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Housing sales and prices dip in Kamloops month over month

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The average price of a home in Kamloops dropped slightly in November from October in Kamloops.

That average for November was $617,158, down about $2,100 from October’s average.

It was a 27% increase from the $468,339 average price in November, 2020, according to a news release from the Kamloops and District Real Estate Association.

The 259 units sold in November was also down, by 3.35%, over last year. For the first 11 months of this year, the number of units sold was up 10% from last year.

READ MORE: Winning or losing in Okanagan real estate depends on where you live

“The market is still very hot,” Association president Chelsea Mann said in the news release.

The average selling price for a single-family house was up 20.2% from last year to $713,326 while multi-family units were up 34.7% to $502,463.

“High consumer demand continues to push sale prices upward,” Mann said. “Forecasted mortgage rates will likely put some downward pressure on home prices in 2022, but the market still desperately needs more housing supply.”

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