Sorry about the delay for this real estate update for July. Ideally I would like to send out an update of the previous month within the first 5 days of any month. I am still trying to find the ideal format for this newsletter that hopefully informs/entertains as many people as possible.
If you have been paying any attention to the news you probably heard good things about the real estate market this year and it is always refreshing when the new is correct! So far the year to date sales for the Kamloops area are tracking higher than last years numbers and that means that a price correction down, like the one we had in 2011 will continue to be a distant memory.
How much of an improvement have we seen and what areas are selling more this year compared to last year? There has been about a 5% increase in the number of sales year to date in Kamloops compared to last year. This July we saw major increases in the number of sales of properties in the 0-40k range, $320-360k, and +600k range.
When we look at what is happening in the sub areas of Kamloops we see that Brock is selling well with lots of sales coming in the $240-280k range. Aberdeen and Pineview Valley are areas that is talked about because of their close proximity to the proposed AJAX mine and you can see there have seen slight reductions in numbers of sales compared with last year but it is too early to determine if the decline in sales are a result of anything other than normal variance. Over all sales of residential properties are up 5% for the month of July.
If you are interested in reviewing the details of the information above feel free to look over the data collected by the Kamloops real estate board for both this July and last July in the table below.
Last July’s Number
This July’s Numbers
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