November 2013 Kelowna Real Estate Sales Stats

Central Okanagan Real Estate Stats - November 2013

 

Ratio of Sales vs. Total Listing Inventory = 10.61%

Condo -- Sales = 56

Condo -- New Listings  = 108

Condo -- Current Inventory = 666

Condo -- Sell/Inv. Ratio = 8.41%

Condo -- Days to Sell = 117

Average Price: $209,735

Average Median Price: $193,500

 

Townhouse -- Sales = 49

Townhouse -- New Listings = 68

Townhouse -- Current Inventory = 402

Townhouse -- Sell/Inv. Ratio = 12.19%

Townhouse -- Days to Sell = 128

Average Price: $344,212

Average Median Price: $317,500

 

Lots -- Sales = 7

Lots -- New Listings = 35

Lots -- Current Inventory = 540

Lots -- Sell/Inv. Ratio = 1.30%

Lots -- Days to Sell = 292

Average Price: $217,186

Average Median Price: $225,000

 

Residential -- Sales = 159

Residential -- New Listings = 232

Residential -- Current Inventory = 1,108

Residential -- Sell/Inv. Ratio = 14.35%

Residential -- Days to Sell = 98

Average House Price = $458,171

Median House Price = $410,000

 

Description                                      Total Listings Taken                                        Inventory

This Month                                                     566                                                        3,732

Last Month                                                     706                                                        3,973

This Month Last Year                                    581                                                        4,224

 

Description                                      Total Units Sold                                                Total Sales 

This Month                                                 324                                                          $124,288,800

Last Month                                                 383                                                          $151,987,662

This Month Last Year                                268                                                          $105,987,712

 

Board‐wide (Peachland to Revelstoke): Overall sales of all property types reported in OMREB’s Board area during November improved by 17.3% compared to 2012 ‐‐ to 509 units from 434. Total residential sales for the month rose 20.3% to 456 units compared to 379 in November 2012.

New listings taken boardwide for the month dropped 3.8% with 864 listings posted compared to 898 last November, while inventory (active listings) was down 9.8% over this time last year – to 7,131 from 7,904.

Central Zone (Peachland to Lake Country): During November, overall sales in the Central Zone were up 20.5% to 323 units from 268 in 2012. Total residential sales for the month improved 27.0 % to 306 units compared to 241 last year.

The 565 new listings taken in the Central Okanagan during the month saw a 2.8% decline compared to 581 in 2012, while total inventory was reduced by 11.7% to 3,729 units from 4,222 last November.

North Zone (Predator Ridge to Enderby): Overall sales for November in the North Zone remained the same as last year at this time (109 units). However, total residential sales for the month dipped 3.3% over last year to 89 from 92.

Inventory for November saw a 9.0% drop to 1,966 from 2,160 in 2012, and the 175 new listings taken for the month dipped 13.8% from the 2012 level of 203.

Shuswap Zone (Salmon Arm to Revelstoke): During November, overall unit sales in the ShuswapRevelstoke Zone rose 27.6% to 74 units compared to 58 in 2012. Total residential unit sales for the month improved by 32.6% to 61 units compared to 46 last year.

While new listings taken in the Zone were up 7.9% (123 units) compared to last November (114), overall inventory dropped 5.7% to 1,430 from 1,517 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

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Sincerely,

Jason Neumann