New Listing: 1047 Selkirk Ave, North Kamloops, BC, V2B 1V4, $424,900

North Kamloops

1047 Selkirk Ave, Brockelhurst, Kamloops Real Estate SoldNew Listing: 1047 Selkirk Ave, North Kamloops, BC, V2B 1V4, $424,900

This well kept North Kamloops home for sale is perfect for first time home buyers or those looking to downsize. The main floor features the living room, dining room and kitchen as well as 3 bedrooms and a 4-piece bathroom. The basement has an additional bedroom plus a large family room that could be used as a fifth bedroom if needed, plus a 3-piece bathroom, laundry and storage space.

The yard is fully fenced with a covered patio, lots of grass space for kids or pets to play and a storage shed. There is plenty of parking in front of the home available plus alleyway access to back yard provides extra parking for vehicles and toys. Great central location close to shopping and transit. Central A/C, underground sprinklers, security system and all appliances included. Day before notice needed for shift worker. End of June possession preferred.

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New Listing: 3553 Westsyde Road, Kamloops, BC, $424,900

Westsyde

This bright 3 bedroom 2 bathroom home for sale is situated on a large flat lot in Westsyde. The back yard is fully fenced for your kids and dog to run around. Tons of parking for vehicles and an RV trailer, also wide access to drive through to the back yard is possible. Build your dream shop (with city approval).

The main floor is finished with a nice open concept and the bathroom has been updated. Basement has a 3 piece bath and a den roughed in, the rest is open space ready for your ideas. Suite potential with separate back entrance. Perfect for first time buyers or down sizers. Close to shopping, schools, and the golf course.

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BCREA Market Intelligence Report for COVID-19

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

The latest BCREA Market Intelligence Report: Sketching Out the Potential Impact of COVID-19 on the BC Housing Market explores the potential impacts of COVID-19 on BC home sales and prices through 2020. Click here to read the full report.

Summary Findings:

  • While it’s unknown how the unfolding COVID-19 outbreak will impact the economy in the long-term, BC is facing a sudden stop in economic activity with little guidance to when things may return to normal.
  • Based on our scenario analysis, BC home sales and prices will likely face declines in the spring and early summer but should recover along with the wider economy in the second half of the year, contingent on the outbreak resolving.
  • The postponed change to the mortgage stress test rate, originally slated for April 6, 2020, will mute the impact of falling interest rates for the BC housing market.

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BCREA Housing Market Update for March 2020

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

BC Real Estate Association (BCREA) Chief Economist Brendon Ogmundson has released the latest housing market update for March 2020 where he discusses the February 2020 statistics.

Kamloops for the month of February had a 5% increase in the number of unit sales which equated to 189 units sold. The average price was $427,103 which is a 1.1% increase year over year. At month’s end, Kamloops had a 2% year over year change in the number of listings which equaled a 5 month supply of homes on the market.

I suspect we will see a drop in both the volume of sales and listings due to the Covid-19 outbreak. However it appears that it will be more of a shorter downturn (months) rather than a long term event (years). As buyers and sellers adjust to the new normal there will be some uncertainty in the market. BCREA suggests that the market should recover in the later part of the year.

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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