INDY’S COMMENTS
July continued to be a steady month with a slight dip of sales compared to the 2020 year. The hot button topic of sale prices continues to be the topic to Buyers and Sellers. The average price hasn’t come down and we are still seeing a consistent up trend. So despite there being fewer sales this past month, the continued pent up demand from lack of inventory has not caused any relief.
KAMLOOPS AND DISTRICT NEWS
While summer is expected to be a good time for sales, market reports show a drop in residential sales for the second month in a row in Kamloops real estate. According to KADREA President, Chelsea Mann, “We had a great first 6 six months in terms of real estate sales and Kamloops is one of the few areas in BC that’s sustained it’s market performance through summer. One will notice a negative difference if we compare our last month’s performance to the same month last year, but we’re still performing above average for the season. This is because the hot market erupted during the same time last year and was fueled by pent-up demand after the coronavirus lockdown. I believe that moderate sales during this time is a healthy sign for the market to pick up again, which it usually does, during fall.”
Active inventory count in Kamloops has fallen since June 2021. Chelsea Adds, “Like I’ve mentioned before, supply is a long-term problem that needs to be addressed. Our active inventory numbers have plateaued significantly due to factors that may not be under our control. The effects of the wildfires in the province can be a reason why people would be holding off making a selling decision at this time of the year. As inventory has never been lower, sellers may also be finding it difficult to move to a new home if they wish to continue living in Kamloops. It is a cyclical issue that will be broken once sellers in Kamloops decide to get good value for their properties; as the province continues it’s path to strong economic recovery for the rest of 2021.”
Neighbourhoods with the most sales in July (# of sales):
- Sahali (43)
- Brocklehurst (32)
- South Kamloops (24)
- Aberdeen (19)
- North Kamloops (17)
| July 20 | July 21 | Year to Date | |
|---|---|---|---|
| NEW LISTINGS | 333 | 281 | 2392 |
| TOTAL SALES | 256 | 243 | 1958 |
| AVG. RESIDENTIAL SALE PRICE | $493,102 | $564,551 | $553,617 |
| AVG. DAYS ON MARKET | 61 | 37 | 44 |
| ACTIVE LISTINGS | 746 | 624 |
– |
| YTD | 2020 | 2021 |
|---|---|---|
| NEW LISTINGS | 1797 | 2392 |
| TOTAL SALES | 1164 | 1958 |
| AVG. RESIDENTIAL SALE PRICE | $468,528 | $553,617 |
| DAYS ON MARKET | 55 | 44 |
*Table Stats are for Kamloops area only, all types of housing as of Aug 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 *
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