| Sun Peaks Real Estate Trends & Insights |
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| Only a few weeks of summer remain, and what a beautiful season it has been here in Sun Peaks! From long sunny days to mountain adventures, it’s been the perfect backdrop for making memories. As we soak up the last of summer, here’s a look at what’s new in real estate. More Homes on the Market At the end of July, there were 100 properties available for sale, a 6% increase compared to the previous month. Over the past year, the area has averaged about 6 home sales per month, which means the current supply translates into more than 15 months of inventory. This indicates that buyers have more choices right now, and sellers may find the market a bit more competitive. Homes Selling Faster One positive trend for sellers is that homes are moving off the market more quickly. The average days on market fell to 68, down nearly 10 days compared to last year. This suggests that while overall sales volume is down, motivated buyers are acting faster once they find the right property. Fewer Sales Closed Sales activity, however, was slower this July. Only 3 homes sold, compared to 5 last year—a 40% decline. At the same time, new listings also dipped slightly, from 11 last year to 10 this year. This combination of slower sales and steady new listings is what’s causing inventory levels to build. What This Means Moving Forward With more homes available and fewer closing each month, the balance is tilting toward a market where buyers have the advantage. Sellers should be prepared for increased competition and may need to adjust expectations. Buyers, on the other hand, can take advantage of the broader selection and potentially more negotiating room as we move toward the fall season. Property Pricing Overview (Average Listing Price): Detached Homes: $2,332,640 Townhomes: $1,235,538 1/2 Duplex: $1,144,933 Condos: $781,750 Condo-Hotels: $200,638 Vacant Lots: $608,361 |
**Reports produced and compiled by RE STATS INC. Information is deemed reliable but not guaranteed. Does not reflect all market activity.
| What’s Happening in Canadian Real Estate |
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| National Market Gains Ground CREA reports that July marked the fourth consecutive monthly increase in national home sales—up 3.8% from June and 6.6% above July 2024. New listings held steady, keeping the market balanced (crea.ca, cbc.ca). RBC Economics still expects a 3.5% decline in sales for 2025 overall, before activity rebounds in 2026 (rbc.com). Rates on Hold, But for How Long? The Bank of Canada kept its policy rate unchanged in July, noting that inflation continues to ease but uncertainty remains. Officials signaled they are weighing rate cuts carefully and want more economic data before making a move (financialpost.com). Many economists remain divided on whether cuts will come later this year or in early 2026 (canadianmortgagetrends.com). Slower Pace, Steady Demand in B.C. B.C. has seen slower activity in 2025, particularly in the first half of the year. Housing starts in the province fell 14% compared to 2024, bucking the national trend of rising construction (mycariboonow.com). Locally, Kamloops experienced a sluggish summer market, though sales levels remain above last year’s pace (castanetkamloops.net). |