In April, residential real estate activity in the Interior surged with 1,282 unit sales across the region, a significant uptick from March and almost matching the figures from April 2023. New listings saw an increase of 34.3%, totaling 3,409 compared to April 2023. Total inventory spiked by 41.6%, reaching 8,838 listings across the region, with the Shuswap/Revelstoke region experiencing the highest percentage increase at 58.5% compared to April 2023. The rise in listings is welcomed news for buyers, offering more options after years of inventory shortages.
Year-over-year benchmark prices for single-family homes declined in the Central Okanagan, North Okanagan, and Shuswap/Revelstoke regions, while the South Okanagan region experienced a 1% increase, reaching $758,000. Benchmark prices for townhomes decreased across all regions, with South Okanagan registering the highest percentage decrease, settling at $509,100. Similarly, in the condominium housing category, all regions except the South Okanagan witnessed declines in benchmark prices compared to the previous year.
Kamloops and District region also experienced growth, with 218 unit sales and 559 new listings. Prices rose modestly across housing categories, with single-family homes and townhouses seeing 6.2% and 3.5% increases, respectively. Condo prices rose by 1.2% year-over-year.
