Association of Interior REALTORS® - Kamloops branch

Residential real estate sales in March maintained a steady pace, supported by healthy inventory levels, reports the Association of Interior REALTORS® (the Association).

A total of 1,143 residential unit sales were recorded across the Association region in March, coming in above February’s 914 units and up 11.9% compared to units sold in March last year.

New residential listings saw a moderate increase of 3% compared to March 2024 with 3,214 new listings recorded last month. The total number of active listings saw an 8.3% increase in total inventory compared to March 2024 with 8,374 recorded across the Association region. The highest percentage increase in active listings across the Association region for a second consecutive month was in Central Okanagan with a total increase of 14.3% compared to the same month last year.

“While market activity may have felt somewhat subdued across the region compared to previous years, we still saw the typical seasonal uptick that usually comes as we head into the busy spring market,” says the Association of Interior REALTORS® President Kaytee Sharun, adding “while the broader economic uncertainty surrounding tariffs may be contributing to an atmosphere of hesitation, home sales and inventory levels are maintaining a healthy pace, as demand and the need for housing remain strong."

Within the Kamloops and District region, there were 185 residential unit sales recorded last month, up from the 159 recorded in February, yet down 5.6% compared to March 2024’s unit sales.

There were 476 new listings recorded last month in the Kamloops and District region, which was an increase of 6.7% compared to March 2024 and up from February’s 336 new listings. Overall inventory, or active listings, saw an increase of 7.2% in year-over-year comparison, coming in at 1,140 listings.

"The Kamloops and District real estate market is gaining momentum as we move into the typically active spring season," says Sharun adding that “homes that are priced in line with current market conditions continue to sell at a steady pace.”

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 decreases of 4.2% and 0.3% in the townhome and condominium housing categories compared to March 2024, coming in at $507,700 and $378,800 respectively. The benchmark price for single-family homes saw an increase of 0.2% in year-over-year comparison coming in at $667,800.

Given the high stakes on such a significant financial transaction, home sellers and buyers can benefit from the knowledge and skills of a practiced REALTOR®. Contact your local REALTOR® to find out more about the real estate market and how they can help you achieve your real estate goals.