Central Okanagan Real Estate Stats 2013

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Central Okanagan Real Estate Stats 2013

Post by admin » Tue Feb 19, 2013 3:15 pm

To enable you to keep on top of what's happening in the Central Okanagan real estate market, we'll update this thread monthly. These statistics are available through the Okanagan Mainline Real Estate Board.

http://www.omreb.com/page.php?sectionID=2

**Please note that these are average prices and indicate market trending only. They do not reflect actual prices which vary from house to house and area to area. The average sold prices reflect single family homes and don't include residential waterfront properties.


January 2013

Excerpts pertaining to the Central Okanagan, taken from the February 5, 2013 Media Release from Okanagan Mainline Real Estate Board (OMREB):

Okanagan‐Shuswap Housing Market Cautious Going into 2013

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported January 2013 sales activity of all MLS® property types is down over the same month last year but showed an improvement over December.

“Last year, the housing market remained fairly stable for the Okanagan‐Shuswap with a good build‐up in sales in many segments for most of the year and only losing strength during the closing two months,” says Rob Shaw, an active REALTOR® in the North Zone and OMREB President. “This slowdown carried over into January which is typically not a strong month, and can be partially attributed to the dreary winter weather that keeps people indoors.”

Most B.C. markets saw a low level of activity or a decline in sales for the month, replicating the last quarter of 2012 when markets were impacted by the tightening of credit and wavering consumer confidence. “Board-wide, overall sales for the month were down 5% compared to last year at this time. Sales of all property types dropped by 32% in the North Okanagan and 3% in the Shuswap, but the Central Okanagan showed a 4% improvement over January 2012,” Shaw reports. “Due to the divergence in our market areas, sales tend to vary among single family, townhouse and apartment properties month by month and zone by zone. During January, the Central Okanagan showed the greatest strength with a 16% bump in townhouse sales and 5% rise in the sale of single family residential homes. While the Shuswap saw a 5% dip in single family sales, the North Okanagan took a hit this month with a 40% decline in this segment.”

Central Zone (Peachland to Lake Country): During January, overall sales in the Central Zone were up 3.8% over the same month last year and sales volumes improved 17.2% with 219 units valued at $87.7 million compared to 211 at $74.8 million in 2012. Total residential sales for the month rose 4.2% and sales volumes were up 13.5% compared to 2012 to 197 units at $77.8 million from 189 at $68.5 million last January. Single family home sales in January were up 4.9% from 2012 (to 107 units from 102), while townhouse sales improved 16.0% over last year (to 29 from 25).

The 770 new listings taken during January showed a 14.4% decline compared to 900 in 2012, with inventory for the month dropping 8.6% to 3,866 units from 4,231 last year.

To view the entire OMREB release, please visit this link:
http://www.omreb.com/files/01%20-%20OMR ... elease.pdf


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Re: Central Okanagan Real Estate Stats 2013 - January

Post by admin » Tue Feb 19, 2013 3:35 pm

January 2013

Condo/Apt
Sales 37
New Listings 153
Average Price $232,707
Median Price $234,000

Condo/Townhouse
Sales 29
New Listings 104
Average Price $364,217
Median Price $326,500

Lots
Sales 13
New Listings 76
Average Price $251,746
Median Price $265,000

Residential
Sales 107
New Listings 299
Average Price $465,292
Median Price $401,000


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Re: Central Okanagan Real Estate Stats 2013 - February

Post by admin » Sun Mar 24, 2013 8:27 pm

February 2013

Excerpts pertaining to the Central Okanagan, taken from the March 5, 2013 Media Release from Okanagan Mainline Real Estate Board (OMREB):

Okanagan‐Shuswap Housing Market Slow but Stable

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported February 2013 sales activity of all MLS® property types is down over the same month last year but remains fairly stable. During February, most B.C. markets
saw a low level of sales activity with not much change from January as the tighter rules for high ratio mortgages, wavering consumer confidence, and a pull‐back in demand continue to impact buyers.

“The slowdown from late 2012 carried over into January and February which are typically not strong months. While the sluggish winter sales were expected to continue into February, activity started to pick‐up in the Okanagan‐Shuswap during the latter part of the month so we hope to see an increase in calls for showings during March,” says Rob Shaw, an active REALTOR® in the North Zone and OMREB President.

