| Sun Peaks Real Estate Trends & Insights – April Stats |
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| Summer is starting to take shape in Sun Peaks as the village begins its transition out of the quieter shoulder season. The golf course is now open, snow has mostly melted, and signs of summer are starting to return across the resort. While things are still relatively calm around the village, anticipation is building for the warmer months ahead. Hiking and biking season officially kicks off June 13 when the chairlifts begin spinning for summer operations, bringing the trails and mountain back to life. As Sun Peaks shifts into its next season, it’s a great time to check in on the local market. Here’s your latest update with insights into Sun Peaks real estate and what to watch heading into summer. Inventory Levels Continue to Ease Housing inventory in Sun Peaks continued to decline in April, down 15.4% to 88 properties available for sale. Based on an average of seven sales per month over the past year, the market currently sits at approximately 12.6 months of supply. While inventory remains higher than balanced market levels, the trend continues to move downward. Sale Prices Trend Lower Average sale prices dipped to $259,269 in April compared to $990,667 at the same time last year. This large change is likely due to the types of properties sold during the month, with more lower-priced units making up a larger share of sales activity. Properties Selling Faster Properties sold in April spent an average of 131 days on market, about 32 days fewer than last year. This suggests buyers are still active for well-priced listings, even as overall market conditions remain steady. Sales Ratio Improves New listings slowed to eight in April, down from 20 a year ago, while six properties sold, matching last year’s total. This increased the list-to-sold ratio to 75%, up notably from 30% last April, showing stronger absorption despite fewer listings entering the market. Market Outlook With inventory continuing to tighten and fewer new listings coming online, supply could remain limited heading into the summer season. Buyers are still taking a measured approach, but desirable and well-priced properties continue to attract attention. Property Pricing Overview (Average Listing Price): Detached Homes: $2,432,100 Townhomes: $1,601,118 Half Duplex: $1,128,233 Condos: $860,944 Condo-Hotels: $215,807 Vacant Lots: $598,956 |
**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 Rates Continue to Influence Buyer Activity Financing remains a key factor in today’s market. Recent reports suggest higher mortgage rates earlier this year slowed some spring momentum, with many buyers continuing to take a more cautious approach (financialpost.com). Canadian Housing Market Showing Gradual Improvement Canada’s housing market saw both sales activity and inventory levels increase this spring, giving buyers more choice while keeping market conditions relatively balanced in many regions (crea.ca). Economic uncertainty and borrowing costs, however, continue to influence buyer confidence across the country (rbc.com). B.C. Market Conditions Continue to Balance Across British Columbia, housing forecasts point toward improving sales activity over the next few years as confidence gradually returns to the market (bcrea.bc.ca). At the same time, inventory levels have been increasing in many areas of the province, helping ease some of the supply pressure seen during previous market cycles (central1.com). Kamloops and Okanagan Activity Remains Stable Closer to home, the Kamloops market continues to see inventory gradually rise while overall sales activity remains relatively steady compared to earlier this year (interiorrealtors.ca). In the Okanagan, recent reporting points to stable market conditions and continued buyer interest despite broader economic uncertainty affecting other parts of Canada (businessexaminer.ca). |