Home sales in Kamloops and area continue to break records
The Kamloops real estate market continued its record-breaking upwards trend last month with an almost 50% increase in home sales.
In January, 244 homes sold in Kamloops and the surrounding area, according to a Kamloops and District Real Estate Association media release. That's up 81 homes or 49.6% compared to January 2020.
January's sales numbers add to the seven-month, record-setting sales streak.
"As we stepped into 2021, there was a lot of excitement among realtors to see how the market responds to the arrival of the COVID-19 vaccine," real estate association president Wendy Runge says in the release. "The market has indeed responded positively, as we have seen a clear spike in the number of listings that were added last month."
When comparing total sales volumes in dollars, the real estate association says January 2021 had a 76% increase over last year.
The average price of a single-family home in 2020 was $550,881, still well below Kelowna's 2020 average price of $746,800.
"We have always been vocal about the potential of Kamloops and region to grown into an attractive investment destination for long-term home buyers," Runge said.
The association is optimistic that demand will continue in the Kamloops real estate market as vaccines are rolled out in the province, but that there may be a lack of inventory in the area.
"The average number of offers we receive per listing has been growing," Runge said. "Our market is steady, and we're adding just enough listings per month to cater to this ever-rising demand."
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