Kamloops
Kamloops is a city in Canada in British Columbia. It is a highly gratifying city located in the interior part of British Columbia. Its location, ideal weather, and many other qualities attract buyers from all over the country as well as province. A combination of well-rated schools, friendly neighborhoods, amenities, and an abundance of outdoor activities amazingly lends the lifestyle in Kamloops.
Living in Kamloops is very affordable. The summary of the cost of living here is that the estimated monthly cost of a single person is $920. Kamloops is almost 24.89 percent less costly than New York. housing properties are less expensive than New York while rent on average is 65.57 percent less.
Market Condition of Kamloops
Like much of Canada, the real estate market of Kamloops has escalated to new heights since the middle of 2020. While numbers may not be as devastated as they were at the height of the real estate boom in the previous year, Kamloops is still getting strong sales numbers that outstrip the typical average.
In September of 2021, the District Real Estate Board and MLS system of the city recorded the sales of 305 residential units. While this is 11.6 % less than last September of 2020 when a new history was made, it is still 7 % higher than the 5-year average and 20.3 % above ten-year average for September which proves that the real estate of the city is still on fire.
The monthly sales of September were less than numbers in the 2021 year to date-Sales have increased during the first 9 months of 2020. At the end of September, housing sales in 2021 made a new record of 3,003 units. It is also extraordinary that 37.9 % has increased during the same period of 2020.
Is the housing market of Kamloops affordable?
Currently, the average housing price in the city is $563,829. This is almost 20 percent more than the last year when it was about $472,412. This rise is due to the pandemic. But now the intervention of the government in the real estate market of Kamloops has made its condition much better. It has decreased the mortgage rates which has a direct effect on the price of houses.
Above all these, almost 50 % more houses are sold out from about 1,362 houses in the previous year to 2,049 in 2021.
Houses range from $100k to $300k for sale in Kamloops
Kamloops is a very affordable city as compared to other cities of Canada. You can find a variety of houses in the range from $100 to $300K. All of these houses are available with all accessories and are located in the best areas of the city.
You can buy such a house at 425-444 St Paul Street, Kamloops, BC. The cost of this house is only $ 279,900. It is one bed and one-bath apartment. Likewise, a similar house is available at 505-444 St Paul Street, Kamloops, BC. The cost of this house is only $244,900.
