Karelyn Campbell

Cell: 250-618-8213 |

January 2020 Market Update

In January 2020, sales of single-family-homes dropped by 16% from one year ago, and 26% from the previous month. 


174 single-family-homes sold on the MLS compared to 208 the previous year. Inventory is tightening which is one of the factors impacting sales. Despite interest from buyers, the stress-test has reduced purchasing power and pushed many buyers to the sidelines. There is an increase in demand for mid- and lower-priced properties, but the lack of inventory is limiting many buyers ability to move forward with their home purchase.