The number of homes sold through the MLS® System of the Kamloops and District Real Estate Association totaled 123 units in December 2018. This was a large decline of 33.5% from the record month of December in 2017.
On an annual basis, home sales totalled 2,984 units in 2018. This was a decrease of 10.8% from 2017. It also stood below 2016, but above all other years in the last decade.
“Home sales finished the year roughly in line with the 10-year average for the month of December, with the big year-over-year decline a reminder of the mad rush to get deals done back in December 2017 just before the new stress test came into force,” said Doren Quinton, President of the Kamloops and District Real Estate Association. “With demand remaining historically pretty solid in 2018 amid still very tight supply, the average home price in the region posted a gain of 7% compared to 2017 – the biggest gain in a decade.”
The average price of homes sold in December 2018 was $393,132, up just 0.2% from December 2017. The more comprehensive annual average price was $390,668, up 7% from 2017.
The dollar value of all home sales in December 2018 was $48.4 million, falling 33.4% from the record for December in 2017.