“Overall sales for the month were down 15% Board‐wide compared to last year at this time. While at a lower level than hoped for, sales are steady but tend to vary among property types month by month and zone by zone due to the divergence in our market areas,” Shaw reports. “Sales of all property types dropped by 18% in the Central Okanagan, 10% in the North Okanagan and Shuswap compared to February 2012. The Central zone experienced a 12% decline in the sale of single family residential homes, while the Shuswap and North zones saw 6% and 5% dips in this segment.”

Central Zone (Peachland to Lake Country): During February, overall sales in the Central Zone were down 17.8% and sales volumes dropped 19.9% over the same month last year with 236 units valued at $80.2 million compared to 287 at $100.1 million in 2012. Total residential sales for the month declined 21.8% to 205 units compared to 262 last February.
Single family home sales in February were down 12.3% from 2012 (to 114 units from 130). The 784 new listings taken during February dropped 17.8% compared to 954 in 2012, with inventory for the month down 9.2% to 4,088 units from 4,500 last year.

To view the entire OMREB release, please visit this link:
http://www.omreb.com/files/02%20-%20OMR ... elease.pdf


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Re: Central Okanagan Real Estate Stats 2013 - February

Post by admin » Sun Mar 24, 2013 8:36 pm

February 2013

Condo/Apt
Sales 41
New Listings 134
Average Price $208,366
Median Price $199,500

Condo/Townhouse
Sales 34
New Listings 92
Average Price $348,789
Median Price $344,950

Lots
Sales 15
New Listings 55
Average Price $313,507
Median Price $279,000

Residential
Sales 114
New Listings 357
Average Price $415,845
Median Price $380,000


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Re: Central Okanagan Real Estate Stats 2013 - March

Post by admin » Sun Apr 28, 2013 1:27 pm

March 2013

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

Okanagan‐Shuswap Housing Market Steadies During First Quarter

Kelowna, BC - The Okanagan Mainline Real Estate Board (OMREB) reported March 2013 sales activity of all MLS® property types is down over the same month last year but showed promising first quarter results. “During March, sales in our Board area mirrored activity in most housing markets in the province – remaining fairly flat as reticent buyers continue to be influenced by tighter credit rules affecting affordability, and thereby, reducing the rate of consumer demand,” says Karen Singbeil, an active REALTOR® in the Shuswap Zone and OMREB President. “The market slowdown from late 2012 carried over into the first quarter of 2013 as buyers and sellers continue to sit on the fence, and take a wait and see approach.”

Singbeil reports, “While sales were sluggish in the Okanagan and Shuswap so far this year, they have been showing steady improvement month over month. Sales activity may be slow but it is steady and tends to vary among property types month by month and zone by zone due to the divergence in our three market areas. Homes that are priced well and show well are selling across the Board.”

Central Zone (Peachland to Lake Country):

During March, overall sales in the Central Zone were down 6.3% to 329 units from 351 in 2012. Year‐to‐date, sales slipped 7.7% compared to January through March last year (to 784 from 849). Total residential sales for the month dipped 5.1% to 299 units compared to 315 last year. Single family home sales in March were down 7.8% from 2012 (to 154 units from 167). Townhouse sales improved by 34.2% with 51 units sold this month compared to 38 last year at this time. The 976 new listings taken during March dropped 11.6% compared to 1,104 in 2012, with inventory for the month down 9.4% to 4,316 units from 4,765 last year.


To view the entire OMREB release, please visit this link:
http://www.omreb.com/files/03%20-%20OMR ... ase_V2.pdf


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Re: Central Okanagan Real Estate Stats 2013 - March

Post by admin » Sun Apr 28, 2013 1:48 pm

March 2013

Condo/Apt
Sales 58
New Listings 168
Current Inventory
Average Price $242,295
Median Price $207,500

Condo/Townhouse
Sales 51
New Listings 91
Average Price $345,639
Median Price $317,000

Lots
Sales 17
New Listings 57
Average Price $174,173
Median Price $180,000

Residential
Sales 154
New Listings 477
Average Price $416,363
Median Price $400,066


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Re: Central Okanagan Real Estate Stats 2013 - April

Post by admin » Sat May 25, 2013 10:50 am

April 2013

Excerpts pertaining to the Central Okanagan, taken from the May 3, 2013 Media Release from Okanagan Mainline Real Estate Board (OMREB):

Okanagan‐Shuswap Housing Market Stronger in April

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported April 2013 sales activity of all MLS® property types improved over the same month last year as the housing market strengthened moving into spring.

