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Home prices in Kamloops continue to increase

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January 02, 2018 - 8:00 PM

KAMLOOPS - New numbers from the Kamloops and District Real Estate Association show people are spending more when buying homes in Kamloops.

Doren Quinton, the association's acting vice president, says in a news release that the median residential price of homes sold in the city during December was $435,000, compared to $418,000 the same month in 2016.

"The majority of sales for December 2017 were above $600,000 which I believe is the first time I have ever seen that price range lead the pack," Quinton says.

The number of sales for December show a 28 per cent increase over the same month in 2016.

Quinton says this is an anomaly, as sales for the entire year in 2017 were up 5.5 per cent.

There are 22 per cent fewer residential homes on the market than at the same time in 2016, Quinton says, but 43 per cent more homes were listed in December 2017 compared to the year previous.

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