Residential real estate sales for the month of September in the region saw a similar slowing down as all other markets in the province, reports the Association of Interior REALTORS® (the Association). A total of 1,084 residential unit sales were recorded across the Kamloops region in September, down 37.3% compared to the number of units sold during September 2021.  

“We are seeing that the Bank of Canada's interest rate tightening in the last few months is keeping some buyers on the sidelines although demand remains strong,” says the Association of Interior REALTORS® President Lyndi Cruickshank, adding “with no mortgage rate relief anticipated any time soon, some potential homeowners are constrained from being able to enter the real estate market.” 

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Kamloops and region saw a total of 165 residential unit sales for August 2022, which was down from July 2022 at 194 sales. This was a whopping 42.5% decrease from August 2021.

Interestingly the Benchmark price saw double-digit increases across all home categories in the Kamloops area compared to the same month last year. From a listings standpoint, there were 391 new listings added in August, which was a marginal increase of 3.2% compared to the same time last year, yet 18.5% less than July's 480 new listings.

This could be attributed to the fact that more people are on vacation in the month of August before the start of school. In total, we have seen a 126.9% increase in active listings compared to August of 2021, which should be driving the…

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The market stats for the Kamloops area slid in July down to pre-pandemic levels. This isn't necessarily a bad thing, as 2019 was a pretty good market for buying and selling real estate. The total number of residential unit sales was down 33.3% over July of 2021 (the peak). This is a large decrease, but there are a number of factors to consider leading to the drop.  

Mortgage rates have jumped up and lenders are struggling to process mortgages like they were 6 months ago, summer months are typically slower times of year for sales across all markets in BC and more people are trying to get out and have a vacation so all of these factors are definitely leading to a drop in sales activity.

We are shifting to a more balanced, if not "Buyer"…

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Did the other shoe drop on real estate sales in Kamloops for the month of June? Not really. There was a total of 1446 residential unit sales across the entire region which represents a 30.3% decrease compared with the number of units sold in June of 2021. I anticipated an increase in listings and that held true at a 15.2% increase over the same time period last year in the Kamloops market. 

The biggest number is that overall inventory saw a 101.2% injection compared to June of 2021. When you have more inventory buyers feel less panicked to purchase a home that perhaps they really don't want/need. The market is shifting to a more balanced position allowing buyers to be more selective.  The challenge moving forward is managing sellers' expectations…

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Welcome to a more balanced real estate market, I didn't think I would be able to say that for quite some time. For the month of May 2022, the entire region saw 1,687 residential sales recorded which represents a 24.9% decrease compared to the busy month of May 2021. Kamloops specifically saw a decrease of 33.6% compared to the same time last year. 

The Association of Interior Realtors noted that there were 553 new listings added in May 2022 in the Kamloops and District region, which was an increase of 9.7% compared to May 2021. The average prices across all home categories showed percentage increases compared to the same time last year with the highest percentage increase being in the single-family category, up 22% coming in at $820,990. (this…

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The Kamloops and area Real Estate stats are officially out for the month of March 2022 with 326 residential unit sales recorded, a 15% decline compared to the same time last year. The average prices across all home categories showed double-digit percentage increases compared to the same time last year with the highest percentage increase being in the single-family home category.

There were 510 new listings added in March 2022 in the Kamloops & district region, which was an increase of 15% compared to March of last year. Overall inventory or active listings saw an 84% upswing compared to the same period last year coming in at 943 listings for the region. This is an addition of 500 listings for the first time since the real estate market started its…

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The Kamloops and District Real Estate Association (KADREA) which has now merged with the Kootenay and Interior Realtors Association to form "The New Association of Interior Realtors" reports that a total of 185 residential unit sales were recorded by the Kamloops & District Multiple Listing Service® (MLS®) in January 2022.

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This is 25.7% below January 2021 of 249 sales. The average MLS® residential price in the area was $664,969, up by approx. 34.8% from the same month last year. There were 306 new listings recorded by the Kamloops MLS® last month and there are 768 active listings in the Kamloops & district region, as of February 03, 2022.
As the numbers indicate the Kamloops and Area real estate market is still…

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Kamloops Real Estate Stats: December 2021 vs. December 2020

For the month of December 2021 there were152 residential unit sales recorded by the Kamloops & District Multiple Listing Service® (MLS®) in December 2021. This represents a 34.7% decrease over the numbers that were recorded in December 2020, at 233.
The average residential sales price was $663,774, up by approx. 33 per cent from $501,465 recorded in the same month last year. There were 113 new listings recorded by the Kamloops MLS® last month and there are 714 active listings in the Kamloops & district region, as of January 04, 2021.

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The average residential sales price of $663,774.00 will likely stay over the $600K mark for the months ahead. This does…

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Kamloops Real Estate Stats: November 2021 vs. November 2020

November was another very strong market for the Kamloops area. On the single-family side, we saw an increase in units sold of 5.9% from the same month a year ago and a total of 24.5% increase year to date. The average price for single-family homes across the market was up 20% to $713,326.00. This is a huge increase. We are 24% year to date higher than last year. One of the most interesting numbers to look at is the fact that our total year to date residential sales is up 57% to $1.965 BILLION. That's Billion with a capital B. 

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With the closure of all major highways to non-essential vehicular travel to the coast I anticipated a slow down in sales volumes but it…

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Kamloops Real Estate Market Stats: October 2021

The KADREA market stats for the month of October show another strong month in the single-family and multi-family sales markets but we did see a substantial reduction in single-family units sold. For the month of October, there were 189 single-family homes sold, down 16% from the same month last year.

For the same time period, we had an increase in listings so this shows that there is some pressure on sales the higher the asking price climbs. The average sales price for October was$619,265.00 which is a whopping 33% increase from the same month last year. 

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High consumer demand continues to drive sales but it's the supply that's holding the entire market back. This is leading…

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