BCREA: Rising Mortgage Rates Continue to Slow Market Activity

Vancouver, BC – June 13, 2022. The British Columbia Real Estate Association (BCREA) reports that a total of 8,214 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in May 2022, a decrease of 35.1 per cent from May 2021. The average MLS® residential price in BC was $1 million, a 9.3 per cent increase from $915,392 recorded in May 2021. Total sales dollar volume was $8.2 billion, a 29.1 per cent decline from the same time last year.

“Canadian mortgage rates continue to climb,” said BCREA Chief Economist Brendon Ogmundson. “The average 5-year fixed mortgage rate reached 4.49 per cent in June. That is the highest mortgage rates have been since 2009.”

Provincial active listings were 4.4 per cent higher than this time last year, the first year-over-year increase in active listings since 2019. However, active listings still remain below what is typical for a balanced market, though current market conditions have a high degree of variation across regions and product types.

Year-to-date, BC residential sales dollar volume was down 14.5 per cent to $46.7 billion, compared with the same period in 2021. Residential unit sales were down 26.3 per cent to 43,921 units, while the average MLS® residential price was up 16 per cent to $1.06 million.

Click here to visit to BCREA’s website. To view other statistics for the Kamloops and BC real estate market click here.

If you want to be kept informed on Kamloops Real Estate, News and more visit our Facebook Page.

To search for Kamloops real estate and homes for sale click here.

New Listing: 1958 Glenwod Dr, Valleyview, Kamloops, BC $674,900

1958 Glenwood Dr, Valleyview, Kamloops Real Estate for Sale

New Listing: 1958 Glenwod Dr, Valleyview, Kamloops, BC $674,900. Prime family home location in Valleyview has 3 bedrooms up plus excellent potential for a 1 or 2 bedroom suite with separate entrance.

Vaulted ceiling and skylight in livingroom/dining room overlooking backyard. Hardwood and tile floors in main living area. 4-pce bath has separate shower and tub.  Large deck and flat, fully fenced backyard with cherry, concord grape and apple trees – perfect for family entertaining. Single car garage with higher ceiling, excellent driveway parking. Storage shed.  U/G sprinklers front and back.  

Updates include roof, gutters & soffits (2016), a/c (2016), N/G fireplace up (2016) and 125 amp service. Tons of storage in basement. Close to Valleyview commercial area for shopping, recreation, transit, restaurants and 3 schools (Marion Schilling, Ralph Bell and Valleyview Secondary).  End of June possession appreciated.  Offers presented on Monday, Apr 25 at 6:00.

Click Here to view more photos of this home.

To view all homes for sale in Kamloops click here.

To view more about the neighborhood click here

New Listing: 2287 Sifton Ave, Aberdeen, Kamloops, BC $799,000

New Listing: 2287 Sifton Ave, Aberdeen, Kamloops, BC $799,000. Beautifully updated Aberdeen home that has it all: basement suite, great yard and large 22×27 detached shop with potential for a carriage home.

This level entry home has a 2 car carport off the front of it with lovely landscaping. The main entry has a large closet and leads to the living room with upgraded flooring, gas fireplace and lots of windows. There is a nice formal dining room space that leads to the recently updated kitchen with upgraded stainless steel appliances. Walk out to the large deck off of the kitchen with eastern views of the hillside. The main floor features 2 good sized bedrooms, the primary bedroom has it’s own 3 piece ensuite. There is an additional 4 piece main bathroom.

The basement level is a full daylight walk out. There are a number of updates throughout the basement level including some flooring, light fixtures and kitchen counters. There are 2 bedrooms in the basement (1 doesn’t have a window) and a full bathroom. There is potential for the main floor to take some of the basement space for use of the main floor while renting the suite. There is a covered deck off the basement level which leads to the yard space.

The yard itself is beautifully landscaped, has irrigation and is partially fenced. There are a number of fruit trees and garden beds plus a chicken coop (seller would leave chickens with the house if buyer wishes). The detached shop is large with over height ceiling and has it’s own road frontage. Potential for a carriage house! Lots of parking for all your toys.

The updates include: deck and rails 2014, main floor appliances, kitchen reno 2021, exterior siding & window frames painted 2019, soffits, gutters & downpipes updated, window in main floor French door, paint throughout, all main floor flooring, main floor light fixtures. Please refer to showing schedule for available times to view.

Seller will consider offers on October 18, 2021.

Click Here to view more photos of this home.

To view all homes for sale in Kamloops click here.

To view more about the neighborhood click here

New Listing: 1-1970 Braeview Pl, Aberdeen, Kamloops, BC $449900

1-1970 Braeview Pl, Aberdeen, Kamloops Real Estate Sold

New Listing: 1-1970 Braeview Pl, Aberdeen, Kamloops, BC $449900 Centrally located, 3 bedroom, 2 bathroom Braeview townhouse end unit with 3 parking stalls and no rental restriction! This home has a lovely view over the river valley. There is a 2 car tandem garage with potential for future development and 1 small car parking stall in the driveway.

The main living space is open and features tons of room for all your furniture. The kitchen includes lots of cabinet space and a centre island. Walk off the dining room space to a large oversized deck that backs on to a grassy spot, perfect for privacy or if you have pets. The living room has large windows to take in the views.

The top level features 3 good sized bedrooms including the primary suite which has a 4 piece ensuite and lots of closet space. The two additional bedrooms both have good sized closets, there is a 4 piece bathroom and laundry.

This development is located minutes to all of the city amenities, transportation and shopping. Great home for a first timer, downsize or investment. The seller can ONLY accommodate a longer possession, no sooner than March 2022.

Click Here to view more photos of this home.

To view all homes for sale in Kamloops click here.

To view more about the neighborhood click here

1 2 3 4 10