The average selling price on the multi-family home side in March was $412,538. The average selling price after combining the selling price of all the homes in the Kamloops rose to $545,915. The average selling price in February was $422,673. A total 29 percent increase occurred in the average price in March from February. Last month in the region the average selling price of single-family and multi-family homes hit record levels, according to the Kamloops and District Real Estate Association.
In March the average selling price of a single-family home was $686,216. An increase of 40 percent occurs from March of 2020. Last month in the Kamloops region there were 201 such sales. There have been 522 sales of single-family homes through the first three months of 2021. The average selling price of these properties a year ago was $633,905.
The average selling price in March of the multifamily homes was $412,538. It is 16 percent more than March 2020. The number of units sold last month was 145. There have been 377 sales of multi-family homes through the first three months of 2021. The average selling price of the multifamily homes with, year to date, being $403,374.
In March 2021 the number of combined sales is 372 units according to the Kamloops and District Real Estate Association. It was a 104 percent increase from March 2020. Total sales dollar volume in March stood at $203.1 million. This is a 164 percent increase over 2020. In March 2020 the total sales dollar volume was $76.9 million. As of April 3, the number of active listings was 651.
In an interview, Chelsea Mann, Kamloops and District Real Estate Association president, said that “It has been a year due to coronavirus lockdown since we first recorded a drop in sales numbers, and what a year this has been for Kamloops real estate.” He added that “We’re indeed setting sales records in the region and I don’t see any downtrend in the months to come. He also added that the fact we should not ignore is that this rise is because of the low number of sales in 2020.
According to him, the average prices are getting increase day by day. If we look at this then the unit sales for 2021 are going to be better than any other period market has ever seen.
The new developments that are taking place in the city are only one. It is a condo development. This development is the project of the Cape group, which is the most active developer of the city. This condo is developing at 885 University Drive, Kamloops, and named Creston House. The price of the available units is in the range of $309,900 to $599,999. It has a total of sixty units. The range of the condo is from 536 to 1151 square feet. The median price per square foot is $558. It has bedrooms from 1 to 2.5.