October 2013 Kelowna Real Estate and Okanagan Sales

Central Okanagan Real Estate Stats - October 2013

 

Ratio of Sales vs. Total Listing Inventory = 11.76%

Condo -- Sales = 73

Condo -- New Listings  = 128

Condo -- Current Inventory = 701

Condo -- Sell/Inv. Ratio = 10.41%

Condo -- Days to Sell = 96

Average Price: $208,912

Average Median Price: $190,000

 

Townhouse -- Sales = 62

Townhouse -- New Listings = 99

Townhouse -- Current Inventory = 420

Townhouse -- Sell/Inv. Ratio = 14.76%

Townhouse -- Days to Sell = 89

Average Price: $346,884

Average Median Price: $329,000

 

Lots -- Sales = 23

Lots -- New Listings = 52

Lots -- Current Inventory = 553

Lots -- Sell/Inv. Ratio = 4.16%

Lots -- Days to Sell = 148

Average Price: $195,763

Average Median Price: $190,000

 

Residential -- Sales = 166

Residential -- New Listings = 277

Residential -- Current Inventory = 1,238

Residential -- Sell/Inv. Ratio = 13.41%

Residential -- Days to Sell = 83

Average House Price = $481,993

Median House Price = $440,000

 

Description                                      Total Listings Taken                                        Inventory

This Month                                                     384                                                        3,973

Last Month                                                     581                                                        4,232

This Month Last Year                                    461                                                        4,557

 

Description                                      Total Units Sold                                                Total Sales 

This Month                                                 383                                                          $151,987,662

Last Month                                                 405                                                          $155,162,548

This Month Last Year                                302                                                          $114,231,289

 

Board‐wide (Peachland to Revelstoke): Overall sales of all property types reported in OMREB’s Board area during October improved by 19.7% compared to 2012 ‐‐ to 614 units from 513. Total residential sales for the month rose 21.5% to 553 units compared to 455 in October 2012.

New listings taken board‐wide for the month dropped 3.2% with 1,105 listings posted compared to 1,142 last October, while inventory was down 9.6% over this time last year – to 7,689 from 8,507.

 

Central Zone (Peachland to Lake Country): During October, overall sales in the Central Zone were up 26.8% to 383 units from 302 in 2012. Total residential sales for the month improved 34.6% to 354 units compared to 263 last year.

The 708 new listings taken in the Central Okanagan during the month saw a 3.8% decline compared to 736 in 2012, while total inventory was reduced by 12.8% to 3,970 units from 4,555 last October.

 

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North Zone (Predator Ridge to Enderby): Overall sales for October in the North Zone improved 9.6% over last year at this time – to 149 units from 136 in 2012. Of the total, residential property types for the month (134) were up 8.9% over last year (123).

Inventory for October saw a 7.2% drop to 2,140 from 2,306 in 2012, and the 248 new listings taken for the month dipped 2.8% from the 2012 level of 255.

 

Shuswap Zone (Salmon Arm to Revelstoke): During October, while overall unit sales in the Shuswap‐ Revelstoke Zone rose 9.3% to 82 units compared to 75 in 2012, the total residential unit sales for the month declined by 5.8% to 65 units compared to 69 last year.

New listings taken in the Zone remained the same as last October (149 units. However, overall inventory dropped 4.2% to 1,571 from 1,640 during the same month in 2012. 

 

Okanagan and Shuswap 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

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