Market Update April 2024

We just finished March, and in March in the hundred mile area as a whole, we sold 21 houses. That is up actually quite a bit from March of last year, which is only 13. On the barrel land side of things, we sold seven properties this year and six properties last year, so that one was pretty equivalent.

I'll share my screen here and we can look at all of the different statistics. So here you can see what we sold in March on the residential side with the most expensive one being a waterfront out at Canim and all the way down to a mobile on Park Drive. On the land side, we had this very large piece of property actually out on Houseman Road. I never got to see it, but it looked lovely with lots of hay fields. It's sold at 510. And a little property at Becca for 82,000.

We get into the Stats Center, here we're looking at what the active listings are. So I've got this pulled up. This light green line is your hundred mile house. The darker green is Bridge Lake/Sheridan and Deka/Sulphurous is the purple. You can see this goes back all the way to 2005 and we're looking at the rolling 12 month average of active listings. So we're not doing too terribly for active listings. They're low, sort of compared to the average. Our sales are sort of creeping along. They're not terribly slow either. The average sales price, interestingly, is creeping up but very gently and that's going on across the province and most centers.

We're seeing Brendan Ogmundson had reported from the BCREA that it's pretty well across the province. Kamloops actually did really well year over year last year, but we were seeing just small, like 1-2% increases in our averages. Days on market, which is a leading indicator of what the market's going to do. That's a noisy graph. But see, you can barely see that line. Let me take this out and that out. There you go, there's your days on market. So not terrible. We are sitting around 55. That's two months, two months marketing time isn't a terrible place to be, but when we look at the yearly cycle, yearly cycle is the same, where at this time of year the listings start to come on pretty heavy and the listing inventory usually peaks at the mid-July, mid-June, sorry, timeframe. And the buyers come out in the same timeframe. So we see that May timeframe has lots of buyers, lots of buyer competition, and also the most sales, but the most listings as well. So, there's a little look at what we're doing right now in the a hundred mile area, in the Interlakes and Deka Lakes areas. If you guys have any specific questions about timing the market, gimme a call.

My name's Amanda Oldfield, and as as always, I'm here to help. Have a great day, guys. Happy Easter.

📱250-318-5202

📧amandaoldfield@gmail.com