Kamloops real estate market performed better last month than June 2019

Photo: Unsplash

The local real estate market saw growth last month when compared to the same time last year.

According to the Kamloops and District Real Estate Association (KADREA), a total of 291 residential unit sales were recorded in June 2020. That's 8.2 per cent above the numbers that were recorded in June 2019.

Meanwhile, the average price for a home was $456,872, a rise of nearly 10 per cent from $415,506 the previous year. 

Total sales dollar volume in June came in at $132.9 million, an 18.9 per cent increase over 2019 ($111.7 million).

"It is great to see sales numbers improving in the region. The market has, in fact, performed better this month than last year," says KADREA president Wendy Runge in a news release. "I believe that Realtors have also adapted quickly to changing business practices. The sales in June signify that if we keep doing what we are doing, the impact of the pandemic on the real estate markets could be softened through the rest of the year."

Photo: KADREA

Runge notes that although June numbers have improved, numbers may be indicative of the sales completing in June because of a slow spring. She says average days on market has remained the same and the average price of residential units has not increased by much.

"I would call this a 'muted recovery' in the market. But this also means that things are improving, and better days are ahead."

Year to date, the district's residential sales dollar volume was down by 22.9 per cent, to $481.8 million, compared to the same period in 2019. Residential unit sales have dropped by 25.4 per cent to 1,130 units year to date, while the average price was up 3.3 per cent to $426.426. 

The total number of active listings in Kamloops and area at the end of last month was 1,002.

Photo: KADRE