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The HOLM Stretch | September 6, 2024
Chris Holm & Associates
We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan. We are a true real estate co...
We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan. We are a true real estate co...
Thanks for stopping by!
The BoC rate cut: What it could mean for you
The Bank of Canada has lowered its policy interest rate by 25 basis points, bringing it down to 4.25%.
This marks the third rate cut this year, and economists expect more reductions through the end of 2024.
With inflation now at 2.5%—its lowest in over three years—the focus is shifting toward supporting economic growth. Experts from TD and Scotiabank are already predicting the rate could drop to 3.75% by the end of the year.
👉 If you're a homeowner with a variable-rate mortgage, this means some immediate relief, with monthly payments expected to decrease slightly. However, as mortgage expert Victor Tran from Rates.ca notes, affordability challenges remain, and fixed-rate mortgage holders will only feel the impact when it’s time to renew.
👉 If you're considering buying, this latest rate cut could open up new opportunities. With rising inventory and lower borrowing costs, this fall may present a favourable time to re-enter the market.
As always, let us know if you have any questions or need further insights.
Scroll down for our regular real estate and community features.
Talk soon,
Chris, Patric, Julie, Jasmine, Kristi & Brell
THE TEAM AT CHRIS HOLM & ASSOCIATES
In North Okanagan Real Estate
As of the morning of Friday Sept 6, there are 1022 homes showing as active listings here in North Okanagan. On August 30, there were 1030 homes active.
Sales ranged from $210,000. to $1,350,000. Days to sell ranged from 13 to 166. 22 listings expired, 24 were cancelled.
40 prices were reduced over the last week. 1 price increased.
Scroll down for our market recap for Vernon, Armstrong, and Coldstream real estate activity in the last 7 days.
$210,000.
Low Sale
50
New Listings
$1,350,000.
High Sale
22
Listings Sold
JUST LISTED
Spallumcheen BC Real Estate | 1560 Reservoir Road
Get the details on this 5 bedroom 3 bath home on 1.80 acres with pool in Spallumcheen....
JUST SOLD
Armstrong BC Real Estate | 2855 Fowler Street
SOLD!! Explore this 3 bedroom 2 bath Armstrong real estate opportunity....
ICYMI...
PICKS OF THE WEEK
WHAT'S HAPPENING?
WHAT ELSE WE ARE TALKING ABOUT
DON'T PANIC
Is your home not selling as quickly as you hoped?
Don’t panic.
Our new blog post offers practical advice and encouragement for this common challenge.Discover how to reassess your strategy, enhance your home's appeal, and explore alternative options if you get stuck on the market.
What Happens If My Home Doesn't Sell?
Discover practical steps and encouragement for homeowners facing the challenge of a home t...
MAKING TRACKS
World-class mountain bike park at Kamloops ski hill - Making Tracks
At least once a summer, Southern Interior mountain bikers should head to Sun Peaks Resort ...
WEEKLY REAL ESTATE REPORT
Armstrong BC Real Estate Recap
A look at Armstrong Spallumcheen Market Activity for the last 7 days.
8
New Listings
4
Listings Sold
0
Price Up
3
Price Down
Vernon BC Real Estate Recap
A look at the Vernon market activity in the last 7 days
29
New Listings
16
Listings Sold
1
Price Up
30
Price Down
Coldstream BC Real Estate Recap
A look at Coldstream market activity over the last 7 days
5
New Listings
0
Listings Sold
0
Price Up
3
Price Down