By James Peters

More declines in Kamloops real estate market, but association president sees no cause for concern

Mar 1, 2019 | 1:14 PM

KAMLOOPS — New numbers from the Kamloops and District Real Estate Association show a steady but slightly slower home-buying market last month.

One-hundred eighty homes changed hands in Kamloops in February, an 8.2 per cent decline from the same month in 2018.

The market has been gradually slowing down in recent months, but association president Doren Quinton says it’s not concerning.

“Sales numbers have been pretty steady. Nothing too alarming. Nothing like the Lower Mainland, where they’re down 40 to 50 per cent, or some other areas around the province,” said Quinton. “Kamloops has actually been doing pretty well in that front. We’re one of the few areas in British Columbia that’s still showing solid sales numbers with continued price increases.”

Quinton notes buyers will be more concerned about the increases in sales prices.

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“More of a concern is the increase in price out there for buyers out there trying to buy. We did see some pretty significant increases, nearing record territory, for average price of homes during the month.”

The average sale price for a home last month was over $422,000 — a 12.3 per cent jump from February of 2018.