| Sun Peaks Real Estate Trends & Insights – January Stats |
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| February has arrived with that classic mid-season energy in Sun Peaks. The days are getting a little longer, the village is buzzing with events, and the mountain continues to deliver those crisp, clear ski days that make winter here unforgettable. Family Day weekend, Valentine’s celebrations, and a full calendar of community events are keeping the resort lively both on and off the slopes. As we move through one of the most active stretches of the season, it’s a great time to check in on the local market. Here’s your February update with the latest insights on Sun Peaks real estate and what to watch as we head toward spring. Inventory Edges Lower in January Housing inventory in Sun Peaks eased slightly in January, decreasing 3.0% to 96 properties available for sale. Based on an average of seven sales per month over the past year, this places the market at approximately 13.4 months of supply. While inventory remains elevated, the modest monthly decline suggests some tightening as winter progresses, even within what continues to be a more balanced-to-slower market environment. Prices Adjust as Buyer Focus Shifts Average sale prices moved lower in January, coming in at $443,183 compared to $670,778 in January 2025. This decline reflects the specific mix of properties that sold during the month, with activity concentrated in lower price ranges rather than signalling broad market weakness. Buyers continue to prioritize value and opportunity, particularly in a season known for lifestyle-driven purchases. Market Time Lengthens Slightly Homes that sold in January spent an average of 156 days on market, about 12 days longer than the same time last year. This modest increase points to a more deliberate pace, where pricing strategy and presentation remain key to attracting serious buyer interest. Sales Ratios Improve Despite Lower Volume New listings slowed in January, with 13 properties coming to market, down from 30 last year. Sales also dipped to six transactions compared to nine a year ago. However, the list-to-sold ratio improved to 46.2%, up significantly from 30.0% last January. This suggests that while overall activity was quieter, a higher proportion of listed properties successfully found buyers, helping place downward pressure on future months of supply. Looking Ahead With winter well underway and bluebird ski days continuing to draw visitors to the resort, buyer interest remains present, particularly among lifestyle purchasers. Reduced new listings and improving sales ratios may help stabilize inventory levels in the months ahead. Sellers who price strategically and highlight year-round value are well positioned, while buyers may still find opportunities in a market that rewards patience and preparation. Property Pricing Overview (Average Listing Price): Detached Homes: $2,349,667 Townhomes: $1,392,726 Half Duplex: $1,229,900 Condos: $865,173 Condo-Hotels: $195,667 Vacant Lots: $603,433 |
**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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| Interest Rate Outlook Still Unclear The Bank of Canada has signaled that the outlook for interest rates is increasingly uncertain amid global volatility and domestic economic risks (bnnbloomberg.ca). While some mortgage analysts anticipate the possibility of gradual rate cuts later in 2026, forecasts vary widely depending on inflation trends and economic growth (truenorthmortgage.ca). Borrowing costs remain one of the most significant influences on buyer activity and overall market confidence. Supply Growth Reshapes National Trends A rise in new listings across several Canadian markets is helping ease price pressures, with some regions continuing to experience modest downward adjustments as supply outpaces demand (rbc.com). The latest CREA statistics show national home sales declined 5.8% month-over-month in January, while new listings increased roughly 7%, pushing inventory levels closer to five months of supply, near long-term balanced averages (creastats.crea.ca). National housing forecasts suggest that improved inventory levels could support more stable conditions through 2026 (cmhc-schl.gc.ca). Analysts note that outcomes will likely differ by province, with local economic fundamentals playing a larger role in performance (td.com). B.C. Forecast Points to Gradual Stability In British Columbia, market projections indicate the potential for modest improvement in sales activity later this year, while average prices are expected to remain relatively stable (bcrea.bc.ca). As always, performance is likely to vary between urban centres and lifestyle-driven regions, reinforcing the importance of local market insight. |
| Foreign Buyers Ban Update |
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| The federal foreign buyers ban remains in effect until January 1, 2027. In the meantime, active advocacy efforts are underway to see this restriction lifted sooner. Our Mayor, Sun Peaks Resort Corporation, and several prominent individuals with a strong vested interest in the long-term health of Sun Peaks have been lobbying federal decision-makers to reconsider the current timeline. While no formal changes have been announced, momentum appears to be building, and we remain hopeful that further clarity will be provided in the coming weeks. If the ban is amended or lifted ahead of schedule, it would allow real estate transactions with non-residents to resume and could positively influence market activity. We will continue to monitor developments closely and provide updates as more information becomes available. |