September 2015: Kamloops Real Estate Market Strong, CFJC
CFJC News Kamloops posted this article and news story on October 1st, 2015. The story is by Tanya Cronin.
September was a strong month for the local real estate market in Kamloops, with sales up 34-percent. A total of 248 residential properties changed hands last month – up from 183 in September of 2014. The local market is the most balanced it’s been in years – and with mortgage rates at a low, the Kamloops and District Real Estate Association President says, it’s great news for both buyers and sellers. Right now, the average sale price in the City is 386-thousand dollars.
As a team we have found that it has been very busy both with Buyers and Sellers. We sold 24 homes in September alone so it definitely was a busy month. With lower mortgage interest rates Buyers are excited and eager since they have lower financing costs. Homes under the $500,000 mark seem to sell well in Kamloops however homes over that price point are a bit challenging. The sales are also stronger in some areas of Kamloops more than others. It isn’t consistent across the board. The more expensive real estate in Kamloops takes time to sell and needs effective marketing to stand above the competition.