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Market Update
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The Central
Okanagan Real Estate market continues to show signs of stabilizing
market conditions with the total number of unit sales down 24.2 per
cent at only 341 unit sales, while active inventory climbed by 31.1
per cent over this time last year. Having a closer look, the
breakdown shows the sales of residential building lots is down by
47.8 per cent, town home sales are down by 32 per cent, residential
single family sales are down 30.2 per cent, and apartment style
condominiums are just slightly down by 2.5 per cent. The average
house price for November came in at $415,996, down from October’s
average of $423,488, while the median price for a single family
residential home was $372,000 in November, also down from October’s
median of $384,950.
National consumer
confidence which is a significant indicator in projecting Canada’s
housing market – edged lower in November 2006 to reach the lowest
monthly level so far this year. Consumer confidence has been slowly
trending downward since the beginning of 2006 as exuberance about
making major purchases returns to more normal levels. Thank you for
all your continued and valued support in 2006, and have a safe and
happy holiday season, and best wishes for a prosperous 2007. |
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ACTIVE LISTINGS |
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Res. |
Mobiles |
Strata |
Lots |
|
897 |
84 |
720 |
404 |
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SUMMARY OF
RESIDENTIAL SALES |
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| Price
Range |
2006 |
2005 |
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0 - |
$200,000 |
26 |
107 |
| $200,001 |
$240,000 |
41 |
296 |
| $240,001 |
$280,000 |
171 |
627 |
| $280,001 |
$320,000 |
432 |
620 |
| $320,001 |
$360,000 |
643 |
547 |
| $360,001 |
$400,000 |
595 |
492 |
| $400,001 |
$440,000 |
380 |
271 |
| $440,001 |
$480,000 |
310 |
197 |
| $480,001 |
$520,000 |
246 |
107 |
| $520,001 |
$560,000 |
207 |
84 |
| $560,001 |
$600,000 |
221 |
91 |
| $600,001 |
$999,999 |
444 |
236 |
| $1. Million |
Over |
142 |
46 |
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A FEW MORE REAL
ESTATE STATS! |
| Average
house price : |
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$415,996 |
| Median
house price : |
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$372,000 |
| Number
of houses listed last |
| month: |
239 |
| Number
of lakeshore homes sold |
| last
month: |
9 |
| Average
mobile home price: |
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$99,388 |
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Dollar value of sales in Nov 2006: |
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$112,856,616 |
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Dollar value of sales in Nov 2005: |
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$134,971,652 |
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SALES BY TYPE
Year to Date |
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2006 |
2005 |
| Acreage |
57 |
56 |
| Acreage
with Home |
96 |
100 |
| Acreage
- Waterfront |
3 |
11 |
| Business |
30 |
31 |
| Townhouse |
557 |
653 |
|
Condo |
945 |
1023 |
| Lots
- Waterfront |
13 |
16 |
| Lots |
376 |
471 |
| Duplex |
162 |
154 |
| Farms |
16 |
20 |
| IC
& I |
57 |
56 |
| IC
& I Land |
30 |
31 |
| Leases |
69 |
77 |
| Multi-Family |
10 |
15 |
| Mobile
Homes |
345 |
337 |
| Residential |
2390 |
2632 |
| Residential-Waterfront |
51 |
54 |
| Recreational |
27 |
42 |
| Timeshares |
1 |
3 |
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IF YOU ARE THINKING
OF BUYING OR SELLING, PLEASE GIVE US A CALL!
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Why list over the winter?
· Buyer’s
searching for homes in the winter are serious, often having to
relocate, bringing offers closer to list price.
· Active
inventory is generally lower over the winter, reducing your
competition significantly. Beat the spring inventory rush.
· Take
advantage of your homes seasonal decorations and beautiful white
winter setting to show the true warmth of your home. |
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