Central Okanagan Real Estate Stats 2012

[Torrent]

Hi everyone

Here is an extract from OMREB regarding January's real estate statistics:

The Okanagan Mainline Real Estate Board (OMREB) reported January 2012 sales activity of all
MLS® property types rose marginally over the same month last year as the housing market continues to show
moderate but steady improvement. The statistics are as follows:

Central Zone (Peachland to Lake Country): Overall sales in the Central Zone slipped by 0.9% to 211 units
($74.8 million) compared to 213 ($81.4 million) last January, but improved 15.3% over the 183 units sold in
December. While total residential sales dipped by 3.6% to 189 units compared to 196 sold last January, they
jumped 14.5% from the 165 in December. Single family home sales of 102 units rose 3.0% compared to 99 last
year, and climbed 6.3% compared to December (96). While, January’s inventory of 4,231 units was up 4.0%
compared to 4,067 in 2011, the 902 new listings for the month dipped 1.1% from the 912 last year.

Mortgage rates are expected to stay at or near record lows for most of 2012, and continue to positively impact
purchasing power and improve affordability for buyers. Home prices are forecast to experience little
movement as the supply of homes more closely matches consumer demand moving forward.

[Roo]

Hi Tracy

I was wondering what the average single family home in Kelowna sold for over the last month?

Roo

[Torrent]

Hi Roo

Here is a brief summary of residential sales for single family homes (source: OMREB):

Residential
Sales 102
New Listings 383
Current Inventory 1,261
Average Price $415,358
Median Price $403,600

And here is a summary of some other statistics just in case its of further interest:

Condo/Apt
Sales 40
New Listings 174
Current Inventory 850
Average Price $267,945
Median Price $233,000

Condo/Townhouse
Sales 25
New Listings 105
Current Inventory 429
Average Price $380,372
Median Price $351,000

Lots
Sales 12
New Listings 82
Current Inventory 586
Average Price $171,683
Median Price $171,200

Hope this helps

[Roo]

thanks Tracy

[Torrent]

Most welcome Roo

If you need anything else in particular - just ask

[Torrent]

Hi everyone

Here are the February statistics from OMREB:

Condo/Apt
Sales 54
New Listings 169
Current Inventory 886
Days to Sell 124
Average Price $204,262
Median Price $186,450

Condo/Townhouse
Sales 49
New Listings 130
Current Inventory 474
Days to Sell 103
Average Price $344,138
Median Price $335,500

Lots
Sales 14
New Listings 87
Current Inventory 613
Days to Sell 175
Average Price $182,178
Median Price $172,500

Residential
Sales 130
New Listings 380
Current Inventory 1,351
Days to Sell 83
Average Price $437,267
Median Price $404,950


Happy house hunting

[Torrent]

Hi Everyone, Here are the real estate stats for March:

MARCH 2012 STATS: OKANAGAN-SHUSWAP HOUSING MARKET BRIGHTENS AS SPRING UNFOLDS

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported March 2012 sales activity of all MLS® property types declined compared to the same month last year but improved over the first quarter of 2011 and from last month (February), as the housing market continues to strengthen going into spring.

Home sales were steady in the Okanagan-Shuswap during March with some fluctuations depending on the community and the housing type. Continuing to trend on long-term averages, the modest rise in unit sales reflects the gradual growth in the economy and points toward a brighter seasonal market ahead.

Sales are expected to brighten as the weather starts to improve and people think about moving during the next three months. Residential sales in April, May and June are typically good as many households tend to choose to sell their homes then.

Going forward, OMREB hopes to see renewed interest in the residential, recreation, investment and retirement property opportunities in the Okanagan-Shuswap, as consumer confidence continues to be positively influenced by improving economic and employment conditions in BC and Alberta, and recently introduced government incentives spark more activity in the new home and recreation markets.

