By Greg Fry

Kamloops home sales up year-over-year in February

Mar 1, 2018 | 2:39 PM

KAMLOOPS — February was another strong month for real estate in Kamloops.

The Kamloops and District Real Estate Association (KDREA) has released new statistics showing there were 196 homes sales last month for a total dollar value of just over $73.7 million versus February 2017 when 192 units sold at a dollar value of just over $67 million.

Region wide, Sun Peaks led the way for the second consecutive month with 20 sales, with South Kamloops second at 17. 

The median sale price for the region was $415,000, up from $409,000 in January.

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Outgoing KDREA President Cyndi Crossley attributes the strong market to supply and demand and inventory.

“We had the same problem last year. Our inventory is very low and it’s forecasted to stay low. For instance, at this time last year we had 1130 listings on the market. This year we have 895. About a 20 per cent drop,” she says.

“So buyers need to make up their minds a little faster, there’s just not as much to choose out there and so the sellers have the opportunity to sell a little quicker depending on their price and maybe have the encouragement of having multiple offer situations.”