The price of homes in Kamloops continued to climb in June as the real estate market bounced back compared to earlier in the pandemic.
The average sales price was $508,442, which is 15.1 per cent higher than June of 2019.
Kamloops and District Real Estate Association president, Wendy Runge, says there are still more buyers than sellers in our market.
“I keep saying it, but until the inventory level rises enough that we have more of a balanced market,” Runge says.
“We always tend to slow down a little bit come July, and August, just with holidays. But it’ll be interesting this year to see if people are going away or if they’re going to stick around and see if properties are coming up, and be ready to jump on them when they do.”
The average single-family home price last month was $531,169, which is 6.8 per cent higher than 12 months earlier.
Meantime, there were actually more home sales in Kamloops in June 2020 (209) than June 2019 (206), which comes after the number of sales in April and May were nearly cut in half compared to normal.
“June we experienced what I would say was a great comeback,” Runge says.
“The biggest thing is people are feeling a little more comfortable getting out and into houses. And I think we’ve just a real pent-up of buyers who were ready to go, say in March, and then the pandemic hit. So they’ve been sidelined for a couple months, so now that they feel they’re allowed to get out there again, they seem to have all done it in the same month.”
