Monday, 1 October 2012

Kelowna Real Estate Sales Update October 2012

 Hi All,  

The highlight for Kelowna during the last month had to be the weather. We really did enjoy some beautiful sunny days, and although it is forecast to be cooler in the mornings now, it looks like the sunshine is set to continue.

Our latest real estate sales figures on the other hand, do not show such a happy picture, with total sales being down 20% on this time last year.

Central Okanagan Real Estate Sales September 2012

Date
Total
S/Fm
Strata
Lots
Manuf
Sep - 12
260
134
93
13
20
 Aug - 12
380
205
136
22
17
Jul  - 12
409
232
131
31
15
Jun - 12
410
235
142
19
14
    Aug - 11
313
167
115
11
20

So what happened? Should we be worried? The answer is that we usually see sales taper off as we enter the Fall months and I believe the figures look worse, as we have had such good sales numbers over the summer months.

Probably the biggest impact on the market, however, has been the new Mortgage Rules introduced by the Government in July. Whilst it was not clear from the August figures that this was the case, we have seen a more marked impact during September.

Whilst I do see this continuing to have an impact in the short term, long term the economic outlook for this area is looking relatively stable, and barring some major 'meltdown' in the World Economy, I see no reason why we should not continue to see the modest price increases, which have been forecast for this area.

Other news - Change to My Office Location

The other news I wanted to share with you is that my business partner, Tanis Read and myself will be moving from our Quail Ridge Location at the end of October.

As we have been growing our business, we have been spending less time in our Quail Office this year, and now feel that we need to have a full reception presence and the backup of our Reception Team at the main Coldwell Banker Office at Harvey Avenue, down town.

We will therefore be moving our ‘base’ to #14 – 1470 Harvey Avenue, Kelowna, V1Y 9K8  and I will have the same Cell and Fax Number.

I certainly intend to remain very active in the Quail Ridge area, as I live in the area, and our out of town  clients who like to keep in touch with what is happening in Quail can continue to do so on our web site  www.quailridgerealestate.com

If you have any questions or concerns, please do not hesitate to contact me.

Kind Regards

Trish Cenci

Tel 250 864 1707

Email trishcenci@shaw.ca

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