Andrew Thompson’s Kamloops Market Update for January 2014

 

I hope everyone had a fantastic family-day long weekend!

Quick Summary:

If you would like just a quick overview with few details this paragraph is for you!

The numbers for January were strong in comparison to last year’s numbers. Sales were up a little bit and the number of new listings were about the same when factoring in a couple of new developments that put all of their units on the market at the same time. It is nice to see a good spread of property sales in virtually all price ranges including above the $400,000 price range.

MLS Activity Report

This report gives you a good overview of real estate sales. These numbers are gathered from all subareas of Kamloops. The subareas included are detailed in the next report.

Comparing this year’s numbers to last years and we see that same good spread of sales in the majority of price ranges. Despite popular thought it seems January is one of the good months to sell, especially with those higher priced properties. Last year the average median house in Kamloops was about $363,000 and this year that same median dropped to $352,000.   The market hasn’t dropped $11,000, the number of large sales (+$400,000-+$600,000) last year moved the median price that much.

Overall year-to-date sales are up about ~10% and the number of listings year-to-date are up ~6% to start the year.

Residential Sales by Subarea

This report details the number of sales in the different areas and gives you the breakdown of sales in different price ranges.

So what area improved the most this month compared to last year? There is no distinct winner but Batchelor Heights and Dallas seems to be inching a bit ahead compared with last year’s numbers. The higher priced sales talked about earlier in this report seem to have been mostly in Juniper Heights, and South Kamloops this year.

Comparison by Property

This report details the different types of sales that happened over the month.

When we look at the sales by type figures for the month of January nothing too major jumps out when comparing this year to last year on the residential side. Single-family homes and duplexes/triplex/fourplex seem to continue to be a strong segment of the market. The biggest thing that we notice however is the large jump in commercial sales this January compared with last year. This market continues to be hot, as investors seem to be investing in multifamily and commercially zoned properties with a purpose. Just to give you some idea, there was a ~700% increase in the dollar amount invested this year compared with last year.

Feel free to take a closer look at raw data below by clicking on the links and if you have any questions please feel free to contact me.

 

Last January’s Numbers

This January’s Numbers

MLS Activity Report

MLS Activity Report

Residential Sales by Subarea

Residential Sales by Subarea

Comparison by Property

Comparison by Property

Most recent Quarterly Subarea

Most recent Quarterly Subarea

 Are you thinking of buying or selling real estate around Kamloops? I can help. Feel free to contact me anytime.

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