dipped slightly.

Houses Sold in January

Key Takeaways:

The rise in listings suggests a more balanced market, offering opportunities for both buyers and sellers.
Condos and townhouses present attractive options, particularly for first-time buyers, given their increased affordability and availability.

With inventory on the rise and varied performance across property types, the Kamloops real estate market remains ever changing. Whether you're buying or selling, understanding these trends can help you make informed decisions in 2025.

Contact Parker for more information!