December is typically a slow month for real estate, but the last month of 2019 was busier than usual.
The Kamloops and District Real Estate Association said sales in December were up 26 per cent over the same period last year, with 155 homes sold. The number of new listings also shot up — by 37 per cent — with 188 newly listed properties up for grabs.
With the last month of 2019 in the books, KADREA also offered statistics for the past year, including a look at where prices jumped the most.
The biggest jump in price affected mobile homes — up 17.3 per cent over the previous year, to an average price of $148,669. Apartments also jumped in price, up 11.3 per cent to an average price of $271,660. Townhouses were up 5.9 per cent in price, marking an average of $365,206, while single-family homes went up 4.3 per cent, to an average price of $485,741.
Three neighbourhoods made up about 34 per cent of all sales. The most popular was Brocklehurst, with 293 homes sold, followed by Sahali (236) and Aberdeen (230). Brocklehurst’s largest contingent of homes were sold in the $400,000 to $439,000 range, while in Aberdeen the largest cohort of sales was in the $600,000-plus range.
In all, 1,822 single-family homes were sold. That figure includes 1,553 residential homes, 104 waterfront homes and 165 house and acreages. On the multi-family side, 834 units were sold, including 378 townhouses, 287 apartments and 169 multiplexes.
Non-residential sales included 176 sales of vacant land (nine farms, 54 acreages, three acreages with waterfront, 106 lots and four waterfront lots) and 81 other sales.
“Overall, the 2019 real estate market in Kamloops showed surprising stability compared to much of the rest of British Columbia, with sales in our area coming in just below the record levels set over the previous three years and continued improvement in average prices,” KADREA president Wendy Runge said in a release to media.
Runge said the increase in sales activity seen in Kamloops is likely to continue into the early part of 2020.