BCREA Housing Market Update for January 2013
The BC Real Estate Association released it’s latest video report on the real estate market in British Columbia. BCREA Chief Economist Cameron Muir discusses the residential sales numbers and activity.
BC Home Sales Decline in 2012, BCREA
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Vancouver, BC –January 14, 2013. The British Columbia Real Estate Association (BCREA) reports that a total of 67,637 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during 2012, a decline of 11.8 per cent compared to 2011. Total sales dollar volume declined 19.1 per cent to $34.8 billion over the same period. The annual average MLS® residential price in the province was $514,836 in 2012, down 8.3 per cent from 2011.
“A notable pullback in consumer demand in Vancouver and the Fraser Valley during 2012 was more than enough to offset increases in home sales in the Okanagan, Kootenays and BC Northern regions,” said Cameron Muir, BCREA Chief Economist.
“At least half of the 8 per cent decline in the BC average home price was the result of fewer luxury homes selling in Vancouver and fewer overall Vancouver home sales relative to the rest of the province in 2012.”
In December, BC residential sales dollar volume was down 28.6 per cent to $1.5 billion, compared to December 2011. Residential unit sales declined 26.4 per cent to 3,011 units, while the average MLS® residential price was down 3 per cent to $498,205 over the same period.
Kamloops Home For Sale: 2533 Sandpiper Drive, Oak Hills, Westsyde, B.C. $305,900
Nicely updated level entry rancher with 3 bedrooms, 2 bathrooms, and lots of living space. Updates include windows, internal and external doors, furnace, roof (approx 11 years), some flooring, paint, and light fixtures. There is a nice sized family room with gas fireplace off of the kitchen. Nice private yard with two brick patios and fully fenced that is accessible from the family room. There is an attached carport and RV parking. Located across the street from a park. Nice view of the hills. Short walk to Rivers Trail and transportation. Nearly no stairs in this home! 70 amp service with sub panel. Flexible possession, some notice for showings appreciated.
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Kamloops Home For Sale: 2536 Sandalwood Drive, Oak Hills, Westsyde, B.C. $324,900
Nice 4 bdrm home in a great family oriented neighbourhood minutes to the rivers trail and park. Main floor features hard wood floors throughout, tile in the kitchen & bathroom and laminate in the bedrooms. There are 3 bedrooms and a 4 piece bathroom on main floor. The kitchen overlooks a covered patio and large fully fenced yard. Basement features a good sized rec room with fireplace, den (which opens to the rec room) and 4th very large bdrm. There is roughed-in plumbing in the basement for a wet bar or inlaw suite. There is a separate basement entry with suite potential. Updates include roof 2005, high efficiency furnace 2002, flooring, paint and more. There is no carpet in this home! There is a lane that runs behind the backyard with a gate. There is potential to build a detached shop in the large yard. Beautiful view of Strawberry Hill from front of the home. Very flexible possession.
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