September 2008 - Central Okanagan and Kelowna Real Estate Statistics

The Kelowna real estate market continues to drop this month.  September 2008 average house prices decreased 4.19% from $495,449 to $475,524 throughout the month. Average price is about the same as the September 2007 average of $475,000.

The number of Kelowna/Central Okanagan sellers has also been on the rise.  The number of units listed in September is up 17.48% to 1102 units over last year’s 938 units.  How many SOLDS did we see?  A big decrease compared to last year – with 265 units sold vs. the 463 units sold in September 2007.  Total Active Listings as of the end of September 2008 – 5590 vs. September 2007 of 3089 – an increase in active listings of 80.96%!  Days on market increased to 92.  Residential Sell to Inventory Ratio – 4.74%.

October 2008 - Central Okanagan and Kelowna Real Estate Statistics

The Kelowna real estate market continues to drop this month.  October 2008 average house prices decreased 2.79% from $475,524 to $462,239 throughout the month. Average price is down 7.7% from the October 2007 average of $500,943.

The number of Kelowna/Central Okanagan sellers has also been on the rise.  The number of units listed in October is up 13.03% to 1032 units over last year’s 913 units.  How many SOLDS did we see?  A big decrease compared to last year – with 168 units sold vs. the 480 units sold in October 2007.  Total Active Listings as of the end of October 2008 – 5466 vs. October 2007 of 3092 – an increase in active listings of 76.78%!  Days on market stayed at 92.  Residential Sell to Inventory Ratio – 4.89%.

November 2008 - Central Okanagan and Kelowna Real Estate Statistics

The Kelowna real estate market held steady this month from a price perspective. November 2008 average house prices decreased 0.3% from $462,239 to $460,992 throughout the month. Average price is down 0.35% from the November 2007 average of $462,609.

The number of Kelowna/Central Okanagan sellers has finally decreased a bit. The number of units listed in November is down 6.22% to 754 units over last year’s 804 units. How many SOLDS did we see? A big decrease compared to last year – with 149 units sold vs. the 364 units sold in November 2007. Total Active Listings as of the end of November 2008 – 5149 vs. November 2007 of 3147 – an increase in active listings of 63.62%! Days on market increased to 96. Residential Sell to Inventory Ratio – 4.09%.


December 2008 - Central Okanagan and Kelowna Real Estate Statistics

The Kelowna real estate market increased a bit this month from a price perspective. December 2008 average house prices increased 5.6% from $460,992 to $486,910 throughout the month. Average price is down 2.00% from the December 2007 average of $496,621. This month is following the trend over the past couple of years of an average price increase in the month of December.

The number of Kelowna/Central Okanagan sellers has increased quite a bit. The number of units listed in December is up 19.82% to 665 units over last year’s 555 units. How many SOLDS did we see? A big decrease compared to last year – with 120 units sold vs. the 281 units sold in December 2007. Total Active Listings as of the end of December 2008 – 4740 vs. December 2007 of 2948 – an increase in active listings of 60.79%! Days on market decreased to 89. Residential Sell to Inventory Ratio – 4.30%.