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. 

kamloops real estate market statistics graph

High consumer demand continues to drive sales but it's the supply that's holding the entire market back. This is leading to constant upward pressure on the average prices and could be steering buyers to more affordable areas around the province. If the feds increase the prime interest rate to help keep inflation in check then we may see a reduction in the number of buyers attempting to get into the market.

For the foreseeable future, I do not see a slow down in the market or in the creeping up of the average sales price for the Kamloops market. 

Posted by Andrew Karpiak on
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