Feb. 11, 2020

Central Okanagan Real Estate Market Statistics: January 2020

Residential real estate sales in the Central Okanagan decreased 9% in January from December, with 250 sold in January compared to December's 271. While down from last month, January residential real estate sales were up by 26% from January of 2019's 192. 

The average price of a single-detached residential home in the Central Okanagan increased by 5% this January versus last January, coming in at $724,387 compared to January of 2019's $688,886. Conversely, the average price of townhomes experienced a decrease, coming in at $457,615, a 6% decrease from last year's $489,037. The average price of condos increased 14% in January to $382,445 from last January's $336,258. 

The number of new residential listings increased dramatically by 78% from December, with 549 new listings in January compared to December's 308. This dramatic jump from December to January is typical for the new year. New listings this January were 17% lower than last January's 665. 

The average days on market (DOM) decreased 5% in January to 80 DOM from December's 84 and on par with last January's 80 DOM. 

If you have any questions on the numbers above or would like to chat about next steps in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Receive weekly updates on the Central Okanagan real estate market and other useful real estate information and tips by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics: January 2020

Posted in Market Reports
Jan. 27, 2020

Central Okanagan Real Estate Weekly Market Snapshot: January 20-26, 2020

Here are the weekly market statistics for home sales, expired and new listings in Kelowna, West Kelowna and Peachland for January 20 to January 26, 2020.

Central Okanagan Real Estate Weekly Market Snapshot: January 20-26, 2020

View the latest MLS listings at the following links:

Kelowna

West Kelowna

Westbank

Peachland

Lake Country

Big White

If you have any questions or would like to discuss next steps in buying or selling a home, contact Jeff Creamer by filling out this form, calling 250-575-7112 or emailing jeff@shopkelownahomes.com. Happy house hunting!

Posted in Market Reports
Jan. 20, 2020

Central Okanagan Real Estate Weekly Market Snapshot: January 13-19, 2020

Here are the weekly market statistics for home sales, expired and new listings in Kelowna, West Kelowna and Peachland for January 13 to January 19, 2020.

Central Okanagan Real Estate Weekly Market Snapshot: January 20-26, 2020

View all the latest listings at the following links:

Kelowna

West Kelowna

Westbank

Peachland

Lake Country

Big White

If you have any questions or would like to discuss next steps in your search for a new home, contact Jeff Creamer by filling out this form, calling 250-575-7112 or emailing jeff@shopkelownahomes.com. Happy house hunting!

Posted in Market Reports
Jan. 13, 2020

Central Okanagan Real Estate Weekly Market Snapshot: January 6-12, 2020

Here are the weekly market statistics for home sales, expired and new listings in Kelowna, West Kelowna and Peachland for January 6 to January 12, 2020.

Central Okanagan Real Estate Market Snapshot: January 6-12, 2020

View all the latest listings at the links below:

Kelowna

West Kelowna

Westbank

Peachland

Lake Country

Big White

If you have any questions or would like to discuss next steps in your search for a new home, feel free to contact Jeff Creamer by filling out this form, calling 250-575-7112 or emailing jeff@shopkelownahomes.com. Happy house hunting!

Posted in Market Reports
Jan. 10, 2020

Central Okanagan Real Estate Market Statistics: December 2019

In December, residential real estate sales in the Central Okanagan decreased 31% from November 2019, with 271 sold in December versus November's 383. While down from last month, December residential real estate sales were up by 33% from December of 2018's 194. The strong increase in sales from last year over the last few months is a strong indicator of market recovery.

The average price of a single-detached residential home in the Central Okanagan slightly increased by 1.7% in December, coming in at $679,304 versus December of 2018's $668,199. The average price of townhomes also experienced a slight increase, coming in at $489,376, a 2.3% increase from last year's $478,500. The average price of condos increased 20% in December to $363,855 from last December's $297,189. 

The number of new residential listings decreased by 45% from November, with 308 new listings in December compared to November's 486. New listings were mostly on par with December of 2018's 312. The low number of new listings from last month is typical for December, the busiest holiday month of the year.

The average days on market (DOM) increased by 10% in December to 84 DOM from November's 76 and was 9% higher than last December's 77 DOM. 

If you have any questions on these statistics or would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Enjoy weekly updates on the Central Okanagan real estate market by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics: December 2019

Posted in Market Reports
Dec. 10, 2019

Central Okanagan Real Estate Market Statistics: November 2019

Residential real estate sales in the Central Okanagan real estate market experienced a 3% decrease from October to November 2019, with 371 sold in November versus October's 383. While sales are slightly down from last month, sales were up by 28% from last November's 279.

The average price of a single-detached residential home in the Central Okanagan increased 14% in November, coming in at $752,004 compared to last November's $650,763. The average price of townhomes also rose, coming in at $534,407, a 4% increase from last year's $513,223. The average price of condos increased 19% to $402,589 from November of 2018's $331,317. These significant price increases are due to an increase in sales of high-end properties within the region.

