File Photo (Image Credit: CFJC Today)

By James Peters

Real Estate Activity

Kamloops real estate market hits June lull

Jul 5, 2024 | 1:38 PM

KAMLOOPS — The Association of Interior Realtors (AIR) says June was unusually slow for sales activity in Kamloops.

New numbers distributed by the association show 223 units changed hands last month, down from 251 in May and 280 in June of 2023.

At the same time, active listings grew to 1,441 in June, the highest total since January 2023.

Benchmark prices were steady, at $652,300 for single family homes and $540,000 for townhouses. Both averages are within $1,000 of the May figures.

Across the region served by AIR, there were 1,330 residential unit sales recorded in June, down 12 per cent from May.

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“Much like the weather, real estate sales activity in June was not the typical seasonal activity that we have seen in recent years that tends to increase as the warmer climate arrives,” remarked AIR President Kaytee Sharun.

“While active listings are moving in the right direction to provide buyers with more options, sales activity has started its summer slowdown slightly ahead of schedule,” she added. “This time last year, the real estate market in the Kamloops region was somewhat heated with above long-term average activity, so the dip in unit sales in comparison is not particularly unexpected to see.”