Residential home prices continue to rise in Kamloops
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KAMLOOPS — The average price of a home in Kamloops is up 4.1 per cent from 2022 levels.
In October 2022, the average home in Kamloops was $592,617, one year later that price has risen to $616,934. The 4.1 per cent increase is the largest being reported in the Interior by the British Columbia Real Estate Association (BCREA).
“Home sales have slowed as expected given high borrowing costs and a punishing stress test,” said BCREA Chief Economist Brendon Ogmundson. “However, the inventory of homes for sale remains quite low, despite a modest uptick in new listings. Consequently, markets have found balance, though at a very low level of activity.”
More than 1,000 units were on the market in Kamloops in October, a 13.7 per cent increase from the 2022 mark.
