Image Credit: CFJC Today / File

By Dave Barry

Real Estate Figures

Kamloops real estate sales continue to grow through summer

Sep 3, 2020 | 5:25 PM

KAMLOOPS – Kamloops realtors seem to be making up for lost time as real estate sales figures continued to rise through the final month of summer.

Figures released by the Kamloops and District Real Estate Association (KADREA) show a 33 per cent rise in residential unit sales in 2020 when compared to August 2019. In addition, the average sale price jumped nearly 9 per cent.

“The pandemic has shown us some strange market behaviour this year,” said KADREA president Wendy Runge. “While we were prepared for a slow summer, sales in the region tell a different story.”

There were just 427 real estate transactions in March, April and May, a period that saw the economy shut down to deal with the COVID-19 pandemic. However the last three months, have seen an explosion in sales with 963 real estate deals.

Over the course of the first 8 months of 2020, overall sales are down 12 per cent, largely because of the pandemic. But despite the drop, the average sale price in Kamloops has grown nearly $27,000, rising from $442,169 to $468,962.

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“With continued high demand for single-family homes expected, higher average prices in the region are anticipated,” said Runge. She added, “this very well goes to show that people continue to buy homes with full confidence in the Kamloops region.”

Data source: Kamloops & District Real Estate Association

Data source: Kamloops & District Real Estate Association