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Home Sales up 15% in the first 10 months of 2015

Sales of Kamloops homes up 15% from 2014

Sales of residential units in Kamloops were down in October, a slip in what has otherwise been a year of double-digit sales increases.

The number of homes sold last month, at 202, is down about five per cent from the same month in 2014.

Sales in the city are up by 15 per cent through the first 10 months of the year. The median price for a single-family home in Kamloops came in at $367,000.

Cyndi Crossley, president of Kamloops & District Real Estate Association, said one trend that will affect both buyers and sellers is a decline in inventory. Residential listings on MLS are nearly 10 per cent lower than a year ago.

She said other markets, including Chilliwack, are experiencing the same decline in listings — a factor that can lead to increasing prices and a so-called sellers’ market.

Another notable aspect for the month was sale of 10 units valued at more than $600,000.

“That’s not what the Kamloops market is typically made of,” she said. “That should be encouraging for those with higher-priced homes.”

The busiest slice of the market is in the $320,000 to $360,000 range.

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