Kamloops Real Estate
For years now the national and international media has been telling us about extreme Real Estate ups and downs, booms and busts, bubbles and...pops? We hear all about "too much property inventory," "home prices dropping 30-40%" and "low home sales numbers." Because of the media drama most people (including me, at first) thought these extreme fluctuations are everywhere in the country.
So, I took a look at some Sales Statistics for KAMLOOPS, 'cause that's where I live, work, invest and play. So if you're reading this and you live in downtown Toronto or Vancouver...sorry 'bout that...these dollars might seem pretty small to you.
In KAMLOOPS the average home price for
- 2010 was $340,000.
- 2011 was $353,000. and
- 2012 was $359,000.
Wow. Steady growth. No bubbles. No collapse. A 5.7% increase over 3 years. I figured the last 3 years would be a pretty good snapshot of what's going on. Curious, I just had to look at 2007 too - that's pre-market crash numbers. How were we doing? The average home sale price for 2007 was $349,900. If prices crashed, it appeared they had recovered.
OK. How about the number of sales in KAMLOOPS? Surely that has collapsed, or something. Number of sold homes in
- 2010 was 2,123,
- 2011 was 2,069 and
- 2012 was 2,094.
Those numbers of "Sold" are pretty close for 3 years in a row!
Let's consider the number of listings then, and see how many people were trying to sell. The total number of homes listed in
- 2010 was 4,980,
- 2011 was 5,067 and
- 2012 was 5,247.
A small, steady increase of 5%. No big deal. I kept looking. Listed homes for sale in KAMLOOPS at the end of
- 2010 was 1,414 for
- 2011 - 1,691
- 2012 - 1,632.
Again, pretty steady. While I was at if, I looked at numbers for Brocklehurst, the largest residential sub area in KAMLOOPS, to see how much the sales fluctuated there. For
- 2010 there were 238 home sales,
- 2011 there were 236 and
- 2012 the number of homes sold was 231.
Seems like KAMLOOPS missed out on the Real Estate roller coaster. No wonder we're not making the news. Steady as she goes is pretty boring news.
Seems like KAMLOOPS is a pretty stable place to live, work, invest and play!