| Sun Peaks Real Estate Trends & Insights – May Stats |
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| The summer season has officially begun in Sun Peaks, with the chairlifts now open for hiking, mountain biking, and sightseeing. Opening weekend brought plenty of activity to the resort as visitors returned to enjoy the trails, village amenities, and mountain views. The first Market Day of the season also kicked off this past weekend, marking the return of one of Sun Peaks’ favourite summer traditions. With events, activities, and outdoor recreation back for another season, the resort is settling into its summer rhythm. With summer now in full swing, it’s a great time to check in on the local real estate market. Here’s your latest update on Sun Peaks real estate and what we’re seeing as the season gets underway. Inventory Continues to Decline Housing inventory in Sun Peaks continued to trend lower in May, down 14.1% to 67 properties available for sale. With an average of six sales per month over the past year, the market now sits at approximately 10.7 months of supply. While inventory remains above balanced market levels, available listings have steadily decreased over recent months. Average Prices Move Lower Average sale prices came in at $786,333 in May, down from $1,040,200 at the same time last year. As with many small resort markets, monthly price fluctuations can be influenced by the mix of properties sold rather than a broad change in overall values. Homes Taking Longer to Sell Properties sold in May spent an average of 122 days on market, roughly 53 days longer than last year. This suggests buyers are continuing to take their time, with pricing and property type playing an important role in attracting offers. Sales Activity Slows Twelve new listings came to market in May, down slightly from 14 a year ago, while three properties sold compared to eight last May. This brought the list-to-sold ratio to 25.0%, down from 57.1% last year, reflecting slower sales activity during the month. Market Outlook With inventory continuing to trend lower and new listings remaining limited, overall supply remains on a gradual downward path. While buyers continue to have choices, activity may remain selective as the market moves into the summer season. Property Pricing Overview (Average Listing Price): Detached Homes: $2,258,733 Townhomes: $1,550,458 Half Duplex: $1,118,425 Condos: $875,587 Condo-Hotels: $187,870 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 Hold Steady as Policy Outlook Stays Cautious The Bank of Canada held its policy rate steady in June, noting continued global uncertainty and mixed domestic economic signals, keeping the outlook for future rate changes relatively cautious (bankofcanada.ca). Borrowing costs remain a key factor influencing affordability and buyer decision-making across the housing market. National Housing Market Continues to Lag Typical Spring Momentum Canada’s housing market has seen softer-than-typical spring conditions, with overall activity remaining below expectations for this time of year (rbc.com). Although momentum has been uneven, some reports suggest buyer and seller activity is gradually adjusting to current pricing and rate conditions (ctvnews.ca). B.C. Market Faces Slower Sales Conditions Home sales across British Columbia declined in May compared to the same period last year, reflecting continued softness in demand (cbc.ca). Higher mortgage rates and ongoing economic pressure have contributed to slower transaction levels across many regions of the province (bnnbloomberg.ca). Kamloops Shows Steady Seasonal Uptick In Kamloops, sales activity increased in May compared to earlier spring levels, showing a modest rise in local market momentum heading into summer (cfjctoday.com). This contrasts with broader provincial conditions and highlights continued variation between regional markets. |