Kamloops Real Estate Update for May 2014

It is June already! Here is a creative newspaper ad I came across...human owned!

 

Quick Summary:

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

Residential sales dipped again in May compared with last year’s numbers over the same time period; there was about 5% decrease. This means that we are continuing to track lower than last year, year-to-date we are about 8 % lower than last year. Good news for sellers is the number of new listings year-to-date is about 3% less compared with last year. Looking at the bigger picture and further back over time 2014 is following average performance which overall means a fair amount of stability. Looking at the segments of the market single-family houses is the most active in the market and therefore more of a seller’s market. The condo and house with acreage markets are currently the weakest and therefore, leaning towards a buyer’s market.

 

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.

During the month of May $81,427,000 worth of real estate was sold through multiple listing services and this is close to last year’s figure of $81,713,000 during the same period. May was a solid month compared with past historical numbers for the month. There was a decrease of 5% in number of sales but these numbers say the majority of that decrease was felt in properties below $160k. The median house price for the month of May was $349,000.

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.

Brock led the way in May with the most amounts of property sold in Kamloops, followed by Westsyde, Aberdeen and Sahali. There were no surprises here as these areas generally have the most amount of listings so naturally get their fair share of sales. Comparing last years sub area information to this year’s data we can see that the number of properties sold was down just 4% or 8 units. All of these missing sales can be found in the price range of 0-160k, which are typically are older manufactured homes, and low-end condos, and residential lots.

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 May and compare them with last year’s numbers we see few notable trends.

First trend is residential single family homes appear to be the strongest segment of the market. This is evident by the fact that sales numbers and listings numbers are holding steady. The second trend is that the number of sales for homes with acreage is going down and the number of listings in the same category is going up. This would be the weakest segment of the market right now. The third trend is the condo market numbers of sales are down but the number of new listings is holding steady. A good month in June can change these trends, as it is right now the market is a bit soft particularly in the acreage and condos sectors of the market.

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 Month’s Numbers

This Month’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

 

If you are considering buying or selling in the Kamloops area please feel free contact me for the latest market information.

 

 

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