File Photo (Image Credit: CFJC Today)

By James Peters

Real Estate

Kamloops home sales bounce back in June, prices up sharply

Jul 3, 2020 | 2:38 PM

KAMLOOPS — The Kamloops real estate sector bucked the trend of slower sales last month, but prices were up markedly.

In a news release, the Kamloops and District Real Estate Association (KADREA) says 291 residential units changed hands in the region last month. That’s up 8.2 per cent from June of 2019.

The average sales price in the area was more than $456,000, a jump of almost 10 per cent from the same month last year.

The COVID-19 pandemic has dealt a huge blow to real estate sales so far in 2020, but KADREA President Wendy Runge says agents have adapted their business practices and that has made a big difference.

“The sales in June signify that if we keep doing what we are doing, the impact of the pandemic on the real estate markets could be softened through the rest of the year,” said Runge in a news release.

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Runge cautions, because sales numbers were slow in April and May, the improvement in June could just be the release of some pent-up activity from earlier months.

“I would call this a ‘muted recovery’ in the market,” said Runge. “But this also means that things are improving, and better days are ahead.”