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Market Update
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With the Central Okanagan in its
full summer season splendor, the local real estate market continues
its steady journey with residential listings increasing 19 percent
to 461 in the month of June over last years 387 in June. Sales of
the same residential homes also increased by 33.4 percent from 242
last June to 323 in June 2007. The average price of a single family
residential home to date for 2007 is $464,430 while the same home
sold on average in June 2007 for $504,912.
The resale housing
industry in Canada generated more than 158,000 jobs and an average
of $15.3 billion annually in the period from 2004 and 2006,
according to a study prepared for CREA by Altus Clayton. The report
also says that each residential MLS® transaction in BC between 2004
and 2006 generated a $40,450 in additional spending, the highest in
the country. This figure includes the purchase of furniture and
appliances, moving costs, renovations, services and taxes. |
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ACTIVE LISTINGS |
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Res. |
Mobiles |
Strata |
Lots |
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956 |
136 |
712 |
469 |
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SUMMARY OF
RESIDENTIAL SALES |
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| Price
Range |
2007 |
2006 |
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0 - |
$200,000 |
6 |
23 |
| $200,001 |
$240,000 |
12 |
28 |
| $240,001 |
$280,000 |
40 |
126 |
| $280,001 |
$320,000 |
104 |
224 |
| $320,001 |
$360,000 |
254 |
262 |
| $360,001 |
$400,000 |
240 |
246 |
| $400,001 |
$440,000 |
244 |
154 |
| $440,001 |
$480,000 |
178 |
78 |
| $480,001 |
$520,000 |
128 |
76 |
| $520,001 |
$560,000 |
85 |
35 |
| $560,001 |
$600,000 |
91 |
40 |
| $600,001 |
$999,999 |
202 |
74 |
| $1. Million |
Over |
53 |
31 |
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A FEW MORE REAL
ESTATE STATS! |
| Average
house price : |
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$504,912 |
| Median
house price : |
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$449,000 |
| Number
of houses listed last |
| month: |
461 |
| Number
of lakeshore homes sold |
| last
month: |
10 |
| Average
mobile home price: |
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$106,729 |
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Dollar value of sales in June 2007: |
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$284,111,712 |
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Dollar value of sales in June 2006: |
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$177,813,984 |
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SALES BY TYPE
Year to Date |
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2007 |
2006 |
| Acreage |
5 |
4 |
| Acreage
with Home |
53 |
64 |
| Acreage
- Waterfront |
23 |
34 |
| Business |
17 |
15 |
| Townhouse |
411 |
324 |
|
Condo |
698 |
521 |
| Lots
- Waterfront |
4 |
7 |
| Lots |
152 |
233 |
| Duplex |
126 |
98 |
| Farms |
10 |
10 |
| IC
& I |
124 |
108 |
| IC
& I Land |
16 |
10 |
| Leases |
59 |
52 |
| Multi-Family |
5 |
4 |
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Mobile Homes |
149 |
182 |
| Residential |
1613 |
1366 |
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Residential Waterft |
30 |
31 |
| Recreational |
32 |
16 |
| Timeshares |
4 |
0 |
| Multi Plex |
10 |
4 |
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IF YOU ARE THINKING
OF BUYING OR SELLING, PLEASE GIVE US A CALL!
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Royal LePage Place
Grand Opening:
Royal LePage
Place will be the home of the Westside Warriors hockey team. It is a
state of the art facility offering many unique features. The seating
design plans for great sightlines and in-your-face action from every
seat in the house. It will have a maximum capacity of 1520 plus
standing room. It is located at the foot of Mt Boucherie, next to
the high school and community center. Royal LePage Place will also
be used for many other events including concerts, trade shows, and
various community gatherings. Opening September 2007. |
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