Strong year for Kamloops real estate sector

By Jill Sperling
January 4, 2017 - 9:52am Updated: January 4, 2017 - 5:40pm

KAMLOOPS — Kamloops and district experienced a hot real estate market in 2016. 

Unit sales were up 24 per cent, and the value of units sold throughout the year was up 33 per cent, from $900 million to $1.2 billion. 

The median price of a home was $403,000, up from $348,000 the previous year. Kamloops and District Real Estate Association president Katherine Rutherford says more homes have been selling over the $600,000 mark in the last few months.

"We did have quite a bit of inventory in that price range, so they're starting to move," Rutherford said. "Now, that's also a reflection of the time. December and January are typically when we have our lowest amount of inventory, so buyers have less choice." 

Rutherford adds the hottest price range is between $320,000 and $440,000. 

MAP: Most expensive houses in Kamloops

The neighbourhoods of Sahali, Aberdeen, Westsyde, Valleyview and Brock had the strongest sales in 2016. 

"We've got a lot of internal people just moving within our city for various reasons," Rutherford said, "but we have seen people coming from the Lower Mainland, we've seen a few more of those this year, whether they're retiring here, or they're moving their families here just to enjoy the nice lifestyle. I've talked to some people out at the resorts, and they're seeing some Albertans have moved in wanting to retire here and take advantage of our great area."

As usual, single family detached homes were the most in demand. 

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