Kamloops, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| 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
The real estate market in Kamloops, British Columbia, is currently experiencing a period of steady growth. With a median house price of $525,000 representing a 4% year-over-year increase, the market demonstrates resilience and a healthy demand for housing. Similarly, the median apartment price has reached $315,000, with a more modest growth rate of 2.5% year-over-year. This indicates a stable investment environment for both single-family homes and multi-unit residential properties.
The population of Kamloops stands at 15,300 and has been growing at an annual rate of 2%. This demographic expansion contributes to the sustained demand for housing, which in turn supports the continuous appreciation in property values within the city.
Investment Opportunities and Potential
The consistent growth in property values suggests that Kamloops offers promising investment opportunities. The current trends point towards a stable market where investors can expect reasonable capital gains over the long term. Single-family homes present strong potential due to their higher appreciation rate of 4%, while apartments are an attractive option for those looking for more affordable entry points into the real estate market.
Additionally, as the population continues to grow, rental demand is likely to increase, offering potential for solid rental yields on top of capital appreciation. Investors should also note that new developments and infrastructure projects within Kamloops could lead to localized spikes in property values and should monitor these areas closely.
Future Market Outlook
Looking ahead, the real estate market in Kamloops appears set for continued growth. The ongoing population increase will likely sustain demand for housing and could potentially accelerate if economic conditions remain favorable and employment opportunities expand.
Given the steady rise in median prices for both houses and apartments over the past year, future prospects for investors remain positive. However, it is important to remain aware of broader economic factors that may impact interest rates and lending conditions, as these can influence buyer affordability and ultimately affect market dynamics.
In summary, while no market is without risk, Kamloops presents as a solid choice for real estate investment with its consistent growth trends and positive future outlook underpinned by demographic expansion.
