The Kamloops and District Real Estate Association released the latest market numbers and everything is coming up Kamloops!
According to KADREA, a total of 340 residential unit sales were recorded during July. That number was 7.9% above the same month last year.
The average residential price in the community was $447,967, a rise of 8% from the $414,445 it was in 2019.
Total sales in July stood at $152.3 million, almost $22 million more than the $130.5 million it was last year. There were also 493 new listings recorded last month.
“After the re-opening of businesses in BC, sales numbers have improved marginally over the last couple of months," said KADREA President Wendy Runge. "Predicting how long the effects of the pandemic will last remains difficult, but as we can see now, the market seems to be following the usual summer trend. It is safe to say that the market will continue to show signs of improvement through the rest of 2020."
“While there is still a lot of uncertainty in the market, favourable government policies and continued demand will provide ongoing positive trends and fuel market recovery in the days to come. However, we are far from complete normalcy. We are cognizant of health and safety standards and other issues like shortage of supply in the Kamloops region.”
Year-to-date, sales have been down about 15.5% at $640.8 million, and residential unit sales are down 18.7% to 1,485.
Despite fewer sales, average residential prices have been up 4.3% this year and there have still been 1,028 listings posted in 2020.
