By Ashley Legassic

Kamloops home sales drop, prices rise in October

Nov 1, 2018 | 10:19 AM

KAMLOOPS — New real estate numbers show home sales in Kamloops are continuing to drop after a few strong years for the market.

Doren Quinton is the president of the Kamloops and District Real Estate Association, and says in a news release that sales continue to be pressured in the city, with the number of homes sold last month dropping to 233 compared to 296 in October 2017, representing a 21.3 per cent decline.

It’s also a drop compared to 258 sales in October 2016, but up from 202 sales in October 2015.

Year-to-date sales are down as well, with 2,644 units compared to 2,929 at this time last year, representing a 9.7 per cent decrease.

There were 343 new listings in Kamloops last month, almost unchanged from the 339 new listings in October of last year.

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“Despite the decline in sales volume, the average price of a home in Kamloops continued its upward trajectory,” Quinton says in the release. “The average price of a home sold in October 2018 was $406,912 compared to $399,445 in September, and $349,845 one year ago.” 

The average price of a single-family home has jumped to $488,281 compared to $424,668 last year — an increase of 15 per cent.

The most active areas last month, Quinton says, were Sahali with 26 sales, Aberdeen with 20 sales, and Brocklehurst with 17 sales.

“Overall the market continues to trend toward more balanced conditions,” Quinton says.