Kamloops Home For Sale: 320 Alexander Avenue, Kamloops, B.C., $234,900

North Kamloops

320 Alexander Avenue, North Kamloops, Kamloops Real EstateOlder Character home with 4 bedrooms, 1 bath & offers great potential and endless possibilities. This home features hardwood floors throughout the main floor and upstairs, updated bathroom, windows and security system. There is open parking with ample space for many vehicles and an RV. The yard is fully fenced with space to build a detached workshop . The home is centrally located and within walking distance of shopping, schools, transportation and many amenities. Quick Possession and Easy to Show.

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Kamloops Home For Sale: 8-1572 Lorne Street East, South Kamloops, B.C., $89,900

South Kamloops

8-1572 Lorne Street East, South Kamloops, Kamloops Real EstatePrepare to be impressed! This 3 bedroom, 2 full bathroom mobile has been fully renovated. It is tucked away in a private corner of the park with the river off the back deck. The kitchen and dining area is open with rich hardwood floors, new cabinets, counters, pantry and lighting. The kitchen features a skylight and a pass-through window. Down one step is a spacious living room with a full wall of windows to enjoy the river view. A door leads from the living room to the deck and backyard. The master has a full updated 4 piece ensuite, large closet and engineered hardwood floors. Contemporary colors have been carried throughout. Asphalt roof and vinyl siding are just 5 years old and there’s parking for 2 vehicles. 5 appliances (including gas stove) included.

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BC Home Sales on Upward Trajectory, BCREA

B.C. Real Estate News
MLS Residential Sales BC October 2013

Click to enlarge

Vancouver, BC – October 15, 2013.  The British Columbia Real Estate Association (BCREA) reports that a total of 6,498 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during September, up 43.2 per cent from September 2012. Total sales dollar volume was 55.7 per cent higher than a year ago at $3.49 billion. The average MLS® residential price in the province was $537,458, up 8.8 per cent from September 2012.

“Consumer demand for housing in September was the strongest in four years,” said Cameron Muir, BCREA Chief Economist. “After declining for most of 2012, BC home sales have increased now for seven consecutive months.”

“While a return to a more normal level of demand is good news for buyers and sellers, relatively weak economic conditions and muted provincial job growth will likely limit continued acceleration of home sales over the next few quarters,” added Muir.

Year-to-date, BC residential sales dollar volume was up 5.7 per cent to $30 billion, compared to the same period last year. Residential unit sales were up 3.1 per cent to 56,347 units, while the average MLS® residential price was up 2.6 per cent at $532,745.

Home Sales Rise 0.8% in September as Listings Fall, Canadian Average House Price Up 8.8% Despite Higher Rates

National Real Estate News

This article appeared on CBC News on October 15th, 2013.

Canadian home sales posted a small month-over-month increase in September and the national average sale price rose but the number of new listings declined, according to the Canadian Real Estate Association.

Home sales were up just 0.8 per cent from August to September, while overall activity remained on par with the 10-year average in September, CREA said.

However, last month’s sales were up 18.2 per cent compared with September 2012 and the average sale price was up 8.8 per cent to $385,906.

Robert Kavcic, senior economist at BMO Capital Markets, highlighted regional shifts as the reason for the spike from last year.

“Regionally, the big story continues to be the snap-back in Vancouver, where sales were up a towering 64.3% year over year in September,” he said in a note to investors.

However, Kavcic says that stripping out volatile markets like Vancouver and Toronto shows a balanced housing market.

“Any worry about a hard landing in Canadian housing has quickly become a faint memory, and underlying conditions are more balanced than the flashy headline results suggest.”

Looking forward, Kavcic sees a softer market by no need for alarm. “Sales in September 2012 [were] slumping in the wake of stricter mortgage rules,” he said.

The association’s MLS Price Index, which is less volatile as it adjust for the characteristics of houses sold, rose by a more modest 3.1 per cent.

“Year-over-year increases in the sales over the past couple of months highlight how activity softened across much of the country following the introduction of tighter mortgage rules last summer,” said Gregory Klump, CREA’s chief economist.

“While the momentum for sales activity began improving a few months ago, it may be losing steam after having only just climbed back in line with an average of the past 10 years,” he added.

About 340,980 homes have traded hands across the country so far this year, or 1.8 per cent below levels recorded in the first three quarters of 2012.

There were 1.4 per cent fewer newly listed homes in September compared with August, the association said, adding that while the Canadian housing market has tightened, it continues to remain balanced.

Greater Vancouver, Fraser Valley, Calgary, Greater Toronto, London, St. Thomas, Ont., Ottawa and Montreal all saw listing declines.

The Canadian Real Estate Association is one of Canada’s largest single-industry trade associations, representing more than 106,000 realtors working through more than 90 real estate boards and associations.

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