File photo (Image credit: CFJC Today).

By Aaron Schulze

Real Estate

Real estate activity in Kamloops continues to cool through autumn

Dec 5, 2024 | 7:10 AM

KAMLOOPS — Real estate activity in the Kamloops market dipped throughout the fall.

New numbers provided by the Association of Interior Realtors (AIR) show 217 residential units changed hands in the Kamloops and District region in October while 177 sales were recorded in November. However, the transactions in November were up six per cent compared to the same month in 2023 and matched sales in September 2024.

New listings declined month over month. AIR says 333 new listings were recorded in October while 268 were recorded in November, both down from 416 in September.

Overall, active listings sit at 1,120 as of November, down from 1,386 in September but up 5.4 per cent year-over-year.

“The Kamloops and District real estate market showed strong sales activity last month despite November typically exhibiting a deceleration as the holiday season approaches,” Kaytee Sharun, AIR president says. “While inventory is trending in the right direction it is still lagging in the region as demand seems to outpace the accumulation of inventory.”

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Despite the drop in active listings, the benchmark prices for single-family homes and condominiums slightly dropped to $655,600 and $365,600 respectively as of November. In September, the benchmark price for a single-family home sat at $662,400 while condominiums were at $367,700.

On the other end of the spectrum, the benchmark price for townhomes in Kamloops sat at $529,500 as of November, up from $525,300 in September and an increase of 1.1 per cent year-over-year.