Author: Kirsten Mason

“The Unusual World of Pandemic Economics”: Why BC’s Housing Market Remains Strong Despite COVID-19, BCREA

B.C. Real Estate News, Kamloops Real Estate Statistics, Uncategorized

Vancouver, BC – Septemeber 9, 2020. The British Columbia Real Estate Association’s (BCREA) latest Market Intelligence report, The Unusual World of Pandemic Economics, points to uneven job losses across sectors, an increase in many households’ rate of savings, swift government aid, a tighter-than-ever housing supply and low interest rates as the drivers behind BC’s recent housing market highs.

“The COVID-19 recession has battered many sectors of the BC economy. However, looking at recent data in the housing market, it would be difficult to tell there was a recession at all,” says BCREA Chief Economist Brendon Ogmundson. “In a typical recession, we would see falling demand and rising supply, but this recession is anything but typical.”

Previous BCREA forecasts anticipated housing prices would return to the pre-COVID-19 baseline in early 2021. However, a surge of pent-up demand into an undersupplied market has prices at pre-COVID-19 levels well ahead of schedule.

“Pandemic economics are proving to be very unusual. Many of the trends we are seeing are without precedent and significant uncertainty remains, but we are cautiously optimistic that this housing recovery will continue,” notes Ogmundson.

To read the full report, click here. For the PDF of this news release click here.

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

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BC Housing Markets Heat Up as Summer Ends, BCREA

B.C. Real Estate News, Kamloops Real Estate Statistics

Vancouver, BC – September 14, 2020. The British Columbia Real Estate Association (BCREA) reports that a total of 10,172 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in August 2020, an increase of 42.8 per cent from August 2019. The average MLS® residential price in BC was $771,309, a 12.7 per cent increase from $684,093 recorded the previous year. Total sales dollar volume in August was $7.8 billion, a 61.1 per cent increase over 2019.

MLS Residential home sales August 2020 BC Real Estate sold property Kamloops realty

“Very strong provincial home sales continued in August,” said BCREA Chief Economist Brendon Ogmundson. “While pent-up demand from the spring is driving much of the increase, we anticipate a sustained strong level of sales through the fall.”

Total provincial active listings are still down more than 10 per cent year-over-year, with some markets even more under-supplied as the pandemic continues to keep listings low. As a result, prices are sharply rising around the province.

Year-to-date, BC residential sales dollar volume was up 15.8 per cent to $40.4 billion, compared with the same period in 2019. Residential unit sales were up 4.9 per cent to 53,336 units, while the average MLS® residential price was up 10.4 per cent to $757,504.

BC statistics information home sales around the province August 2020 sale stats Kamloops

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: 481 Edinburgh Blvd, Aberdeen, Kamloops, BC, $889,900

Aberdeen

481 Edinburgh Blvd, Aberdeen, Kamloops Real Estate for Sale

New Listing: 481 Edinburgh Blvd, Aberdeen, Kamloops, BC, $889,900. Brand new custom design 2 story home with 4 bedrooms and laundry on the top floor.

Spacious main floor has open plan living including expansive floor spaces.  Oversized kitchen has a walk in pantry and quartz counters and large center island.  Garage has an alcove for storage or a small workshop area.  Home comes landscaped and is also zoned for a legal suite.

End of April possession.  Still time to choose colours and finishings.

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New Listing: 1553 Westerdale Drive, Aberdeen, Kamloops, BC, $1,149,900

Aberdeen

1553 Westerdale Dr, Aberdeen, Kamloops Real Estate Sold

New Listing: 1553 Westerdale Drive, Aberdeen, Kamloops, BC, $1,149,900. Stunning Adobe style home in a highly sought after location featuring a number of updates throughout, a super private yard with gorgeous in ground pool and separate guest house.

This home has updated engineered hardwood throughout the main floors. There is an open floor plan with large kitchen including gas stove, dining room and beautiful living room space. The living room has high ceilings, gas fireplace and beautiful beam features. The main floor also includes a guest bedroom, 4 piece bathroom, large family room that walks out to the covered back patio, pool and yard. There is a second gas fireplace in the family room.

The master suite is so private and located in its own section of the home. It includes a gas fireplace, a huge ensuite with steam shower, separate soaker tub and large walk in closet. There is a spacious private patio off of the master overlooking the yard.

The basement level includes 2 additional bedrooms, a laundry room, a games room and a large theatre room with stadium seating and projector system. There is also a fully updated 4 piece bathroom on the basement level.

The yard is absolutely stunning with saltwater in ground pool installed 2017, gorgeous landscaping with a lot of pavers for pathways, nice deck spaces with BBQ area for entertaining, hook up for a hot tub.

Updates to this home include: outside of house painted 2018, landscaping 2017, new pool house 2017, barn doors in basement and much more. Other features: hook ups for main floor laundry, sound throughout the home and outdoors, the guest house has water, sewer and gas ready for a bathroom and kitchen install, backs on to greenspace with access to the Aberdeen loop trail. The guest house is entirely separate and would be great for a student, art studio or home office if you didn’t want to use as a rental. It has baseboard heat and is good to use year round.

The sellers would consider including the following with the sale: theatre equipment & furniture, audio receiver, garage shelving, patio furniture, Napoleon BBQ and more. There is matching hardwood available for the basement level through Bridgeport. Contact the listing agent for more info on inclusions and features.

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