Kamloops sees a 4.6% decrease in benchmark single family homes prices.
Within the Kamloops and District region, there were 237 residential unit sales recorded last month, down from the 280 recorded in June 2023, yet up from July 2022’s unit sales with a 15% increase. There were 450 new listings recorded in July in the Kamloops and District region, which was a decrease of 6.1% compared to the same month last year, and down from June 2023’s 489 new listings.
Overall inventory, or active listings, saw a modest increase of 1.7% for another consecutive month compared to July 2022, coming in at 1,075. The benchmark price, a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes”, saw decreases in the single-family and townhome categories with single-family home benchmark price dropping 4.6% to $672,900 and townhome benchmark price down 1.4% to $544,000, compared to June 2022.
The benchmark price for condominiums increased 3.0% in year-over-year comparison, coming in at $402,600. July and August are seasonally some of the slower months for listings and sales so it will be interesting to see how the listing and sales numbers look for September and October.
Posted by Andrew Karpiak on
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