May 2008 - Central
Okanagan and Kelowna Real Estate Statistics
The Kelowna real estate market dropped this month
from a price perspective. May 2008 average house prices
decreased 0.039% from $552,830 to $531,454 throughout
the month. There is a significant increase from the
May 2007 average of $472,555 which brings us up to
a 12.47% increase from May last year.
The number of Kelowna/Central Okanagan sellers has
also been on the rise. The number of units listed
in May is up 46.22% to 1452 units over last year’s
993 units. How many SOLDS did we see? A big decrease
compared to last year – with 428 units sold
vs. the 699 units sold in May 2007. Total Active Listings
as of the end of May 2008 – 4709 vs. May 2007
of 2914 – an increase in listings of 61.60%!
Days on market increased to 73.
June 2008 - Central Okanagan and Kelowna Real Estate
Statistics
The Kelowna real estate market continues to drop
this month. June 2008 average house prices decreased
3.5% from $531,454 to $512,867 throughout the month.
There is a slight increase from the June 2007 average
of $503,340 which brings us up to a 1.89% increase
from June of last year.
The number of Kelowna/Central Okanagan sellers has
also been on the rise. The number of units listed
in June is up 43.25% to 1421 units over last year’s
992 units. How many SOLDS did we see? A big decrease
compared to last year – with 355 units sold
vs. the 656 units sold in June 2007. Total Active
Listings as of the end of June 2008 – 5168 vs.
June 2007 of 2946 – an increase in active listings
of 75.42%! Days on market increased to 76 days.
July 2008 - Central Okanagan and Kelowna Real Estate Statistics
The Kelowna real estate market continues to drop this month. July 2008 average house prices held steady, decreasing slightly from $512,867 to $512,811 throughout the month. There is a slight increase from the July 2007 average of $479,714 which brings us up to a 6.9% increase from July of last year.
The number of Kelowna/Central Okanagan sellers has also been on the rise. The number of units listed in July is up 42.61% to 1419 units over last year’s 995 units. How many SOLDS did we see? A big decrease compared to last year – with 334 units sold vs. the 553 units sold in July 2007. Total Active Listings as of the end of July 2008 – 5489 vs. July 2007 of 2976 – an increase in active listings of 84.44%! Days on market increased to 77. Residential Sell to Inventory Ratio – 7.43%.
August 2008 - Central Okanagan and Kelowna Real Estate
Statistics
The Kelowna real estate market continues to drop
this month. August 2008 average house prices decreased
3.5% from $512,811 to $495,449 throughout the month.
There is a slight decrease from the August 2007 average
of $496,259 which brings us down to a 0.16% decrease
from August of last year.
The number of Kelowna/Central Okanagan sellers has
also been on the rise. The number of units listed
in August is up 14.55% to 1126 units over last year’s
983 units. How many SOLDS did we see? A big decrease
compared to last year – with 271 units sold
vs. the 600 units sold in August 2007. Total Active
Listings as of the end of August 2008 – 5588
vs. August 2007 of 2973 – an increase in active
listings of 87.96%! Days on market increased to 81.
Residential Sell to Inventory Ratio – 6.28%.
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