With the first day of summer only three weeks away, the spring market is nearly wrapped up. We experienced a strong first quarter which has carried into the second with only a small dip in activity. Overall in comparing last year to 2019, we saw a nearly identical number of listings and sales in the month of May. Housing prices have continued to rise which was to be expected with the continuation of outside pressures and low interest rates. The big number that is different from this period last year, is the total number of available listings – which is a great thing for Buyers but a sign that things are beginning to slow down. The end of the hot ‘sellers market’ is in the horizon but my personal opinion, we won’t see a huge dip in prices / movement more of just an evened out pace which puts less pressure on both those looking to sell their home and those ready to purchase.
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Please don’t hesitate to give me a call on my cell if you have any questions about the Kamloops market and what these stats may mean for you.
|May 2018||May 2019|
|AVG. RESIDENTIAL PRICE||$473,000||$497,000|
|AVG. DAYS ON MARKET||40.92||42.33|