Kamloops real estate sales drop again, but prices rise in September

Oct 4, 2021 | 4:05 PM

KAMLOOPS — The Kamloops and District Real Estate Association (KADREA) says real estate sales fell again in September 2021 compared to the same time last year, but it’s gearing up for a strong final quarter.

According to KADREA’s monthly stats, 296 residential unit sales were in September, which is 14.2 per cent below the 345 sales recorded in September 2020.

However, the average residential price in the KADREA area saw a 12.3 per cent increase, going from $529,582 in September 2020 to $595,247 one year later. Total sales dollar volume in September stood at nearly $134 million, a 1.2 per cent fall from 2020, which was around $135 million.

There were 384 new listings recorded last month and there are 896 active listings in the KADREA area as of Oct. 3, 2021.

“Although the number of sales has come down, we are still experiencing multiple offers scenarios due to the extreme lack in inventory,” KADREA President Chelsea Mann states. “I’m confident that demand for properties will continue to remain high in the coming months as well… We can’t deny that COVID-19 may still be restricting sellers from listing their homes at the moment as well, but hopefully this is something that will address itself in due time. As I’ve mentioned before, inventory will continue to be an issue in the region for at least the next year.”