Kamloops real estate sales drop in December, prices rise 33 per cent

Jan 5, 2022 | 10:23 AM

The Kamloops and District Real Estate Association (KADREA) reports that the average residential price in the city has risen 33 per cent in December 2021 compared to the same time in 2020.

According to KADREA’s latest monthly stats released on Wednesday (Jan. 5), the average residential price in December rose to $663,774 from $501,465 in 2020.

However, December’s sales saw a 34.7 per cent decrease compared to the same time in 2020. KADREA says 152 residential units were sold last month, a decrease from the 233 sales recorded in December 2020.

Currently, there are 714 active listings in the KADREA area, with 113 new listings added last month.

The average residential price has risen to $663,774, up by 33 per cent compared to the same month last year, which was $501,465. The total sales dollar volume was just over $100 million last month, down 13.6 per cent from 2020.

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2021 was a record-breaking year for Kamloops and area real estate, says KADREA President Chelsea Mann.

“Earlier this year we broke our monthly unit sales and average price records quite easily as compared to 2020 after the initial lockdown months,” says Mann. “The rapid sales growth that was recorded across all Boards in B.C. during most months this year was a result of the favourable government policies, the technology boost that our industry received, and the way realtors maneuvered difficult market situations.”

KADREA says the average residential prices will continue to float around the $600,000 for the foreseeable future.

(Submitted photo/Kamloops and District Real Estate Association).

by Stephanie Swensrude

Kamloops real estate sales drop in December, prices rise 33 per cent

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