“Following fairly flat first quarter results province‐wide, during April the Okanagan‐Shuswap market saw a bounce up in sales and consumer demand compared to this time last year,” says Karen Singbeil, an active REALTOR® in the Shuswap Zone and OMREB President. “Although 2013 had a sluggish start, sales in our Board area have seen steady improvement month over‐month, and are currently up year over year. We hope this positive trend continues going forward as buyers and sellers take advantage of the spring market activity.”

Due to the divergence in OMREB’s three market areas, sales activity tends to vary among property types zone by zone, Singbeil notes. “While the Central Okanagan and Shuswap experienced an uptick in April, the North Okanagan remained relatively flat and saw minimal gains.”

Central Zone (Peachland to Lake Country):
During April, overall sales in the Central Zone were up 19.1% to 406 units from 341 in 2012. Year-to-date, unit sales remained the same as for January through April last year at 1,190 units. Total residential sales for the month improved 15.6% to 371 units compared to 321 last year. Single family home sales in April jumped 20.7% from 2012 (to 216 units from 179). The 1,062 new listings taken during the month remained similar to 2012 (1,060), with inventory for the month down 8.5% to 4,524 units from 4,943 last April.

To view the entire OMREB release, please view:
http://www.omreb.com/files/04%20-%20OMR ... elease.pdf


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Re: Central Okanagan Real Estate Stats 2013 - April

Post by admin » Sat May 25, 2013 10:57 am

April 2013

Condo/Apt
Sales 60
New Listings 186
Current Inventory
Average Price $217,504
Median Price $208,612

Condo/Townhouse
Sales 53
New Listings 109
Average Price $349,446
Median Price $331,000

Lots
Sales 21
New Listings 80
Current Inventory
Average Price $284,769
Median Price $210,000

Residential
Sales 216
New Listings 481
Average Price $460,351
Median Price $426,500


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Re: Central Okanagan Real Estate Stats 2013 - May

Post by admin » Sat Jun 29, 2013 3:42 pm

May 2013

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

Okanagan-Shuswap Housing Market Springs Forward

Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported May 2013 sales activity of all MLS® property types continued to improve with modest increases over the same month last year.

“We expected an uptrend in May which is typical of the housing resale market as buyers and sellers take advantage of the warmer weather and spring market activity.” “Units being listed continue to decline. Sellers have recognized that their properties must be priced within the current market conditions in order to obtain a successful sale. A Seller who really does not need to sell is less likely to put their home on the market,” says Karen Singbeil, an active REALTOR® in the Shuswap Zone and OMREB President. “It is evident that some price ranges are moving more quickly than others and that well priced properties attract attention and will sell.”

Due to the divergence in OMREB’s three market areas, sales activity tends to vary among property types zone by zone, Singbeil notes. “While the Central Okanagan experienced a more marked uptick in May, both the North Okanagan and Shuswap remained relatively flat in sales, posting modest gains.”

Central Zone (Peachland to Lake Country):
During May, overall sales in the Central Zone were up 10.8% to 482 units from 435 in 2012. Year-to-date, unit sales remained on par for January through May in 2012 - 1,672 compared to 1625 units.

Total residential sales for the month improved 12% to 444 units compared to 395 last year while the 1,062 new listings taken in the Central Okanagan during the month was a decline of 11.9% compared to 2012 with inventory for the month down 10.3% to 4,737 units from 5,283 last May.

To view the entire OMREB release, please visit this link:
http://www.omreb.com/files/05%20-%20OMR ... elease.pdf" onclick="window.open(this.href);return false;


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Re: Central Okanagan Real Estate Stats 2013 - May

Post by admin » Sat Jun 29, 2013 3:58 pm

May 2013

Condo/Apt
Sales 71
New Listings 222
Average Price $240,466
Median Price $230,000

Condo/Townhouse
Sales 70
New Listings 128
Average Price $339,970
Median Price $341,750

Lots
Sales 25
New Listings 80
Average Price $226,230
Median Price $185,000

Residential
Sales 261
New Listings 451
Average Price $452,615
Median Price $410,000


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