Kelowna Real Estate Stats – April 2016
CENTRAL OKANAGAN APRIL 2016
Red-hot real estate market in Kelowna! Year to date there have been 2,139 sales (1,664 last year) +28.5%. Close to $1 Billion has traded hands in 2016 so far (+41% over last year). Single family detached homes showed a 19.5% increase in sales and strata apartment sales total 446 this year to date from 307 units last year (+45%). Townhouse sales are up 24.5% to 314 units (252 last year).
Inventory is still declining! Current units 2,911 (3,629 last year). This is expected to continue, causing a shortage of inventory in lower price ranges. The average house price is $560,000 ($492,700 last year). Median price is $520,000 ($470,000 last year).
63% of the buyers in this market are local, 12% from Vancouver, and 6% from other parts of BC. This means that 81% of our buyers are from BC with only 8% coming from Alberta. The other parts of Canada, US and the rest of the world only make up 10% of our market.
For more information please click here, and feel free to give me a call to discuss.
By Mark Gidden
“Proud to be the recipient of Macdonald Realty’s top award from 2008 to 2016”
Macdonald Realty Kelowna
Cell – 250 878 1113
Professional Home Builder to Award-Winning Realtor®