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Market Update
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Another year for
real estate has come and gone. The Central Okanagan statistics for
December 2006 show residential listings climbing 6.5 per cent,
brining the total residential listings to 766, up 32.8 percent over
last years 577. Single family residential sales for December 2006
fell to 106 from 134, down 20.9 per cent from 2005.
British Columbia Real Estate Association (BCREA) figures indicate
the residential sales volume on the Multiple Listing Service® (MLS®)
in BC reached $2.54 billion dollars in November 2006, down 5 per
cent from November 2005. MLS® sales in the province fell to 6,330
units last month from 7,720 units in November 2005, a decline of 18
per cent. The average home price in BC rose to $400,939 in November,
up 16 per cent from the same month last year. “November marked the
fifth straight month that BC home sales fell short of last year’s
record-breaking pace,” noted Cameron Muir, BCREA Chief Economist.
“Fewer home sales and a moderate increase in the inventory of
residential listings are trending the market toward more balance
between buyers and sellers.” Last year, homebuyers were beleaguered
by stiff competition for the best homes in preferred locations.
Today, they are finding a wider choice of homes for sale and have
more time to thoroughly investigate the property before making their
buying decision.
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ACTIVE LISTINGS |
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Res. |
Mobiles |
Strata |
Lots |
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766 |
80 |
666 |
386 |
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SUMMARY OF
RESIDENTIAL SALES |
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| Price
Range |
2006 |
2005 |
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0 - |
$200,000 |
28 |
107 |
| $200,001 |
$240,000 |
42 |
296 |
| $240,001 |
$280,000 |
173 |
627 |
| $280,001 |
$320,000 |
444 |
620 |
| $320,001 |
$360,000 |
668 |
547 |
| $360,001 |
$400,000 |
614 |
492 |
| $400,001 |
$440,000 |
390 |
271 |
| $440,001 |
$480,000 |
322 |
197 |
| $480,001 |
$520,000 |
256 |
107 |
| $520,001 |
$560,000 |
212 |
84 |
| $560,001 |
$600,000 |
228 |
91 |
| $600,001 |
$999,999 |
463 |
236 |
| $1. Million |
Over |
148 |
46 |
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A FEW MORE REAL
ESTATE STATS! |
| Average
house price : |
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$425,263 |
| Median
house price : |
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$379,500 |
| Number
of houses listed last |
| month: |
283 |
| Number
of lakeshore homes sold |
| last
month: |
2 |
| Average
mobile home price: |
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$76,430 |
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Dollar value of sales in Dec 2006: |
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$86,572,929 |
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Dollar value of sales in Dec 2005: |
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$97,963,291 |
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SALES BY TYPE
Year to Date |
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2006 |
2005 |
| Acreage |
60 |
59 |
| Acreage
with Home |
100 |
107 |
| Acreage
- Waterfront |
3 |
11 |
| Business |
32 |
32 |
| Townhouse |
589 |
688 |
|
Condo |
990 |
1076 |
| Lots
- Waterfront |
13 |
16 |
| Lots |
384 |
494 |
| Duplex |
166 |
162 |
| Farms |
18 |
20 |
| IC
& I |
62 |
62 |
| IC
& I Land |
15 |
19 |
| Leases |
72 |
83 |
| Multi-Family |
10 |
18 |
| Mobile
Homes |
355 |
354 |
| Residential |
2497 |
2766 |
| Residential-Waterfront |
53 |
57 |
| Recreational |
28 |
42 |
| Timeshares |
2 |
3 |
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IF YOU ARE THINKING
OF BUYING OR SELLING, PLEASE GIVE US A CALL!
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CENTRAL
OKANAGAN Continues to grow.
Local Populations
· Kelowna
111,000 approx
· Lake
Country
10,668 approx
· Peachland
5,369 approx
· Ellison
(&East) 4,290 approx
· Westside
39,924 approx
The population
of the Westside has now exceeded both Vernon (36,785) and Penticton
(34,669)
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