Kamloops, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Kamloops, British Columbia
In Kamloops, British Columbia, the real estate market has been experiencing steady growth. The median house price stands at $520,000, reflecting a year-over-year increase of 4%. This increment indicates a healthy demand for housing and a robust market that has been resilient in the face of various economic pressures. Additionally, the median apartment price is currently $310,000, with a slower growth rate of 1.9% over the past year. The more moderate increase in apartment prices could suggest a larger supply or less competitive pressure in this segment.
The city’s population has reached 15,500 residents and shows a strong growth pattern at a rate of 3.3%. This demographic expansion is likely contributing to the increased demand for housing in the region. With more people moving into Kamloops, there is potential for both the rental and buyer markets to remain active, sustaining the overall momentum in property values.
Investment Opportunities and Potential in Kamloops Real Estate
For potential investors, Kamloops presents several attractive opportunities. The consistent rise in median house prices at 4% suggests that investing in residential properties could yield profitable returns over time. The steady population growth further supports this notion by ensuring a continual influx of potential tenants or buyers.
Apartments offer a slightly different investment scenario with their lower year-over-year price increase of 1.9%. However, they may represent an accessible entry point into the real estate market for first-time investors or those looking for lower-risk investments. The growing population also points to a sustained or increasing demand for rental units, which bodes well for those interested in purchasing properties to rent out.
The current trends suggest that both residential homes and apartments are stable investment avenues but may cater to different investor profiles based on their respective growth rates and market dynamics.
Future Market Outlook for Kamloops Real Estate
The future outlook for Kamloops’ real estate market appears promising. The city’s continuous population growth serves as a fundamental driver for housing demand which is expected to support property values into the foreseeable future.
Given the consistent upward trend in house prices coupled with moderate yet positive gains for apartments, it is reasonable to anticipate that the market will maintain its upward trajectory albeit potentially at varying paces across different housing types.
As long as economic conditions remain favorable and population trends continue along their current path, Kamloops can be seen as an appealing location for both living and investing. Investors should monitor local developments closely, including any significant economic initiatives or infrastructure projects that might influence future market conditions.
In summary, Kamloops presents an environment where strategic real estate investment could be considered relatively secure with potential for solid returns over time. Vigilant observation of market indicators will be key in capitalizing on opportunities and navigating risks within this vibrant Canadian real estate landscape.
