Keeping the drop in Kamloops and Okanagan housing sales in perspective

While housing sales have dropped dramatically in Kamloops, the Okanagan and the rest of the province this year, that’s compared to a record setting 2021.

June sales were down 35.7% in B.C., according a news release from the B.C. Real Estate Board issued today, July 12.

But sales in 2021 hit an all-time high, 11% higher than the previous record set in 2016.

READ MORE: Some housing prices falling in Okanagan, Kamloops

In June, a mere 7,136 homes were sold in B.C., down from 11,070 in 2021. But, going back a bit further, sales in June this year surpass the pre-pandemic June 2019 sales of 6,960.

Real estate prices, on the other hand, tell a different story.

Last year saw prices climb dramatically, peaking in February 2022 with the average home in B.C. selling for $1,109,152. While still well ahead of last year, the average price has been dropping steadily since February.

It dropped to $951,105 in June. But, that is still above the average of $910,445 in June 2021.

In June, Kamloops bucked the provincial price trend.

In B.C. as a whole, the average price dropped from May to June by about 5%.

Kamloops prices, on the other hand, were up 4.7% month-over-month to $671,289.

In the Okanagan, average prices fell a mere 0.13% to $784,569.

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