North Okanagan Real Estate Stats 2012

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November

Excerpts pertaining to the North Okanagan taken from the OMREB December 5th Media Release:

Okanagan‐Shuswap Housing Market Holding Steady

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported November 2012
sales activity of all MLS® property types are down marginally over the same month last year but
have increased compared to January through November, 2011 as the market continues to show
slow but steady improvement.

“Overall sales in the Okanagan‐Shuswap dipped 2% board‐wide compared to last November
while sales year‐to‐date (January through November) were up by 8% over 2011. We are still in
a buyers’ market but there are fewer new listings and the increased sales activity is bringing
inventory down. Market activity has slowed throughout the province as affordability,
particularly for first‐time buyers and higher priced homes, has been impacted by the latest
tightening of credit,” says Rob Shaw, an active REALTOR® in the North Zone and OMREB
President.

“Due to the divergence in our market, sales continue to vary among single family, townhouse
and apartment properties month by month and zone by zone,” he notes. “While sales of all
property types eased off in the Central Okanagan and Shuswap last month – dipping by 5% and
3% ‐‐ the North Okanagan continued to strengthen with overall sales improving by 7%
compared to 2011. Total residential sales from January through November, 2012 showed gains
board‐wide over last year. Once again, the North zone leads the way with 13%, followed by the
Central zone at 6%, and the Shuswap at 2% over 2011.”

North Zone (Predator Ridge to Enderby): Overall sales for November in the North Zone rose
6.9% but sales volumes dipped 7.8% compared to 2011 ‐‐ to 108 units valued at $32.1 million
from 101 at $34.8 million. Total residential sales for November improved 4.6% over last year
(92 valued at $29.2 million versus 88 at $30.7 million). Single family home sales slipped 3.9%
over 2011 to 50 units compared to 52.

Inventory in the North Zone for November was down slightly from last year (‐1.3%) at 2,160
compared to 2,189, while the 200 new listings taken for the month dropped by 14.2% from 233
in 2011.

Year-to-date (January through November), overall sales for the Zone improved 10.5% during
2012 compared to activity during the same period last year ‐‐ to 1,399 units valued at $463.8
million from 1,266 at $437.4 million. Total residential sales to date (1,258) are up 12.5% over
2011 (1,118). Compared to last year at this time, single family residential sales showed the
greatest improvement (up 20.9%).


Condo/Apt
Sales 8
New Listings 21
Average Price $254,869
Median Price $202,500

Condo/Townhouse
Sales 13
New Listings 35
Average Price $255,885
Median Price $252,000

Lots
Sales 7
New Listings 25
Average Price $165,471
Median Price $146,000

Residential
Sales 50
New Listings 68
Average Price $347,886
Median Price $327,000

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Excerpts pertaining to the North Okanagan, taken from the January 4, 2013 Media Release from Okanagan Mainline Real Estate Board (OMREB):


Okanagan‐Shuswap Housing Market Stable at Year‐End

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported December 2012 sales activity of all
MLS® property types is down marginally over the same month last year but has increased year-to-date
compared to 2011, ending the year on a stable note.

Board‐wide (Peachland to Revelstoke): Overall sales in OMREB’s Board area slipped 5.7% during the month of December to 279 units compared to 296 in 2011. Year-to-date (January through December), overall sales Board‐wide improved 7.1% during 2012 compared to last year – rising to 6,095 units valued at $2.2 billion from 5,689 at $2.1
billion. While inventory in December was the same as this time last year at 6,870 units, the 552 new listings taken
for the month dropped 19.5% from 686 in 2011.

North Zone (Predator Ridge to Enderby): Despite leading the Board in growth for most of the year, overall sales
for December in the North Zone dropped 21.5% to 62 units valued at $21.2 million from 79 at $26.9 million in 2011.
Total residential sales for the month were down 27.5% over last year – to 50 units valued at $16.3 million versus 69 at $22.4 million. Single family home sales slipped 20.0% to 28 units compared to 35 in 2011.

Inventory in the North Zone for December rose 2.1% to 1,889 from 1,850 in 2011, while the 92 new listings taken
for the month showed a 28.7% decline over 129 at year‐end last year. Year-to-date (January through December), activity in this Zone remained strong with overall sales improving by 8.6% compared to the same period last year to
1,461 units valued at $484.9 million from 1,345 at $464.3 million. Total residential sales at year‐end are up 10.2%
over 2011. Compared to last year, single family residential sales showed the greatest improvement (up 18.7%), with townhouses close behind (14.6%).

To read the OMREB News Release in it's entirety, please visit their link at:
http://www.omreb.com/files/12%20-%20OMR ... elease.pdf" onclick="window.open(this.href);return false;

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December


Condo/Apt
Sales 7
New Listings 7
Average Price $175,992
Median Price $125,000

Condo/Townhouse
Sales 7
New Listings 10
Average Price $249,571
Median Price $249,000

Lots
Sales 8
New Listings 6
Average Price $221,300
Median Price $164,000

Residential
Sales 28
New Listings 33
Average Price $341,439
Median Price $308,750