Sunday, 3 October 2010
Newsletter October 2010
It seems that as we start the month of October, I am more inclined to rave about the gorgeous warm, sunny weather we have had over the last few days rather than the latest Real Estate Stats for the Central Okanagan!!
Sept 2010 Central Okanagan Real Estate Stats
Type Total S Fam Strata Lot Manuf
Sept 10 219 132 72 5 10
Aug 10 269 129 107 15 18
Jul 10 219 122 72 11 14
Jun 10 343 207 97 18 21
Sept 09 382 225 136 11 10
Sadly, as you can see from the latest figures, real estate sales have again taken a downturn.
The encouraging thing is that we have seen more single family home sales, and it has been condo sales that have taken the biggest hit.
Interestingly the average residential sale is currently $466,000 which is only 0.27% below the average last year. Whereas the average Condo price has fallen 9% to $235,000 and the average Town home price has fallen 4% to $341,000.
On the Inventory side there are currently 1666 Residential homes for sale -up 5%, Condos are down 12% to 988 and Town homes are down 0.4% to 493. I believe this reflects the number of condo owners who decided to rent their units this fall.
It remains a great time to Buy, particularly with interest rates remain lower.
Cell 250 864 1707
Web site http://www.mykelownarealestate.com