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Market Update
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In the first
quarter of 2006 the real estate market in the Central Okanagan
continues to keep pace with the record numbers set in 2005. The
Central Okanagan had a total sales volume of 567 sales in March 2006
which was almost 1% higher than in March 2005. The majority of these
sales consisted of 257 residential sales and not far behind were
apartment and town home sales with 159 sales. The North Okanagan
real estate market was not as strong with a sales volume decrease of
almost 22% and all other areas of our Real Estate Board were down
almost 9% compared to March 2005. In the Central Okanagan sales for
acreage, apartments, residential waterfront and mobile homes were
all higher than sales in March 2005. All other real estate types of
property sales, including single family, lots, farms and town homes,
were all lower than in March 2005. Affordability and interest rates
are having an effect on what our consumers are buying, especially
first time home buyers, retirement and baby boomer clientele.
Inventory is still limited and the demand is still strong making the
forecast on real estate very good for our spring and summer markets. |
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ACTIVE LISTINGS |
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Res. |
Mobiles |
Strata |
Lots |
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733 |
95 |
608 |
296 |
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SUMMARY OF
RESIDENTIAL SALES |
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| Price
Range |
2006 |
2005 |
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0 - |
$200,000 |
13 |
37 |
| $200,001 |
$240,000 |
15 |
116 |
| $240,001 |
$280,000 |
69 |
184 |
| $280,001 |
$320,000 |
166 |
173 |
| $320,001 |
$360,000 |
188 |
151 |
| $360,001 |
$400,000 |
152 |
130 |
| $400,001 |
$440,000 |
101 |
51 |
| $440,001 |
$480,000 |
64 |
53 |
| $480,001 |
$520,000 |
74 |
24 |
| $520,001 |
$560,000 |
39 |
17 |
| $560,001 |
$600,000 |
45 |
24 |
| $600,001 |
$999,999 |
90 |
48 |
| $1. Million |
Over |
25 |
10 |
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A FEW MORE REAL
ESTATE STATS! |
| Average
house price : |
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$367,287 |
| Median
house price : |
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$340,000 |
| Number
of houses listed last |
| month: |
390 |
| Number
of lakeshore homes sold |
| last
month: |
11 |
| Average
mobile home price: |
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$64,689 |
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Dollar value of sales in Mar 2006: |
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$189,185,853 |
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Dollar value of sales in Mar 2005: |
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$148,618,112 |
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SALES BY TYPE
Year to Date |
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2006 |
2005 |
| Acreage |
21 |
7 |
| Acreage
with Home |
29 |
29 |
| Acreage
- Waterfront |
0 |
3 |
| Business |
7 |
7 |
| Townhouse |
157 |
148 |
|
Condo |
249 |
220 |
| Lots
- Waterfront |
1 |
2 |
| Lots |
129 |
103 |
| Duplex |
44 |
41 |
| Farms |
5 |
7 |
| IC
& I |
12 |
14 |
| IC
& I Land |
3 |
9 |
| Leases |
30 |
17 |
| Multi-Family |
1 |
2 |
| Mobile
Homes |
84 |
76 |
| Residential |
630 |
637 |
| Residential-Waterfront |
18 |
5 |
| Recreational |
10 |
14 |
| Timeshares |
0 |
1 |
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IF YOU ARE THINKING
OF BUYING OR SELLING, PLEASE GIVE US A CALL!
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Royal LePage Kelowna Customer Loyalty Programs
The Brick & Ashley Furniture
Corporate pricing on furniture, appliances and electronics.
Get It Gone Rubbish Removal 10% discount for any rubbish
removal jobs.
Royal LePage Kids Club Discount on 8 local
attractions for families in 2006.
AMJ Campbell & Atlas Van Lines
Corporate rates on local and long distance moves. |
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