File photo (Image credit: CFJC Today).

By Aaron Schulze

Real Estate

Slower August caps off cooler summer for Kamloops real estate market

Sep 9, 2024 | 6:30 AM

KAMLOOPS — Real estate sales activity in Kamloops and area over the summer did not heat up like the temperatures.

New numbers provided by the Association of Interior Realtors (AIR) show 192 residential units changed hands in the Kamloops and District region in August, down from 212 in July and down 14.3 per cent compared to the same month in 2023.

Active listings in the Kamloops real estate market marginally increased from 1,423 to 1,452 in August but it’s up 30.6 per cent compared to the same month in 2023.

The benchmark price for a single-family home in August sat at $664,300 – an increase of nearly $5,900 from July but a 1.6 per cent decrease year-over-year.

“Much like other markets in the province, Kamloops and District real estate sales experienced a quieter than anticipated month of activity, that with low sales activity the region may potentially see some relief to a chronic lack of healthy inventory levels to meet the demand of the area,” Kaytee Sharun, AIR president states.

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Additionally, condominiums in the Kamloops area sit at $376,900 – a decreased of nearly $9,300 fromy July and a 2.9 per cent decrease year-over-year. Townhomes slightly rose from $526,300 in July to $528,800 in August but are down 2.1 per cent year-over-year.