(CFJC Today/File photo).

By Aaron Schulze

Real Estate

Kamloops real estate sales drop again, but prices rise in August

Sep 4, 2021 | 10:00 AM

KAMLOOPS — The Kamloops and District Real Estate Association (KADREA) says its active real estate inventory is down to crisis levels, as sales remain strong.

According to KADREA’s monthly stats, 280 residential unit sales were in August, which is 21.3 per cent below the 365 sales recorded in August 2020.

However, the average residential price in the KADREA area saw a 26.1 per cent increase, going from $455,262 in August 2020 to $574,425 one year later. Total sales dollar volume in August stood at $160 million, a 0.7 per cent fall from 2020, which was $160.8 million.

There were 378 new listings recorded last month, and there are 875 active listings in the KADREA area as of Sept. 3, 2021.

“Although sales last month were lower than expected, my prediction for 2021 is going to remain positive for the rest of the year,” KADREA President Chelsea Mann states. “We’re having a strong year and we’re on track to break our annual sales records. I agree that the demand for residential properties in Kamloops and district has been balancing since the start of the second quarter but the demand for single-family homes continues to be high with some sellers in the region still experiencing multiple offer scenarios.”

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The first eight months of 2021 has had the highest number of residential sales year-to-date over the last decade. Although total sales have dropped month-by-month since April.

(Kamloops and District Real Estate Association).

(Kamloops and District Real Estate Association).

(Kamloops and District Real Estate Association).