Kamloops just had its last snow fall of the season (hopefully!) and Spring is officially around the corner. February flew by far too quickly, not that it helped I was away in the US for the R4 Remax Convention. What an incredible experience, the week was filled with meeting new people, learning new software and seeing all that the big tech giants are about to release into Canada this coming year.
As I get to the grind here in the office and taking a look at the February stats it’s hard not too see not only in person but in real data that our market is still plugging away full speed – with 112 sales this month, while down from this time last year its not hard to see that Buyer’s are still very active. Those days on market keep dropping which just shows how quickly houses are being sought out by prospective house purchasers.
South Kamloops (Downtown & Lower Sahali) experienced the highest numbers of sales in February, followed by Brocklehurst and North Kamloops. When you really pull out the stats for those three areas you can see a trend in those sales and why those three neighbourhoods are leading the way in housing. The average sale price of a home in the Downtown / Lower Sahali area – $347,814, Brock – $343,830 and in North Kamloops – $351,030. With the median household income in Kamloops of $73,336 (census 2016) it only makes sense that the areas seeing the most movement are areas that offer various types of housing; condo, townhouse and half-duplexes.
While Brock and North Kamloops were in the top 5 for total overall sales in the month of February, homes North of the River only made up 59 sales of the total 185.
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|February 2019||February 2020||Year to Date|
|AVG. RESIDENTIAL PRICE||$470,432||$439,613||$439,112|
|AVG. DAYS ON MARKET||61||55||55|
*Information updated as of April 7/2020*