Image Credit: CFJC Today

By James Peters

Real Estate

At 2019 halfway point, Kamloops real estate market lags behind ’18 pace

Jul 2, 2019 | 1:43 PM

KAMLOOPS — The local real estate market reached the halfway point of 2019 lagging behind last year’s sales pace.

According to a news release from the Kamloops and District Real Estate Association (KADREA), sales are down nine per cent in Kamloops as of the end of June. During the month of June itself, sales were down 20 per cent.

Of the 262 sales recorded last month, 26 happened in Brocklehurst, making that the busiest neighbourhood in Kamloops. Aberdeen came second with 22 sales.

The median sales price in June was $496,000, down slightly from $497,000 in May.

In the news release, KADREA President Wendy Runge says affordability is a challenge across the country, and that it’s seeping into Kamloops as well.

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Runge says demand has shifted toward townhouses and condos because they are less expensive, while single family home sales are cooling.