March 2024 Market Statistics

Kamloops Residential Real Estate Market Listings Picking Up Steam

KAMLOOPS, B.C. – April 4th, 2024. Residential real estate market activity in March cooled during spring break and
Easter vacations, reports the Association of Interior REALTORS® (the Association). A total of 977 residential unit sales were recorded across the Association region in March coming in above February’s 810 units sold yet down 22% in sales compared to March 2023. “Despite a relatively strong start in March, sales activity tapered off about mid-way through as spring break and Easter plans likely had buyers and sellers preoccupied,” says the Association of Interior REALTORS® President Kaytee Sharun, adding that “it isn’t surprising given that March is typically a staggered month when it comes to market activity.”“Although seemingly lukewarm in terms of real estate transactions, it is a more normalized spring market, moving
at a more normal pace.”

New residential listings across the Association region saw a healthy increase of 20.3% compared to March 2023
with 3,086 new listings recorded last month. The total number of active listings saw an increase of 34.1% of total
inventory compared to March 2023 with 7,730 recorded across the Association region. The highest percentage
increase in active listings was in the South Okanagan for another consecutive month with a total increase of 56.1%
compared to March 2023.
Within the Kamloops and District region, there were 174 residential unit sales recorded last month, up from the
155 recorded in February and 24.7% above March 2023’s unit sales.
There were 455 new listings recorded in February in the Kamloops and District region, which was an increase of
15.2% compared to March 2023 and up from February’s 400 new listings. Overall inventory, or active listings, saw
an increase of 25.4% compared to March 2023, coming in at 1,063 listings.
“Active listings in the Kamloops and District region have steadily been picking up steam and are now around 2018-
2019 levels,” says Sharun. “With the lack of inventory plaguing the real estate market for months, this will be a
welcomed relief to buyers who are looking for more options.”
“The gradual ramp-up in listings should make for a busy summer season,” notes Sharun.
The benchmark price, a better representation of value compared to the average or median price as it represents a
dwelling of “typical attributes”, saw percentage increases in all housing categories compared to March 2023, with
the highest percentage increase represented in single-family home category with a 7% increase coming in at
$658,300. The benchmark price for townhomes and condominiums increased 3.7% and 0.2% respectively in yearover-year comparisons, coming in at $535,100 for townhomes and $388,500 for condominiums.