Sales, price increases slowed for Kamloops real estate sector in October

KAMLOOPS — Kamloops home buyers hit the brakes in October.

Month-end totals provided by the Association of Interior Realtors (AIR) show 144 sales in Kamloops last month, down 52 per cent from the same month in 2021. The total also represented a decrease from 166 sales in September 2022.

The market added 320 new listings, leading to a total of 2,025 homes on the market by month-end, more than double the selection available in October 2021.

“The deceleration in sales activity in Kamloops has started to bring inventory back on the market. It is tough to determine the trajectory of sales for the months ahead, as historically, sales volume lowers during winters making the numbers a lot more volatile,” said AIR President Lyndi Cruickshank. “At the moment, we’re on track to reach sales reminiscent of the steady 2019 real estate market in our region.”

Prices continued to rise, but not as dramatically as previous months for single-family homes.

The benchmark price for a single-family home was $651,100 in October, a 6.9 per cent increase from October of last year. AIR says the benchmark price represents a home with “typical attributes.”