Kelowna Real Estate Stats – October 2014

CENTRAL OKANAGAN OCTOBER 2014

Another busy month in the world of real estate!  Total sales for the month were 437 units (382 last year or +14%).  To date this year sales were 4,730 – an increase of 22.7% over last year.

Inventory continues to drop and is 16% lower than October of 2013.   Price still matters!  Homes under $450,000 move quickly, while higher-priced homes take about 100 days to sell.  The median price for a single family home is $452,000 compared to $424,000 last year. This median price has stayed fairly level for the last few months, but has started to increase slightly partly because interest rates have stayed level.

The remainder of the year looks very good.   All in all the last ten months have been very positive, and confidence has returned to the market.  2015 is looking even better!

For more information please click here, and feel free to give me a call to discuss.

By Mark Gidden
Top Producer 2013
Macdonald Realty Kelowna

Cell – 250 878 1113
Toll Free – 1 888 289 7096
Fax – 250 860 1600
http://www.gidden.ca

Professional Home Builder to Award-Winning Realtor®

 

 

 

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