The third and final quarter of the year is here, and between seasonal shifts in the market and a general slowing we are starting to see a bit more inventory on the market. This is quite common for this period of time as winter approaches, houses for sale shift into a more subdued market. Looking at the chart below, you can see that we are essentially on park with this time last year, with numbers shifting up and down only marginal percent. When looking at the overall 2018 market compared to this past month, the days on market has decreased 16.83% – or an average of 46 days with the price shifting up another 9.31% to sit at an average $512,xxx.
Over the past two months in the 2019 year we have seen that average price slowly dropping and days on market starting to increase day by day. The signs were already prevalent in the Vancouver, Victoria, Edmonton, Toronto market that a slow down period was coming. It is now showing here that the shift has begun, although far more gradually than that of the other ‘big’ markets. As always, my opinion is not that of negativity when this shift is occurring but rather of a more positive light – noting that the ability to list your house for sale while having time to find your new home works in the favour of all parties to a transaction.
If you are ready to begin your home search, head on over to my listing notifications page and receive up to date listings, price changes and sale price information.
If you ever have a questions about the Kamloops real estate market and your property, please don’t hesitate to give me a call on my cell; 778-220-4639.
|Sept 2018||Sept 2019|
|AVG. RESIDENTIAL PRICE||$484,900||$475,000|
|AVG. DAYS ON MARKET||55||48|