File photo (Image credit: CFJC Today).

By Aaron Schulze

Real Estate

Prices continue to drop during cooler September for Kamloops real estate market

Oct 8, 2024 | 8:43 AM

KAMLOOPS — The transition from summer to winter started in September but one holdover from the summer is the cooler Kamloops real estate market.

New numbers provided by the Association of Interior Realtors (AIR) show 177 residential units changed hands in the Kamloops and District region in September, down from 192 in August and down 9.7 per cent year-over year.

There were 416 new listings recorded in September, down from 443 in August and down 4.4 per cent from September 2023.

Active listings decreased from 1,452 in August to 1,386 in September, but it’s still up 23.5 per cent year-over-year.

“The Kamloops and district real estate market exhibited a slight cooling in sales activity in September,” said Kaytee Sharun, AIR president, in a news release. “However, the uptick of active listings should provide some much-needed options for potential buyers given that the area typically struggles to accumulate a healthy level of inventory to satisfy demand.”

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The benchmark price for a single-family home in August sat at $662,400 – a decrease of nearly $1,900 from August – and a 2.2 per cent decrease year-over-year.

Additionally, condominiums in the Kamloops area sit at $367,700 – a decrease of nearly $9,200 from August – and a 9.3 per cent decrease year-over-year. Townhomes slightly dropped from $528,800 in August to $525,300 and are down 2.5 per cent year-over-year.