2019 Kamloops real estate market shows ‘surprising’ stability compared to rest of B.C. | iNFOnews | Thompson-Okanagan's News Source

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2019 Kamloops real estate market shows ‘surprising’ stability compared to rest of B.C.

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January 02, 2020 - 1:26 PM

The month of December ended on a mainly positive note for homeowners and real estate sales, according to the the most recent monthly statistics by the Kamloops and District Real Estate Association.

Despite sales being down slightly, the low inventory and continued stable demand led to price increases in all housing categories, according to the statistics.

“While December is typically a slow month for real estate in general, sales were up sharply in Kamloops during the month this year,” the release says.

There were 155 home sales in December compared to 123 in December 2018. The number of new listings were also up in December with 188 homes hitting the market compared to the 137 last year.

Single family home prices averaged $485,741 in 2019 compared to the $465,721 in 2018. Overall, the average price for all sales categories was $418,617 in 2019 compared to the $390,449 in 2018.

Sales activity was led by South Kamloops with 16 sales followed closely by North Kamloops with 15 sales and Aberdeen with 13 sales.

For the entire 2019 year, sales activity was strongest in Brocklehurst with 293 homes trading hands followed by Sahali with 236 sales and Aberdeen with 230 sales.

Overall, the real estate association says Kamloops showed surprising stability compared to much of the rest of B.C., with sales in this area coming in just below the record levels set over the previous three years.

Much of the remainder of B.C. with the exception of many northern communities saw sharp declines in sales, significant increases in the number of homes listed and lower prices.

Sales activity in the city has been picking up for the past three months and is likely to continue into the early part of 2020.

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