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
http://www.gidden.ca

Professional Home Builder to Award-Winning Realtor®

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$409,900
Available

1180 K.L.O. Road

3 bed. 1 1/2 bath character home on large RU6 lot. Just 2 minute walk to Okanagan…
Macdonald Realty Kelowna
$779,900
Available

3987 Eastwood Drive

Amazing South East Kelowna home!5 Bedroom, 3 bath two-story family home - over 3,100 square feet of…
Macdonald Realty Kelowna

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