Monday, 17 September 2012

Kelowna Real Estate reports improved Sales for August 2012, not so for other parts of BC

Hi All,

Here is the latest Homes Sales report from BCREA today. Overall it doesn't make very good reading for BC, at the moment, which seems to go against our improving economic trends.

That been said, the figures for the Central Okanagan , show our Sales and Dollar volumes up, number of listings falling and average sale prices holding steady.

To see the full report, please read below.

Vancouver, BC – September 17, 2012.

The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through the Multiple Listing Service® (MLS®) in BC declined 25.4 per cent to $2.6 billion in August compared to the same month last year. A total of 5,337 MLS® residential unit sales were recorded over the same period, down 17.9 per cent from August 2011. The average MLS® residential price was $491,145, 9.0 per cent lower than a year ago.

"Consumer demand continued to trend lower in August," said Cameron Muir, BCREA Chief Economist. "Tighter mortgage credit conditions introduced in July appear to be taking a toll on an already tentative market. However, with home sales slower than improving economic conditions suggest, a rebound may be in store before year-end."

Year-to-date, BC residential sales dollar volume declined 17.5 per cent to $26.2 billion, compared to the same period last year. Residential unit sales dipped 9.1 per cent to 50,131 units, while the average MLS® residential price was 9.3 per cent lower at $521,599.

To read the full report, please click the attached link-: http://www.bcrea.bc.ca/docs/news-2012/2012-08.pdf

Kind Regards

Trish Cenci

Tel 250 864 1707

1 comment:

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