2025 Market Snapshot: The Numbers Across Canada, there were 470,313 residential sales in 2025, representing a 1.9% decline compared to 2024. In British Columbia, we recorded 70,233 residential transactions, down 5.7% year over year, reflecting a more cautious market environment provincially. Kamloops, however, told a slightly different story. The market recorded 2,391 residential transactions—only eight fewer than 2024, and 52 more than 2023. In other words, our local market remained remarkably stable relative to broader provincial trends. From a pricing standpoint: Canada’s average sale price in 2025: $673,335 BC’s average sale price: $964,371 Kamloops’ average sale price: approximately $800,000, with a benchmark price of $664,600, closely aligned with the national average Homes in Kamloops sold for an average of 97.7% of asking price and spent about 47 days on market throughout the year. As we begin 2026, there are currently 1,477 residential properties active across our district, including 739 listings within Kamloops city limits. Of those, 235 are single-family detached homes. Understanding the Hesitation Many British Columbians are now becoming familiar with legislation and concepts that weren’t part of everyday conversation even a year ago: Reconcilliation, DRIPA, Land Claims Ongoing land claims and reconciliation discussions At the provincial level, there is a growing perception among tax-paying residents that legislation has moved faster than communication and clarity. That perception—fair or not—has influenced confidence across real estate, development, and investment sectors. We’ve also seen isolated examples where private landowners faced complex and costly processes after discoveries on their own properties. While these cases are not widespread, they raise concerns about precedent and due process, which amplifies uncertainty. The 2026 Outlook: Two Parts According to the Canadian Real Estate Association, national residential sales are expected to rise 5.1% in 2026, driven by pent-up demand and lower interest rates. However, much of that growth is forecasted for provinces such as Quebec, Saskatchewan, and Alberta, where sales are projected to increase between 5% and 8%. For British Columbia, CREA projects a more modest 1.9% increase in unit sales and a 2.3% increase in average sale price. BC Real Estate Association, has offered a bolder outlook, forecasting a 12.8% increase in unit sales as buyers re-engage with the market. My own outlook for 2026 I believe the first part of 2026 will remain cautious as buyers and sellers wait for clearer direction—particularly around the appeal process following recent court decisions and how DRIPA will ultimately be interpreted in practice. The Opportunity Importantly, there is no hard data showing that Kamloops housing prices are declining due to land-claim discussions. Sales volume may be softer, but that is consistent with uncertainty—not a market collapse. For clients who are both selling and buying, the risk is extremely limited. Even modest price softening can create stronger buying opportunities on the next purchase. For those exiting the market entirely, it means staying informed and strategic. Thus far, prices and activity levels have not shifted meaningfully from where they were since, March 2025. Kamloops recorded 2,391 residential sales in 2025, consistent with post-COVID annual norms. My expectation for 2026 is roughly 2,400 sales once again, with the year starting slowly and gaining momentum once one of two things happens: Greater clarity is provided around DRIPA and land-claim implications, or There is a change in provincial leadership or policy direction that restores broader market confidence.
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30 min
Aug 8 202538 min