Monday, 2 January 2012

Kelowna Real Estate Update January 2012

Hi All,

First and foremost may I take this opportunity to wish everyone a Happy New Year!

If you were reading the news and following my blog throughout last year you will know that Kelowna Real Estate went through another tough year.

Sales numbers in 2011 were up on 2010, but it remained a Buyers Market, as can be seen in the chart below showing the Months of Inventory available.



The good news for Sellers is that these numbers are falling, and providing we doesn't see a big increase in new inventory during the spring, we should see things moving closer to a more balanced market.

Other points to note are that the number of days to sell a property in 2011 compared to 2010 did vary according to category -:
                                            2011          2010
Single Family                      90                80
Condos                                115              118
Townhomes                       108              100
Lots                                     189              236

There was a modest increase in the number of days to sell Single Family and Town Homes while the was a fall in time to sell Condos and a big improvement for Lots.

Central Okanagan Sales Numbers December 2011


Date

Total

S/Fm

Strata

Lots

Manuf

Dec-11*

171

110

52

6

3

Nov -11

255

145

89

9

12

Oct -11

265

147

87

12

19

Sep -11

289

158

105

11

15

Dec 10

157

93

46

10

8

*Figures are as at close of business 31st December 2011, and may be subject to slight change.

As you can see from the table above, sales were well down in December compared to November, but up on the previous year. This is quite normal for the Central Okanagan.

My Kelowna Real Estate Forecast for 2012

For those of you who may have missed my Real Estate Forecast for 2012, I have attached a link to my article  http://www.trishcenci.blogspot.com/2011/12/kelowna-real-estate-forecast-for-2012.html

Please Help me with you Feedback!

I know that everyone has busy schedules , but I do want to ensure that I keep my blog posts relevant and informative.

Please would you just take a couple of minutes to e.mail me with you comments on my blog, whether it is just to say that you find it helpful, or whether there is something else you would like to see included? My e.mail address is trishcenci@shaw.ca

Thank you in advance, as this will be really helpful!

Kind Regards

Trish Cenci

Tel 250 864 1707

4 comments:

  1. Trish, I think the blog and website are great. Very informative.
    Greg Maguire Keep in touch.

    ReplyDelete
  2. The document takes the country's overall actual estate market in terms of stability and home prices as well local economic conditions and actual estate owned saturation meaning foreclosure and forfeiture.

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  3. Thank you for sharing and providing this information. I hope to read more of your posts.

    ReplyDelete
  4. very nicely explained and informative article. thanks for sharing your post. hope to read more of your post.

    ReplyDelete