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
Coldwell Banker Horizon Realty
Office: 250-860-7500
Fax: 250-868-2488
14-1470 Harvey Ave.
Kelowna, BC V1Y 9K8
