We have have officially entered fall yet real estate is continuing to climb upwards with the summer market not yet ‘falling’.’ House sales in September surpassed last years number by 42% — with the total years sales overall down only by 7%. A good strong market here is anticipated to continue despite the pandemic.
“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… 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”, says KADREA President Wendy Runge. “… As we expect interest rates to continue to stay low, probably until 2023, Kamloops Realtors® are confident that we will end the year on a high note” added Runge.
Single-family homes (148) have continued to be the highest demand market compared to any other type of property in Kamloops followed by townhouse (42) and condo (25) not far behind.
With the winter season quickly approaching around the corner (its only 11 WEEKS till Christmas!), it is not unusual for sales to slow down towards the end of the year. “We are neither seeing the signs nor expecting a slowdown, at least, for the next couple of months. Provided that people continue to want to sell their homes, I can imagine that Kamloops will continue to be a healthy market for real estate sales”, said Runge.
Neighbourhoods with the most sales in September (# of sales):
- Brocklehurst (30)
- Sahali (28)
- Aberdeen (25)
- Westsyde (20)
- South Kamloops /Downtown (15)
|SEPT 2019||SEPT 2020||Year to Date|
|AVG. RESIDENTIAL SALE PRICE||$476,233||$509,862||$475,726|
|AVG. DAYS ON MARKET||43||62||56|
|AVG. RESIDENTIAL SALE PRICE||$445,726||$475,726|
|DAYS ON MARKET||46||57|
* Stats are for Kamloops area only, all types of housing as of OCT 5/20 *