Kamloops and District market continuing strong as we head into Summer!

Fri, 11 May by morganrealestate

The number of homes sold through the MLS® System of the Kamloops and District Real Estate Association totaled 311 units in April 2018. This was down 4.3% (14 sales) from a decade high April in 2017. That said, it was still among the best April sales figures ever, marking a noticeable rebound from March!

While the numbers would indicate that the market is less active year-over-last, the inverse is true. Inventory levels (the number of homes for sale) are at an all-time low, resulting in increased competition among buyers leading to upward pressure on prices.

The median price of homes sold in April 2018 was $454,900, up 7% from April 2017.

The more comprehensive year-to-date average price was $377,518, up 7.2% from the first four months of 2017.

Active residential listings numbered 1,044 units at the end of April. This was a decrease of 12.9% from the end of April 2017 and marked the lowest level of inventory at this time of the year since 2006.

There were 496 new residential listings in April 2018. This was an increase of 11.2% on a year-over-year basis.

Months of inventory numbered 3.4 at the end of April 2018, down slightly from the 3.7 months recorded at the end of April 2017 and below the long-run average of 8.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Making sense of market data can be both interesting and confusing. If you are wondering what all of these numbers and stats mean and want to know how they should influence your buying or selling decisions, we are only a call/email/text away! As always, if we can be a resource to you, your family or your friends, please don’t hesitate to reach out to us!

– Cathy and Cassidy

Remax Real Estate (Kamloops) Market Share (September 2017)

Thu, 12 Oct by morganrealestate

Kamloops Market Stats March 2017

Mon, 10 Apr by morganrealestate

Hi Everyone,

Real Estate in Kamloops is booming right now. Here are the latest stats!

 

March 2017

RE/MAX Real Estate (Kamloops) Market Share February 2017

Fri, 03 Mar by morganrealestate

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RE/MAX (Kamloops) Market Share for the month of January

Fri, 03 Feb by morganrealestate

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RE/MAX Real Estate (Kamloops) Market Share

Tue, 24 Jan by morganrealestate

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Vancouver Market Update: October 2016

Mon, 07 Nov by morganrealestate
Market Update Courtesy of the REBGV

Residential property sales in the region totalled 2,233 in October 2016, a 38.8 per cent decrease from the 3,646 sales recorded in October 2015 and a 0.9 per cent decrease compared to September 2016 when 2,253 homes sold.

Last month’s sales were 15 per cent below the 10-year October sales average.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,981 in October 2016. This represents a decrease of 3.5 per cent compared to the 4,126 units listed in October 2015 and a 17 per cent decrease compared to September 2016 when 4,799 properties were listed.

Last month’s new listing count was 9.5 per cent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,143, a 4.5 per cent decrease compared to October 2015 (9,569) and a 2.3 per cent decrease compared to September 2016 (9,354).

The sales-to-active listings ratio for October 2016 is 24.4 per cent. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“While sales are down across the different property types, it’s the detached market that’s seen the largest reduction in home buyer demand in recent months,” Dan Morrison, REBGV said. “It’s important to work with your local REALTOR® to help you navigate today’s changing trends.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $919,300. This represents a 24.8 per cent increase compared to October 2015 and a 0.8 per cent decline compared to September 2016.

Sales of detached properties in October 2016 reached 652, a decrease of 54.6 per cent from the 1,437 detached sales recorded in October 2015. The benchmark price for detached properties is $1,545,800. This represents a 28.9 per cent increase compared to October 2015 and a 1.4 per cent decrease compared to September 2016.

Sales of apartment properties reached 1,178 in October 2016, a decrease of 23.7 per cent compared to the 1,543 sales in October 2015.The benchmark price of an apartment property is $512,300. This represents a 20.5 per cent increase compared to October 2015 and a 0.3 per cent increase compared to September 2016.

Attached property sales in October 2016 totalled 403, a decrease of 39.5 per cent compared to the 666 sales in October 2015. The benchmark price of an attached unit is $669,200. This represents a 25.7 per cent increase compared to October 2015 and a 1.1 per cent decrease compared to September 2016.

Kamloops October Market Update

Fri, 04 Nov by morganrealestate

Kamloops Graphs Market Share Kamloops

Kamloops Market Stats – May 2016

Fri, 03 Jun by morganrealestate
Kamloops Real Estate Market Stats

Kamloops Real Estate Market Stats

MAY 2016

Kamloops Market Update – May 2016 Edition

Sun, 08 May by morganrealestate

Although real estate sales in Vancouver have been receiving all the attention of late with news of record breaking sales province-wide, our own market is also reporting some RED HOT stats! Last month, sales activity in Kamloops reached the HIGHEST LEVELS SEEN SINCE 2007 representing a whooping 39.7% bump up!  While we have been seeing sales numbers slowly increasing since the beginning of the year, April was truly arecord setter.   Also of note is that inventory levels have been lower than normal, fuelling a 6.3% rise in the average price of homes from the same time last year.  Considering the number of homes listed in our area last year at this time represented a 9 month supply coupled with inventory levels at the end of April 2016 sitting at only 5.5 months, I expect our market to see more gains as we progress into 2016.  Whether you are buying or selling, this is truly a great time to be thinking real estate!!  If you are keen to see more market trends go to MorganRealEstate.caand see all the latest stats!

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The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.