File photo (Image credit: CFJC Today).

By Aaron Schulze

Real Estate

New listings and sales up, average price of single-family Kamloops home slightly down in August

Sep 13, 2023 | 8:47 AM

KAMLOOPS — New listings and sales are up year-over-year in the Kamloops and area real estate market, while the benchmark price is slightly down.

According to new statistics provided by the Association of Interior Realtors (AIR), there were 216 residential unit sales recorded within the Kamloops and District region in August, down from 237 in July but up 17.4 per cent from August 2022 (see chart below).

“For the fourth month in a row, the Kamloops and District sales activity outperformed the previous year’s activity for the month,” Chelsea Mann, AIR president, says. “Inventory has not seen this same upwards trajectory but more of a sideways trend despite being slightly up compared this time last year this time. It will be interesting to see if active listings pick up momentum in the coming months.”

Additionally, AIR says there were 439 new Kamloops and District listings recorded in August, an increase of 10.6 per cent compared to the same month last year, although it is slightly down from 450 new listings in July.

As of publication, AIR says there are 1,115 active listings in Kamloops and area, an increase of 5.8 per cent compared to August 2022.

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However, the new listings and higher inventory have not drastically knocked the benchmark prices year-over-year. The average price of a single-family home and townhome is $676,800 and $550,300 respectively, down by 0.5 per cent in August 2022.