The number of new residential listings in the Central Okanagan real estate market decreased by 27% compared to last month, with 640 in October compared to November's 486, and were down by 12% from November of 2018's 547. This downswing in the number of new listings is typical for the months near the end of the year.

The average days on market (DOM) in the Central Okanagan real estate market decreased in November by 1% to 75 DOM from October's 76 and was 17% higher than last November's 63 DOM.

If you would like to discuss the numbers above or next steps in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Enjoy weekly updates on the Central Okanagan real estate market by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics: November 2019

Posted in Market Reports
Nov. 12, 2019

Central Okanagan Real Estate Market Statistics: October 2019

Central Okanagan residential real estate sales decreased by 6% from September to October 2019, with 383 sold in October versus September's 406. While less than last month, sales this month are up by 2% from last October's 376. As we head into the colder months and the holiday season, we typically see a decline in home sales due to people wanting to wait until better weather to move as well as making other things a financial priority until after the New Year.

The average price of single-detached residential increased in October by 2% to $681,861 compared to last October's $667,490. The average price of townhomes was $500,407, which remained mostly on par with last year's $502,549. The average price of condos decreased 9% to $318,155 from October of 2018's $347,837.

The number of new residential listings in the Central Okanagan real estate market decreased by 14% compared to last month, with 640 in October versus 733 in September, and were down by 11% from October of 2018's 716. 

The average days on market (DOM) increased in October by 4% to 76 DOM from September's 73 and was 22% higher than last October's 61 DOM. 

If you have any questions on the statistics or if you would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Enjoy weekly updates on the Central Okanagan real estate market by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics: October 2019

Posted in Market Reports
Oct. 10, 2019

Central Okanagan Real Estate Market Statistics: September 2019

Residential real estate sales in the Central Okanagan took a 10% dip in September 2019 compared to August, with 406 sold overall versus last month's 450. While less than last month, sales this month are up by 11%compared to September of 2018's 364. This is the third consecutive month that sales have shown an upswing compared to the same time period last year.

The average price of single-detached residential declined by 1% to $712,371 in September compared to last September's $720,769. The average price of townhomes experienced a 1% increase to $533,253 from last year's $510,426, while the average price of condos increased by 11% to $387,569 from September of 2018's $346,102.

The number of new residential listings in the Central Okanagan real estate market decreased by 14% compared to last month, with 733 in September versus 845 in August, and were down by 13% from September of 2018's 838. 

The average days on market (DOM) increased in September by 10% to 73 DOM from August's 66 and was 12% higher than last September's 65 DOM. 

If you have any questions on the information above or if you would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Enjoy weekly updates on the Central Okanagan real estate market by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Statistics September 2019

Posted in Market Reports
Sept. 10, 2019

Central Okanagan Real Estate Market Statistics: August 2019

Residential real estate sales showed promising signs in August 2019, with 450 sold overall. While 13% less than last month's 511, sales are up by 8% compared to August of 2018's 416. This is the second consecutive month that sales have shown an upswing compared to last year.

The average price of single-detached residential also improved, rising by 4.6% to $720,665 in August compared to last August's $688,101. The average price of townhomes showed a slight decrease of .5% to $502,228 from last year's $504,641, while the average price of condos also slightly decreased by 1% to $358,171 from August of 2018's $354,728.

The number of new residential listings in the Central Okanagan real estate market were on par with last month, with 845 in August versus 841 in July, and were only down 1.6% from August of 2018's 859. This slowdown in new listings is typical for this time of year and also results causing average prices to increase.

The average days on market (DOM) showed a promising decline in August by 20% to 66 DOM from July's 81 and was only slightly higher than last August's 62 DOM. 

If you have any questions on the information above or if you would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Enjoy weekly updates on the Central Okanagan real estate market by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics August 2019 Title Image

Posted in Market Reports
Aug. 2, 2019

Central Okanagan Real Estate Market Statistics: July 2019

Overall, residential sales in the Central Okanagan Real Estate Market increased by 13% to 511 from June's 451. Compared to this time last year, sales increased by 17% from July of 2018's 432.

The average price of single-detached residential declined 9.2% in July to $713,290 compared to July of 2018's $782,108. The average price of townhomes only decreased by .06% to $517,908 from last year's $518,211, while the average price of condos increased 5.5% to $362,685 from July of 2018's $343,315.

The number of new residential listings in the Central Okanagan real estate market decreased 13% to 841 from June's 961 and is down by 19% compared to July of 2018's 976. 

The average days on market (DOM) decreased 3.6% to 81 from June's 84 but was still 57% higher than July of last year's 45 DOM.

If these numbers bring any questions to mind or if you would like to discuss what's next in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Enjoy weekly updates on the Central Okanagan real estate market by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics July 2019 Title Image

Posted in Market Reports