Interior BC Real Estate Market Shows Strong Recovery in December 2024
The Interior region of British Columbia demonstrated remarkable resilience in its real estate market at the close of 2024, with most areas showing significant year-over-year improvements in sales activity and steady price appreciation.
Regional Performance Highlights
The Central Okanagan continues to lead the market, with 251 units sold representing a substantial 41% increase compared to the previous year. The region's total dollar volume reached $205.3 million, highlighting strong buyer confidence in this market. Active listings stood at 2,282 properties, indicating healthy inventory levels for buyers to choose from.
Not far behind, Kamloops and District showed impressive growth with a 43.5% increase in sales activity, moving 132 units during the month. The region's dollar volume of $75.1 million reflects the robust demand in this market segment.
The South Okanagan region also performed exceptionally well, posting a 43.1% increase in sales activity with 83 units changing hands. The total dollar volume for this area reached $46.1 million, demonstrating sustained market strength.
Market Dynamics by Property Type
The data reveals interesting trends across different property types:
- Single-family homes continue to command premium prices, with benchmark prices reaching over $1 million in some areas
- The condominium/apartment sector showed particularly strong activity, with several regions reporting significant increases in sales volume
- Townhouse markets remained stable, providing an important middle ground for buyers seeking alternatives to single-family homes
Looking Forward
With active listings up 14.1% across the total association area and new listings increasing by 7.9%, the market appears to be moving toward better balance while maintaining strong sales momentum. This combination of increased inventory and sustained buyer activity suggests a healthy market environment heading into 2025.
The total association numbers paint a picture of broad-based recovery, with 716 units sold representing a 30.7% increase over the previous year, and a total dollar volume of $473.5 million marking a 31.2% improvement.
For potential buyers and sellers in the Interior region, these statistics suggest a market that has found its footing and is showing strong signs of sustained growth across most segments and geographical areas.
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