December, traditionally a month filled with holiday celebrations and a natural slowdown in many activities, brought some encouraging trends to the residential real estate market. Despite the seasonal lull, the Association of Interior REALTORS®^has shared a positive outlook for 2025, with December’s residential real estate sales hinting at a potentially stabilizing market. Seasonal activity played a key role in shaping the month’s performance, reflecting patterns typical for this time of year.
Residential Home Sales
A total of 716 residential unit sales* were recorded across the Association region in December, coming in below November’s 994 units and up 30.7% compared to December 2023’s units sold.
Inventory
New residential listings saw an increase of 7.9% compared to December 2023 with 928 new listings recorded last month. The total number of active listings saw a 14.1% increase of total inventory compared to December 2023 with 6,721 recorded across the Association region. The highest percentage increase in active listings across the Association region was in the Kamloops and District region with a total increase of 23.4% compared to December 2023.
Home Sales by Property Type
The benchmark price for single-family homes in December saw increases in all housing categories in year-over-year comparisons. Benchmark pricing in the townhome housing category saw decreases in the North Okanagan and Shuswap/Revelstoke regions compared to December 2023 while the Central and South Okanagan saw slight increases of 2.3% and 0.3%, coming in at $746,400 and $499,900 respectively. In the condominium housing category, all regions saw decreases in the benchmark price for December 2024 compared to the same month the previous year with the highest decrease of 9.2% seen in the South Okanagan region, coming in at $415,500.
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