Record setting real estate sales continue in Kamloops | iNFOnews | Thompson-Okanagan's News Source

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Record setting real estate sales continue in Kamloops

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October 05, 2020 - 6:30 PM

For the fourth consecutive month, the number of housing units sold in Kamloops has broken previous records.

The 332 units sold in September was 23.8 per cent higher than for the same month in 2019 and the average price of $493,597 was up 15.3 per cent from $428,144 for September 2019.

“Real estate sales numbers for last month have once again shown us that the impact of the pandemic on the market has been more positive than originally predicted,” Wendy Runge, president of the Kamloops and District Real Estate Association, said in a news release. “For the fourth month running, the number of units sold have been setting records that not many would have contemplated at the beginning of the pandemic.

“While sales usually dip in September and then pick up again during the fall months until winter, the trend we are seeing right now is unlike anything that we have seen before. We are neither seeing the signs nor expecting a slowdown, at least, for the next couple of months.”

While sales have been great for the past four months, the total dollar value of sales is down 1.3 per cent to $946.6 million compared to the first nine months of 2019.

The number of units sold is down by 7.6 per cent but the average price was up 6.8 per cent to $451,202 for the year to date.

Single-family homes accounted for the largest number of sales in September at 215 compared to 92 multi-family, which is typical for the Kamloops market, the release states.


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