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Market Update
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With the
holidays just around the corner, the central Okanagan real estate
market is holding steady. Total unit sales in October 2006 were at
406 virtually mirroring October 2005 at 407. Inventory numbers are
on the rise with a 26.3% increase over this time last year, at 2,720
total active listings. Current single family residential listings
are up 26.4% at 935 units vs. 740 units for the same time last year.
An increase in new listings and recent home price increases are
expected to continue to prompt some homebuyers to take more time to
shop before buying and gradually cool sales activity over the rest
of the year and in 2007. Average price for a single family house in
the Central Okanagan is $423,488 while the median price for a single
family house is $384,950. The Bank of Canada held its benchmark
overnight lending rate steady at 4.25 per cent on October 17th. The
trend-setting Bank rate, which is set 0.25 percentage points above
the overnight lending rate, remains at 4.5 per cent. As the Real
Estate market continues on a path towards a balance, the time for
accurate property evaluations and correct pricing, is more important
than ever to ensure your competitive edge. |
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ACTIVE LISTINGS |
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Res. |
Mobiles |
Strata |
Lots |
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935 |
88 |
699 |
328 |
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SUMMARY OF
RESIDENTIAL SALES |
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| Price
Range |
2006 |
2005 |
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0 - |
$200,000 |
25 |
105 |
| $200,001 |
$240,000 |
38 |
286 |
| $240,001 |
$280,000 |
159 |
599 |
| $280,001 |
$320,000 |
418 |
586 |
| $320,001 |
$360,000 |
612 |
510 |
| $360,001 |
$400,000 |
557 |
463 |
| $400,001 |
$440,000 |
359 |
249 |
| $440,001 |
$480,000 |
293 |
186 |
| $480,001 |
$520,000 |
224 |
99 |
| $520,001 |
$560,000 |
188 |
77 |
| $560,001 |
$600,000 |
207 |
86 |
| $600,001 |
$999,999 |
409 |
218 |
| $1. Million |
Over |
130 |
43 |
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A FEW MORE REAL
ESTATE STATS! |
| Average
house price : |
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$423,488 |
| Median
house price : |
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$384,950 |
| Number
of houses listed last |
| month: |
359 |
| Number
of lakeshore homes sold |
| last
month: |
8 |
| Average
mobile home price: |
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$75,140 |
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Dollar value of sales in Oct 2006: |
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$142,658,440 |
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Dollar value of sales in Oct 2005: |
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$119,641,553 |
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SALES BY TYPE
Year to Date |
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2006 |
2005 |
| Acreage |
54 |
50 |
| Acreage
with Home |
92 |
94 |
| Acreage
- Waterfront |
3 |
11 |
| Business |
27 |
28 |
| Townhouse |
522 |
603 |
|
Condo |
868 |
944 |
| Lots
- Waterfront |
12 |
16 |
| Lots |
365 |
448 |
| Duplex |
144 |
146 |
| Farms |
15 |
19 |
| IC
& I |
50 |
50 |
| IC
& I Land |
27 |
28 |
| Leases |
64 |
63 |
| Multi-Family |
10 |
11 |
| Mobile
Homes |
321 |
310 |
| Residential |
2244 |
2420 |
| Residential-Waterfront |
49 |
51 |
| Recreational |
24 |
36 |
| Timeshares |
1 |
2 |
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IF YOU ARE THINKING
OF BUYING OR SELLING, PLEASE GIVE US A CALL!
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Holiday
Mail
As you diligently prepare your
holiday cards and seasonal mailings, here are some important facts
to remember.
* Postage within Canada 0-30g = .51
cents, 30-50g = .89cents * Postage within USA
0-30g = .89 cents,
30-50g = $1.05
For all you mailing date cutoffs and
other questions, contact Canada post at 1-866-607-6301 or at
www.canadapost.ca |
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