Archives for September 2019

Catalpa Community – Fundraising Homes

UPDATE: Homes are now live on MLS – click here to have a peek at the one of the newest communities in Kamloops. 

A very new, exciting development is coming shortly to Brocklehurst in Kamloops – Catalphttps://www.indybal.com/?page_id=2195&previa Community.

As announced in May earlier this year, the Cooper Family Foundation is reconstructing the old Bowler Time location to create a permanent home for the  Kamloops Search and Rescue & SRD K9 Unit. The  most recent project, Catalpa consisting of 73 new homes along Ord Road in Brocklehurst will be sold with $10,000 from each sale (that’s $730,000!) to be donated to the Cooper Foundation for renovations and upgrades of the new Search and Rescue site.

The long time auto yard that was sold in 2018 has been completely overhauled to make way for this new development. The development will be made up of  level-entry homes, two styles of ranchers, two layouts of single-family homes and a duplex.  Phase 1 is slotted to begin sales starting at $399 on Friday, Sept 27/2019.  For more information about the sales and phase plans – please visit www.catalpacommuity.com

Not familiar with the Cooper Family Foundation?

The Foundation was started in 2017 by the Cooper family, which was behind the Cooper’s Foods stores that could be found in every neighbourhood across the city for the last several decades. In 1999, the family sold the grocery store chain to Overwaitea and over the past 20 years has been involved in property development.  Their first of the Foundation’s fundraising  endeavours was  last year’s silent auction of a new home in Aberdeen. The  money raised went towards the  $1.4-million expansion at the Marjorie Snowden Willoughby Memorial Hospice Home, located in Sa-Hali.

 

UPDATE OCT 17/19

Phase 1 was released with with pricing starting at $399,900 up to $459,900. Head on over to their website to see the floor plans, site plan and color schemes. Very nice neutral colors have been chosen for the outside of the units which will leave to a very nice cohesive neighborhood feel. Families will love the set up of the homes with detached buildings set in a loop – safe for young & older children!

 

 

 

August 2019 Market Statistics

September is here and school is back in session – if you’re anything like my house the adults jumped for joy the moment the kids were out the door. Overall the summer season was a busy one, not just for my own personal life but for real estate in Kamloops. Over the month of July and August there was 382 homes sold in the Kamloops area alone. While this is a reduction from the 2018 year, this calendar year has been a slower market which has been an overall good thing for the residents here. Seller’s have had more opportunity to view potential homes to purchase prior to their home receiving an offer and for Buyer’s this has meant the chance of seeing multiple homes before deciding on a property to make an offer on. 

In market news, the Bank of Canada has chosen to hold the bench mark interest rate at 1.75%, the rate that has been set since October of last year.  For those of you who are not familiar with the BOC’s interest rates, generally speaking, the bank will cut its rate to stimulate the economy, and it will raise the rate in order to calm inflation. Ultimately it would appear at this time that this is a good sign the market has been tamed and the economy does not require stimulation at this point either. The Bank will meet again next month to re-evaluate.

If you are ready to begin your home search, head on over to my listing notifications page and sign up to receive daily alerts when a new listing or price chan

Please don’t hesitate to give me a call on my cell if you have any questions about the Kamloops market and what the current market trends may mean for you.

  Aug 2018 Aug 2019
NEW LISTINGS 503 508
TOTAL SALES 357 328
AVG. RESIDENTIAL PRICE $467,500 $510,000
AVG. DAYS ON MARKET 52 48
ACTIVE LISTINGS 1856 1925