Kelowna Real Estate Stats – September 2014

The busy real estate market continues!

Total sales for September:  552 (405 last year – up 36%).  Year-to-date: 4,293 sales – up 23.6% over this time last year. 

Inventory continues to drop and is 16% lower than September of 2013. This is especially welcome in the strata property sector which was over-supplied, but creates pressure on single family residential homes under $450,000. There are 29% fewer strata apartments on the market and 18% fewer townhomes, while the overall supply of single family residential is down 16%.

Price matters! Homes under $450,000 sell quickly – over the $450,000 price they may take about 100 days to sell. The current median price for a single family home is $450,000 ($420,000 last year). This median price has stayed fairly level for the last few months, indicating the level of pricing that is most attractive to the market.

Positive results are expected in the last quarter of this year as the weather co-operates and Winefest gets larger every year, attracting new buyers to the Okanagan Valley.   NOW is a great time to sell – or buy – in this positive market!

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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