File photo (Image credit: CFJC Today).

By Aaron Schulze

Kamloops Real Estate

Active listings up, condominium benchmark price down in Kamloops year-over-year in May

Jun 5, 2024 | 11:50 AM

KAMLOOPS — Sales, new listings and inventory continue to creep up in the Kamloops real estate market, with only the benchmark price of condominiums lowering year-over-year.

According to new statistics provided by the Association of Interior Realtors (AIR), the Kamloops and District region saw 251 residential unit sales in May 2024, up from the 218 sales the month prior. However, it’s down 12.5 per cent from the same month in 2023.

AIR reports 613 new listings were recorded in Kamloops and area in May, up 28.5 per cent year-over-year and up from 559 new listings in April. It all leads to inventory rising to 1,363 active listings, a 42.1 per cent year-over-year.

“Inventory has been slow to accrue but is now above pre-pandemic levels, which is great to see given market activity has also picked up. This will provide potential buyers with more options ahead of the busy summer market,” AIR President Kaytee Sharun states.

Despite the additional spike in inventory, the benchmark price for houses in Kamloops is up year-over-year. Single-family homes are up 2.9 per cent to $651,400 and townhomes are up 4.8 per cent to $539,100. However, those prices are down from $664,300 and $548,600 respectively in April.

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Condominiums are at $373,900 – a decrease of 3.3 per cent compared to May 2023.