Downtown Kamloops is growing up! The Kamloops population has grown to reach over 100,000 residents in 2020 and is maintaining a steady growth rate from there. It only makes sense that our downtown community will start to see some changes. You can feel the energy as you drive through the area and see the new development. We have some exciting projects already underway with the Kelson Group breaking ground on City Gardens and the Royal Inland Hospital expansion well underway. I have pulled some more details below from the City of Kamloops and the Association of Interior Realtors Multiple Listing Service® to walk you through the downtown neighbourhood and give you a glimpse at the current real estate market in downtown Kamloops.
About the Community
With a central location well served by major roads and public transit, downtown is an accessible and a frequently visited part of the city. With over 4 km of shoreline along the Thompson and South Thompson Rivers, Downtown is home to many of the city’s most prominent entertainment and cultural amenities, heritage sites, parks, and recreational facilities.
Victoria Street hosts the city’s street-front retail corridor and serves as a key commercial, business, and cultural district for the community. In the South section of downtown you will find a mix of provincial government offices and some of the city’s largest government institutions and facilities, including Royal Inland Hospital and a provincial courthouse.
Downtown also features a diverse mix of residential buildings. Housing in the eastern end is largely composed of single-family homes originally constructed in the early 1900s. In recent years, suites on single-family lots and multi-family development have increased density in the neighbourhood. With several blocks zoned for the highest permitted residential density in the city, the nine-block area bound by 3rd and 6th Avenues, Columbia Street, and St. Paul Street contains a significant stock of multi-family development constructed from the 1960s onward, including a mix of townhouses, apartments, and residential towers up to 14 storeys tall.
In the warmer months, Riverside Park is a hub of activity and a community gathering place. The Park hosts major community events, including Canada Day, Music in the Park, Ribfest and many more. Residents and visitors can walk along the pathways, enjoy the splash park and playground along with tennis courts and a swimming area. Not to mention, the famous Scoopz Ice Cream Parlour. Other major parks in Downtown include Waterfront Park, Pioneer Park and Peterson Creek Park, which features walking and hiking trails connecting Sahali to the Downtown.
Source:
The City of Kamloops Downtown Plan
The City of Kamloops Business & Development Downtown Plan
What is the Real Estate Market Doing Downtown Kamloops?
Market information – Single Family Homes
There were 13 New Listings in April 2022, down 35.00% from last year at 20. Furthermore, there were 9 Sold Listings this month versus last year at 12, a -25.00% decrease. Over the last 12 months this area has had an average of 8 closed sales per month.
Average Sale Price Going Up
According to the preliminary trends, this market area has experienced some upward momentum with the increase of Average Price this month. Prices went up 23.32% in April 2022 to $795,011 versus the previous year at $644,666.
Average Days on Market Shortens
The average number of 23.78 days that homes spent on the market before selling decreased by 53.56 days or 69.25% in April 2022 compared to last year’s same month at 77.33 DOM.
Market Information – Apartments, townhomes and Duplexes
There were 10 New Listings in April 2022, down 50.00% from last year at 20. Over the last 12 months this area has had an average of 12 closed sales per month.
Average Sale Price Going Up
According to the preliminary trends, this market area has experienced some upward momentum with the increase of Average Price this month. Prices went up 55.04% in April 2022 to $558,700 versus the previous year at $360,356.
Average Days on Market Shortens
The average number of 14.14 days that homes spent on the market before selling decreased by 23.36 days or 62.29% in April 2022 compared to last year’s same month at 37.50 DOM.
Resources: Association of Interior Realtors Multiple Listing Service® (MLS®)
Featured Listing Downtown
$1,194,990
Enjoy the downtown lifestyle in this stunning 2010 custom built home. This low maintenance, turn key property will allow you to enjoy the offerings of downtown living. Entertainment, shopping, parks, hiking trails, schools and the Royal Inland Hospital all within a short distance. The modern design features and open concept main floor with an abundance of natural light. The kitchen boasts concrete glass countertops and marble floors throughout. Off the kitchen the double car garage with a built in work bench is plumbed with a sink and has 220 power. Upstairs you will find spectacular views from the balcony off the primary bedroom along with a 5pc ensuite, walk in closet and coffee nook with hardwood floors. Laundry is conveniently placed upstairs and a 4pc bathroom. The two additional bedrooms both access a spacious deck, set up for your future hot tub. There is no shortage of outdoor space to entertain or simply enjoy the stunning views! The basement features a fully finished 2 bedroom, 4 pc bath in-law suite with a separate entry and in-suite laundry. Added insulation between floors to mitigate sound. This property is rare, don’t miss the opportunity to take a look!
Additional information
- House was built in 2010 and I received Final in 2011.
- Hot-water tank was replaced 2021
- Energy efficient furnace with air cleaner performance enhancing filter system
- Insulation between floors
- Concrete glass counter tops
- Kitchen Glass back splash with LED under mount lighting
- Double car garage with built in work bench, plumbed with sink. Built in shelves for extra storage. 220 welding outlet hook up with 20 amp work plugs.
- Natural gas BBQ hook ups
- 10’ main and 9’ foot upper and lower
- Marble flooring on the main floor and hardwod flooring upstairs
- Sound system throughout the house with 4 docking stations
- Primary ensuite has a heated floor
Click here to view all current listings available in Downtown Kamloops.
Check out whats coming up Downtown
https://kamloopscitygardens.ca
https://www.downtownkamloops.com