December 2012 Kelowna And Okanagan Real Estate Sales

Kelowna and West Kelowna -  Central Okanagan Real Estate Stats - December 2012

 

Ratio of Sales vs. Total Inventory = 6.04%

Condo -- Sales = 37

Condo -- New Listings  = 75

Condo -- Current Inventory = 646

Condo -- Sell/Inv. Ratio = 5.73%

Condo -- Days to Sell = 116

Average Price: $197,464

Average Median Price: $184,000

 

Townhouse -- Sales = 31

Townhouse -- New Listings = 42

Townhouse -- Current Inventory = 384

Townhouse -- Sell/Inv. Ratio = 8.07%

Townhouse -- Days to Sell = 127

Average Price: $326,723

Average Median Price: $293,000

 

Lots -- Sales = 12

Lots -- New Listings = 26

Lots -- Current Inventory = 566

Lots -- Sell/Inv. Ratio = 2.12%

Lots -- Days to Sell = 380

Average Price: $313,204

Average Median Price: $235,000

 

Residential -- Sales = 80

Residential -- New Listings = 149

Residential -- Current Inventory = 1,173

Residential -- Sell/Inv. Ratio = 6.82%

Residential -- Days to Sell = 123

Average House Price = $464,283

Median House Price = $425,150

 

Description                                      Total Listings Taken                                        Inventory

This Month                                                     384                                                        3,678

Last Month                                                     581                                                        4,224

This Month Last Year                                    461                                                        3,856

 

Description                                      Total Units Sold                                                Total Sales 

This Month                                                 190                                                           $ 72,317,410

Last Month                                                 269                                                          $106,667,712

This Month Last Year                                184                                                           $ 77,292,639

 

OMREB Board Wide - Peachland to Revelstoke: Overall sales in OMREB’s Board area slipped 5.7% during the month of December to 279 units compared to 296 in 2011.

Yeartodate (January through December), overall sales Boardwide improved 7.1% during 2012 compared to last year – rising to 6,095 units valued at $2.2 billion from 5,689 at $2.1 billion.

While inventory in December was the same as this time last year at 6,870 units, the 552 new listings taken for the month dropped 19.5% from 686 in 2011.


Central Zone - Peachland to Lake Country: During December, overall sales in the Central Zone rose 3.3% compared to the same month last year but sales volumes declined 6.4% ‐‐ to 190 units valued at $72.3 million from 184 at $77.3 million in 2011.

Total residential sales for the month were down 1.2% but sales volumes were down 10.5% compared to 2011 ‐‐ to 164 units at $64.2 million from 166 at $71.8 million last December. While single family home sales in December slipped 16.7% to 80 units from 96 in 2011, townhouse sales jumped 47.6% to 31 from 21 last year.

The 384 new listings taken in the Central Zone during December showed a 16.7% decline compared to 461 in 2011, and inventory for the month dipped 4.6% to 3,676 units from 3,853 last year.

Overall sales at yearend (January through December) improved by 7.4% in 2012 ‐‐ rising to 3,902 units valued at $1.5 billion from 3,633 at $1.4 billion in 2011. Total residential sales at yearend rose 5.6% over last year. Single family residential sales for the Zone were up 4.3% for the year compared to the number of units sold during 2011. Townhouse and apartment sales in this Zone showed the most improvement during 2012 ‐‐ up 8.0% and 10.9% over 2011.

North Zone - Predator Ridge to Enderby: Despite leading the Board in growth for most of the year, overall sales for December in the North Zone dropped 21.5% to 62 units valued at $21.2 million from 79 at $26.9 million in 2011. Total residential sales for the month were down 27.5% over last year – to 50 units valued at $16.3 million versus 69 at $22.4 million. Single family home sales slipped 20.0% to 28 units compared to 35 in 2011.

Inventory in the North Zone for December rose 2.1% to 1,889 from 1,850 in 2011, while the 92 new listings taken for the month showed a 28.7% decline over 129 at yearend last year.

Yeartodate (January through December), activity in this Zone remained strong with overall sales improving by 8.6% compared to the same period last year ‐‐ to 1,461 units valued at $484.9 million from 1,345 at $464.3 million. Total residential sales at yearend are up 10.2% over 2011. Compared to last year, single family residential sales showed the greatest improvement (up 18.7%), with townhouses close behind (14.6%).

Shuswap Zone - Salmon Arm to Revelstoke: During December, overall unit sales in the ShuswapRevelstoke Zone slipped 18.2% compared to 2011 with 27 units valued at $7.2 million from 33 at $10.4 million last year. Total residential sales were down 20.0% to 20 units valued at $6.1 million from 25 at $7.5 million in 2011. Single family unit sales for the month declined 14.3% and sales volumes were down 9.6% compared to last year ‐‐ to 12 units at $3.6 million from 14 at $4.0 million.

While new listings taken in the Zone during the month declined 20.0% over last December (to 76 from 95), inventory rose 11.9% to 1,300 from 1,161 in 2011.

Yeartodate figures for overall sales in the Shuswap during 2012 rose 3.4% while sales volumes dipped slightly (0.88%) compared to January through December last year ‐‐ to 730 units at $213.2 million from 706 at $215.1 million. Single family sales at yearend were up 4.9%.

Complete Okanagan and Shuswap December 2012 Real Estate Stats, please click here: OMREB Statistics and Statistical Graph.  For detailed information on recent housing starts in Kelowna,BC please visit CMHC

Disclaimer: Monthly sales statistics are based on the sales reported by real estate offices as of the last day of the month.  As a result, there may be some lag time in reporting sales and other minor adjustments in the total results are made accordingly.

If you would like more in depth statistics or have any general questions please contact me at (250) 808-7700 or at jason.neumann@century21.ca

Learn more about my Automatic Email Notification System and start your home search today!

Sincerely,

Jason Neumann

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Blog Archives

Tags