It’s a another sharp decline in Kamloops home sales in October.The president of the Real Estate Association Doren Quinton says October figures were almost the same as September.
October 2018 saw 234 houses sold, compared to 296 in October, 2017.
“Sales were off about 21 per cent again for the month. Prices were quite stable, actually increasing a little bit,” Quinton said.
“A little bit softer on the sales front but still a fairly strong month for real estate.”
The average price of a single family home sold in October 2018 jumped to $488,000, compared to $424,000 last year, an increase of 15%.
“The 20 stress test, interest rates are rising,” Quinton added, when asked about a reason. “There’s a lot of news out there that some big markets – Vancouver and Toronto, a lot of the boards around us are falling in sales as well. so it bites into demand a little bit
The most active areas during October were Sahali with 26 sales, Aberdeen with 20 sales and Brocklehurst with 17 sales.