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New Construction of multi family units

Friday, February 17th, 2017

Kamloops is continuing to counter province wide trends for real estate, at least for now.

Home sales in B.C., driven by the sagging Lower Mainland market, fell by 23 per cent from the same time last year. The Kamloops region, however, saw an increase in sales of five per cent compared to January last year.

Cameron Muir, chief economist for B.C. Real Estate Association, said some markets are going against the grain. 

“Housing demand across the province returned to long-term average levels last month,” he said in a statement.

“However, regional variations persist, with Victoria posting above average performance and Vancouver falling below the average.”

At the same time, the average price on the multiple listing service (MLS) declined by 17.5 per cent. Kamloops and District Real Estate Association estimated the average sale price for a residential detached home within the city in January was $410,000, a number that is stable. Numbers do vary from month to month due to price range of homes sold but has stayed over $400,000 since last year .

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February is upon us

Thursday, February 2nd, 2017

Flower-Vase-32 Indulge in weekly fresh flowers. With Valentine’s Day this month, the markets will be filled with fresh flowers , not just red roses but tulips and daffodils. Treat your home to a bouquet of fresh-cut blooms once a week to add a little colour — spring may still be a little way off, but that doesn’t mean your coffee or dining table can’t look like a spring garden in bloom!

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Kamloops and District home sales post best annual total in nine years

Monday, January 9th, 2017

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The number of homes sold through the MLS® System of the Kamloops and District Real Estate Association recorded an 11th consecutive double-digit increase in December 2016.

According to the Association’s statistics, home sales totaled 144 units in December 2016, up 28.6 per cent from December 2015. This was the best month of December since 2009.

On an annual basis home sales numbered 3,181 in 2016. This stood 23.6 per cent above 2015 and marked the first year to crack the 3,000 mark since 2007.

“Housing demand in the region remains historically strong,”  “2016 was the best year for the local housing market in almost a decade. Better still, the handoff into 2017 looks even stronger, with higher sales compared to one year ago, and quite a bit less inventory. This should further support prices this year.”

The average price of homes sold in December 2016 was a record $367,591, rising 18.4 per cent from a year earlier. The annual average sale price was $345,528, up 5.9 per cent from 2015.

The dollar value of all home sales in December 2016 was $52.9 million, up 52.3 per cent on a year-over-year basis and a record for the month. This was also the first time volumes had surpassed $50 million in December.

There were 138 new listings on the Association’s MLS® System in December 2016, down 21.1 per cent on a year-over-year basis. This was the lowest December level in 15 years.

Active residential listings on the Association’s MLS® System numbered 1,031 units at the end of December, down 23.1 per cent from a year earlier.

There were 7.2 months of inventory at the end of December 2016, down from 12 months a year earlier and below the long-run average 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.

Sales of all property types numbered 162 units in December, an increase of 33.9 per cent from December 2015. The total value of all properties sold was $58.3 million, up 58.6 per cent from December 2015.

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Happy New Clutter Free Year!

Monday, January 2nd, 2017

images-kitchenJanuary: Kitchen and pantry. Give yourself a fresh start for the new year with a clean kitchen, decluttered cabinets and a healthy pantry and fridge.

  • Toss worn dish towels or cut them up to make rags
  • Sell or give away specialty small appliances and tools you seldom or never use
  • Recycle or toss freebie cups and Tupperware containers without lids
  • Toss expired food and spices
  • Take stock of cookware and dishes; give away or sell pieces you do not need

Habit to cultivate: Clean out the pantry and fridge each week before shopping.

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October Kamloops Median Residential Home Price

Monday, November 7th, 2016

Kamloops only Median Residential Price: (does not include condominiums or mobiles)  $405,000

Kamloops and District Median Residential Price: (includes all areas, not just Kamloops, does not include condominiums or mobiles) $375,000

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Kamloops Real Estate Statistics for August 2016

Sunday, September 11th, 2016

Comparing August 2016 to August 2015

 

Comparative Statistics for Kamloops (Residential Only)

 

  August

2016

 August

2015

  
Number of New Listings 429 392  

UP 9.44%

 
Residential Units Sold 362 264 UP 37.12%
Avg. Days on Market 53 60 DOWN 11.6%
List to Sell Price Ratio 98.18% 97.22%  

UP 0.99%

 
Median

Residential Price

 $419,00 $378,000  

 

UP 10.85%

 

 
Total Monthly Sales $$ $127,636,731 $83,952,683 UP 52.03%
Active Listings 1708 2042 DOWN 16.3%

 

 

 

*The above information is from sources deemed reliable but it should not be relied upon without independent verification.

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End of Summer ideas for your home

Sunday, September 11th, 2016

Say goodbye to summer by adding a few cozy fall touches around your house.

Time to put away the sea shells and nautical themes and bring out the golds, oranges and rusts.

There are so many fun ways to welcome fall into your home and add a splash of color to your front door. It doesn’t take much to make a statement, have fun with the new season.

Enjoy the crisp days, warm sweaters , raking leaves and putting the gardens to bed.

Image result for fall home decorating ideas

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Kamloops Real Estate Market Strong, House median price up

Monday, June 6th, 2016

The city’s real-estate market shows no signs of slowing, with recent numbers indicating residential sales jumped by a third compared to the same month last year.

Statistics from the Kamloops & District Real Estate Association show sales in May were up 36 per cent over last year.

This comes at the same time as supply continues to shrink. The number of listings compared to 2015 is down 15 per cent.

Cyndi Crossley, vice-president of the real-estate board, said the market is being driven by out-of-town buyers.

“In Kamloops, we are seeing buyers coming from the Lower Mainland, and understandably so, due to the sale prices and our affordable housing,” she said.

The B.C. Real Estate Association cites positive employment growth for the trends.

“They say we could see the stats continue as they are for approximately the next eight to 12 months,” Crossley said.

The median price for a single-family home in Kamloops is $405,000. That is influenced in part by 20 homes selling for more than $600,000 in May.

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B.C. and Kamloops real estate has limited inventory and lots of demand

Friday, June 3rd, 2016

New data this week confirms that residential real estate continues to boom in British Columbia.

The BC Real Estate Association’s second quarter housing forecast calls for a record 115,200 units to be sold in 2016 through the MLS, that’s up 12.3 per cent year-over-year to break the previous record set in 2005 (105,600).

Prices are set to surge again, up 20.4 per cent to an average MLS price of $766,600. The outlook for 2017 is for a more modest 3.4 per cent increase.

“Record housing demand has depleted inventories in many urban areas, and the resulting imbalance between supply and demand has pushed home prices considerably higher,” commented Cameron Muir, BCREA Chief Economist.

Inventory will be helped by increased construction with BCREA predicting a 20 per cent rise in new housing starts this year.

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March 2016 Real Estate Statistics Solds up 29% over February

Wednesday, April 6th, 2016

Comparing March 2016 to February 2016

 

Comparative Statistics for Kamloops (Residential Only)

 

March

2016

 February 2016
Number of New Listings 520 422 23.22% UP
Residential Units Sold 256 197 29.95% UP
Avg. Days on Market 70 84 16.67% DOWN
List to Sell Price Ratio 97.54% 97.43% 0.11% UP
Median Residential Price $368,000 $378,000 2.65% DOWN
Total Monthly Sales $$ $86,693,738 $65,085,608 33.20% UP
Active Listings 1675 1560 7.40% UP

 

 

 

*The above information is from sources deemed reliable but it should not be relied upon without independent verification.

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