November 2015 Stats

Hello All,
 
Attached is our updated stats comentary for the 3 zones we track.These are based on single family residential homes and the reason we use these is that over the years, we have found it gives us the best picture of not only what is going on, but also what is to come. When we look back over the last 25 years of trends, we find that the 2 statistics within these stats which have shown to consistently predict what is going on; Absorption and Available Inventory. The reason for this is that these 2 statistics are both portraying that same 2  entities, "supply and demand". Supply and demand predict what is going to happen to sales and prices.  We have calculated the comparisons of the 12 month running averages for the 4 main statistics for each zone (Single Family Residential) What they indicate is that the Central and Shuswap zones are following a typical recovery leg of the cycle; rising absorption, falling inventory, rising sales activity and slowly rising prices. The North Zone is softening. Although sales in our Vernon office are up substantially over last year the board averages are at very best flat. It will be interesting to see if it turns into an actual correction or is simply a burp (highly technical term I know)  Have a great month.
 
Central Okanagan
  • Sales up 7.7%
  • Inventory down 10.7%
  • Absorption up 21.1%
  • Median Price up 6.3%
North Okanagan
  • Sales down 8.3%
  • Inventory down 3.0%
  • Absorption down 7.1%
  • Median Price up 2.6%
Shuswap
  • Sales up 14.6%
  • Inventory down 13.1%
  • Absorption up 3.1 %
  • Median Price up 7.4%

 

*contributed by Bill Hubbard

Dave Strle

Dave Strle

REALTOR®
CENTURY 21 Executives Realty Ltd.
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