Kelowna Real Estate Reports - 2011

Housing Market, Rental Listings, Stats & Advice
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admin
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Kelowna Real Estate Reports - 2011

Post by admin » Thu Apr 14, 2011 2:00 pm

Hi Folks,

Here are Real Estate Stats released April 2011 (for the previous month).

Image

Courtesy of Elaine Exley.


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viewtopic.php?f=49&t=3015

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admin
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Re: Kelowna Real Estate Reports - 2011

Post by admin » Thu May 12, 2011 12:25 pm

Hi Folks,

Here are Real Estate Stats released May 2011 (for the previous month).


Image

Courtesy of Elaine Exley.


Access Okanagan Web Services
viewtopic.php?f=49&t=3015

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Re: Kelowna Real Estate Reports - 2011

Post by admin » Sat Jun 18, 2011 11:58 am

Hi Folks,

Here are Real Estate Stats released June 2011 (for the previous month).

Image

Courtesy of Elaine Exley.


Access Okanagan Web Services
viewtopic.php?f=49&t=3015

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admin
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Re: Kelowna Real Estate Reports - 2011

Post by admin » Wed Jul 06, 2011 2:00 pm

Hi Folks,

Here are Real Estate Stats released July 2011 (for the previous month).

Image

Courtesy of Elaine Exley.


Access Okanagan Web Services
viewtopic.php?f=49&t=3015

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admin
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Re: Kelowna Real Estate Reports - 2011

Post by admin » Wed Aug 24, 2011 10:18 am

Hi Folks,

Here are Real Estate Stats released August 2011 (for the previous month).

Image

Courtesy of Elaine Exley.


Access Okanagan Web Services
viewtopic.php?f=49&t=3015

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Re: Kelowna Real Estate Reports - 2011

Post by admin » Thu Sep 22, 2011 10:36 am

Hi Folks,

Here are Real Estate Stats released September 2011 (for the previous month).

Image

Courtesy of Elaine Exley.


Access Okanagan Web Services
viewtopic.php?f=49&t=3015

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Torrent
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December 2011 Market Statistics

Post by Torrent » Mon Jan 23, 2012 10:20 am

Hi everyone

For your information here is an extract from the OMREB December 2011 Market Statistics, which I hope you will find helpful:


Okanagan‐Shuswap Market Ends Year on a Strong Note

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported December 2011 sales activity of all MLS® property types improved over the same month last year as the housing market continued to normalize with prices stabilizing and inventory on the decline at year end.

“As 2011 came to a close, overall sales activity in the recovering Okanagan‐Shuswap market continued to strengthen with moderate but steady improvement during the last two quarters of the year, and showed remarkable resiliency despite ongoing global economic and financial uncertainty,” says Rob Shaw, an active REALTOR® in the North Zone and OMREB Vice President. “Sales in most segments are stable and holding their own compared to 2010, as historically low interest rates continue to positively impact purchasing power and improve affordability for buyers. However, modest economic recovery and job growth have affected disposable income for potential recreation and investment purchasers so these sectors remain sluggish.

“Although listings are trending downward and keeping inventory in check, there is still an ample supply and good selection of properties available in this market,” Shaw notes. “The 686 new residential listings taken Board‐wide for the month of December in both 2011 and 2010 are at 2002 levels (637) and on par with the 10‐year average (679) for this month. However, year‐to‐date listings reported for the 12 months of 2011 (17,619) are 9.8% higher than the 10‐year average (16,491) but similar to pre‐recession levels (17,855 in 2007).”

“Despite concerns about employment, personal debt load and net worth which dampened consumer confidence and slowed overall demand in most BC markets during 2011, OMREB ended the year on a positive note and is moving forward with optimism,” Shaw notes. “A modest improvement is anticipated for 2012 with a slow but steady increase in sales activity, downward trend in listings, and stable home prices for balanced market conditions in our Board area. Ongoing near record low interest rates will keep affordability on an even keel and relieve some of the big purchase apprehension for home buyers across the country this year.”

He adds, “Although tepid economic growth is forecast for our province, the Alberta economy and jobs are expected to improve as the oil patch continues to rebound. We are hopeful that better household balance sheets will free up funds and bring back potential purchasers who are looking for good recreation, investment and retirement opportunities in the Okanagan‐Shuswap. We have already begun to see more interest in these areas with more Europeans and Albertans on the scene for ski vacations over Christmas and New Years.”

Serious buyers are motivated by well‐priced properties and room to negotiate, so Sellers can benefit from working with a professional REALTOR® to price strategically at current values. In this highly competitive market, homes with good curb appeal and listed by sellers with the sharpest pencils are being sold quickly.


Central Okanagan


Condo/Apt
Sales 31
New Listings 87
Current Inventory 766
Sell/Inv. Ratio 4.05%
Days to Sell 166
Average Price $196,066
Median Price $186,500

Condo/Townhouse
Sales 21
New Listings 51
Current Inventory 389
Sell/Inv. Ratio 5.40%
Days to Sell 121
Average Price $324,183
Median Price $310,000

Lots
Sales 6
New Listings 43
Current Inventory 541
Sell/Inv. Ratio 1.11%
Days to Sell 197
Average Price $297,300
Median Price $242,899

Residential
Sales 96
New Listings 179
Current Inventory 1,138
Sell/Inv. Ratio 8.44%
Days to Sell 108
Average Price $451,130
Median Price $424,625



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