With historically low interest rates keeping affordability at an even keel, and prices holding steady in most segments in the Board area, now is an optimum time to buy or to sell. Inventory is declining but new listings and active inventory remain relatively high, and continue to provide a good selection and choice of properties.

Condo/Apt
Sales 78
New Listings 170
Days to Sell 139
Average Price $226,365
Median Price $214,950

Condo/Townhouse
Sales 38
New Listings 112
Days to Sell 123
Average Price $319,861
Median Price $324,700

Lots
Sales 16
New Listings 142
Days to Sell 253
Average Price $267,386
Median Price $243,840

Residential
Sales 167
New Listings 371
Days to Sell 92
Average Price $456,568
Median Price $415,000

SOURCE: OMREB

Nice to see spring has arrived this lovely Easter weekend

Happy Easter everyone!

[Torrent]

Hi everyone

Here is a brief summary of the Central Okanagan real estate statistics for April 2012:

Condo/Apt
Sales 63
New Listings 185
Days to Sell 78
Average Price $220,235
Median Price $209,900

Condo/Townhouse
Sales 49
New Listings 123
Days to Sell 122
Average Price $348,294
Median Price $339,800

Lots
Sales 13
New Listings 85
Days to Sell 177
Average Price $278,192
Median Price $214,999

Residential
Sales 179
New Listings 445
Days to Sell 90
Average Price $482,093
Median Price $435,000


Have a lovely weekend everyone!

[Torrent]

Hi everyone

Here is the release from OMREB regarding the April 2012 stats:

OKANAGAN-SHUSWAP HOUSING MARKET REMAINS STEADY WITH MODEST GAINS

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported April 2012 sales activity of all MLS® property types were up compared to the same month last year and have improved over the first four months of 2011, as the housing market remains steady and continues to see modest gains.

Okanagan-Shuswap home sales saw gradual improvement during April. We continue to see up and down fluctuations in each Zone as there are a lot of dynamics in our area – depending on the community, housing type and price point. Now more than ever, it is important for anyone thinking of buying or selling to ask their REALTOR® how their property type is currently faring in the overall market and, more significantly, in their particular neighbourhood.

In April, sales were the strongest in the North Okanagan with a 30% improvement over 2011 and single family homes saw the most significant gain with a 48% increase in units sold. Overall sales for the month also picked up 18% in the Shuswap, and lot sales jumped significantly over April 2011 – from 2 to 8. In the Central Okanagan, it is encouraging to see a 26% rise in the number of lots sold year-to-date compared to the first four months in 2011. The bump-up indicates that builders and developers are purchasing land in our Board area, and more lots are being listed and added to the inventory.

With significant active inventory plus the expected seasonal increases in listings, and the demand for housing growing at a slow but steady rate reflective of the economy and employment, prices are holding steady in most segments in the Board area.

Working with a real estate professional to understand current local market conditions and to provide comparisons specific to your neighbourhood is essential as home values vary based on property type and location. Pricing continues to be of utmost importance when selling a home. Consult with your REALTOR® to make sure your pricing is strategic and reflective of the current values in your area. Remember that serious buyers are motivated by well-priced properties with great curb appeal and room to negotiate. It is important to have realistic expectations when buying or selling a house. Buyers and sellers must agree to come together if they are serious about closing the deal.

As always, hope this is helpful to know

Have a good week everyone!

[Torrent]

Hi everyone

Where is the sunshine???

Here is a brief summary of May's statistics, released from OMREB:

Condo/Apt
Sales 84
New Listings 261
Days to Sell 123
Average Price $256,794
Median Price $249,000

Condo/Townhouse
Sales 69
New Listings 129
Days to Sell 98
Average Price $344,561
Median Price $335,000

Lots
Sales 23
New Listings 68
Days to Sell 209
Average Price $294,456
Median Price $162,999

Residential
Sales 203
New Listings 518
Days to Sell 85
Average Price $487,167
Median Price $450,000


Bye for now