I thought I should follow-up the sales data from my last column with some history, starting back in 2021, to see how we got to where we are inthe current real estate market.

The housing markets in Kamloops and the Okanagan region, including Kelowna, transitioned from tight sellers’ markets in 2021 to buyer-friendly conditions by the first quarter of 2025, according to Canadian Real Estate Association data.

Below, I analyze year-over-year changes in inventory ratios (months of inventory), average sale prices, and average days on market for detached, semi-detached, townhouses, apartment, and manufactured homes, highlighting market trends from 2021 to the first quarter of 2025.

2021: Peak prices, tight inventory

Kamloops:

• Inventory: Low, 1.60 townhouses to 4.50 manufactured, detached at 2.49.

• Average sale prices: Detached: $667,772, semi-detached: $500,991, townhouses: $474,090, apartments: $339,204 and manufactured homes: $201,521.

• Average DOM: Detached: 42.97, semi-detached: 42.99, townhouses: 35.30, apartments: 57.35 and manufactured homes: 49.07.

Okanagan:

• Inventory: Tight, 1.76 townhouses to 2.66 detached.

• Average sale prices: Detached: $917,614, semi-detached: $633,866, townhouses: $563,270, apartments: $421,212 and manufactured homes: $241,816.

• Average DOM: Detached: 41.71, semi-detached: 40.15, townhouses: 41.98, apartments: 46.88 and manufactured homes: 52.46.

2022: Price peaks, inventory........

© Castanet