If you felt like you were seeing sold signs everywhere you looked, you were not wrong. House sales are nearly double this quarter than the same period last year. Historically in the Interior, the first quarter is a slower period prior to the summer market, 2021 started off strong and is continuing with no end in sight. End of month listing inventory is very low and number of listings cannot keep up with the current demand.
Again, spotlight is on the detached single family home category — at this moment there is only 133 total within Kamloops and only 73 of those are under $750,000.00. Without any doubt that has always been the preferred housing type here in Kamloops as it has typically been an affordable option for families. With the creeping house price rising it’s becoming even less so with more pressure now being placed on freehold half-duplex as a more cost effective option vs. stratafied units.
KAMLOOPS AND DISTRICT NEWS
The Kamloops And District Real Estate Association (KADREA) reports that a total of 372 residential unit sales were recorded by the Kamloops & District Multiple Listing Service® (MLS®) in March 2021. This is 104.3 per cent above the numbers that were recorded in March 2020. The average MLS® residential price in the area was $545,915, up by approx. 29 per cent from $422,673 recorded in the same month, last year.
KADREA’s new 2021 President, Chelsea Mann said, “It has been a year since we first recorded a drop in sales numbers due to the coronavirus lockdown, and what a year this has been for Kamloops real estate. We’re indeed setting sales records in the region and I don’t see any downtrend in the months to come. With that said, we must also not ignore the fact that this sharp rise in sales figures, is relative to a sluggish period in the 2020 market.”
Neighbourhoods with the most sales in March (# of sales):
- Brocklehurst (47)
- Sahali (42)
- South Kamloops (28)
- Aberdeen (25)
- North Kamloops (23)
|March 20||March 21||Year to Date|
|AVG. RESIDENTIAL SALE PRICE||$449,155||$549,970||$532,374|
|AVG. DAYS ON MARKET||40||47||54|
|AVG. RESIDENTIAL SALE PRICE||$442,212||$532,374|
|DAYS ON MARKET||50||54|
*Table Stats are for Kamloops area only, all types of housing as of Apr 6/21 – Kamloops only: Brocklehurst, Sahali, North Kamloops, Aberdeen, South Kamloops, Sun Peaks, Barnhartvale, Dallas, Westsyde, Campbell Creek/Deloro, Pineview Valley, Valleyview, Batchelor Heights, Cherry Creek/Savona, Dufferin/Southgate, Heffley, Juniper Heights, Pinantan, Rayleigh, South Thompson Valley, Sun Rivers, Knutsford-Lac Le Jeune, Tobiano *