November Real Estate Sales Statistics

November was the first month we have seen a slight reduction in Residential sales since February with a reduction of -8% over least years sales. However we have consistently seen low inventory and a -14% reduction in new listings on the market. Prices also rose by $30,000 which is a positive sign that we are heading towards a sellers market. 

Apartment sales have seen consistent and healthy growth with an 18% increase over last year and inventory consistently down by -28% for November. Prices rose slight with a $11,000 increase.  

Townhomes saw a decrease for November with a -14% decrease and also a reduction in inventory of -15%. Prices are rising by $17,000.  

Lot sales went through the roof with an 186% increase in sales for November and a -20% decrease in listings. Lots of activity with new home construction to be seen in the coming year and spring market. Prices have risen a by $9,000.

Kind regards,

Tiffany Munsey 

A licensed REALTOR® with Coldwell Banker Horizon Realty

Cell: 778-214-4843

www.tiffanymunsey.com

tmunsey@coldwellbanker.ca

Coldwell Banker Horizon Realty

Office: 250-860-7500

Fax: 250-868-2488

14-1470 Harvey Ave.

Kelowna, BC V1Y 9K8

www.kelownarealestate.com

KELOWNA REAL ESTATE - FEBRUARY

FEBRUARY REAL ESTATE UPDATE

The weather and the real estate market were both warm for January 2014.

We saw an almost 6% rise in Single family home sales and a decrease of over 11% in new listings. This theme was consistent for 2013 and is expected to continue for 2014 and beyond. 

What does this mean for Kelowna Real Estate? It means we are now seeing a balanced market, and that buyer's confidence has returned. Sellers can now feel confident that their home will sell within their desired timeframe (when priced at the market).

Both Alberta and Vancouver are seeing healthy growth and sales, with many people looking to move to Kelowna and/or to purchase vacation homes.

Sellers:
The buyers who are in the market in February are serious buyers ready to make a quick purchase. Take advantage of these buyers before your yard maintenance starts.

Buyers:
Sellers may be willing to negotiate a better deal now if they have been sitting on the market over winter. Sellers are also looking to make a sale before the major spring yard maintenance jobs start.

If you are thinking of buying or selling in the Okanagan, I would love to work with you to make your move.

Tiffany Munsey
tmunsey@coldwellbanker.ca
www.tiffanymunsey.com
778-214-4843