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Market Update
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With January behind us and warmer
temperatures ahead, 2007 is off to a positive start. Central
Okanagan statistics for a single family home shows our average house
price has reached $437,146, up 34.9 per cent over this time last
year while the median house price is up 32.5 per cent at $406,000.
Although total inventory of single family homes is up 21.7 percent
at 767 homes currently on the market and total number of homes
listed in January was down 3.2 per cent, sales rose 8.3 per cent
with 170 homes sold in the month of January. British Columbia Real
Estate Association (BCREA) figures indicate the residential sales
volume on the Multiple Listing Service® (MLS®) in BC reached $37.8
billion in 2006, up 7 per cent from 2005. MLS® home sales declined 9
per cent to 96,695 units in 2006, from a record 106,290 unit sales
in 2005. While BC home sales declined last year, 2006 posted the
second-highest number of transactions ever recorded. According to
BCRA, market fundamentals are expected to remain strong through
2007. A robust provincial economy combined with forecasted interest
rate stability will keep home sales above their long-term average. |
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ACTIVE LISTINGS |
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Res. |
Mobiles |
Strata |
Lots |
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767 |
89 |
685 |
444 |
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SUMMARY OF
RESIDENTIAL SALES |
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| Price
Range |
2007 |
2006 |
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0 - |
$200,000 |
1 |
4 |
| $200,001 |
$240,000 |
2 |
4 |
| $240,001 |
$280,000 |
3 |
28 |
| $280,001 |
$320,000 |
15 |
52 |
| $320,001 |
$360,000 |
37 |
64 |
| $360,001 |
$400,000 |
44 |
47 |
| $400,001 |
$440,000 |
40 |
26 |
| $440,001 |
$480,000 |
31 |
15 |
| $480,001 |
$520,000 |
21 |
19 |
| $520,001 |
$560,000 |
18 |
11 |
| $560,001 |
$600,000 |
29 |
18 |
| $600,001 |
$999,999 |
49 |
16 |
| $1. Million |
Over |
13 |
8 |
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A FEW MORE REAL
ESTATE STATS! |
| Average
house price : |
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$437,146 |
| Median
house price : |
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$406,000 |
| Number
of houses listed last |
| month: |
302 |
| Number
of lakeshore homes sold |
| last
month: |
0 |
| Average
mobile home price: |
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$105,755 |
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Dollar value of sales in Jan 2007: |
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$123,318,246 |
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Dollar value of sales in Jan 2006: |
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$113,031,292 |
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SALES BY TYPE
Year to Date |
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2007 |
2006 |
| Acreage |
2 |
7 |
| Acreage
with Home |
3 |
13 |
| Acreage
- Waterfront |
0 |
0 |
| Business |
2 |
3 |
| Townhouse |
40 |
52 |
|
Condo |
78 |
65 |
| Lots
- Waterfront |
0 |
0 |
| Lots |
11 |
33 |
| Duplex |
10 |
7 |
| Farms |
0 |
3 |
| IC
& I |
3 |
3 |
| IC
& I Land |
1 |
1 |
| Leases |
12 |
6 |
| Multi-Family |
1 |
1 |
| Mobile
Homes |
11 |
18 |
| Residential |
170 |
157 |
| Residential-Waterfront |
0 |
3 |
| Recreational |
3 |
0 |
| Timeshares |
1 |
0 |
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IF YOU ARE THINKING
OF BUYING OR SELLING, PLEASE GIVE US A CALL!
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Kelowna 24 hour
Temperature average:
January -3.8
Celsius
February -1.1
Celsius
March 3.6
Celsius
April
8.2 Celsius
May 12.6
Celsius
June
16.3 Celsius
July
19.1 Celsius
August
18.7 Celsius
September
13.6 Celsius
October
7.2 Celsius
November
1.4 Celsius
December
-2.9 Celsius |
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