Thursday, 1 November 2012

Kelowna Real Estate Sales Update for November 2012

Hi All,

After such beautiful weather in September, we have been brought down to earth  in October, with rain and snow on the hills.

This has meant that the 'Snowbirds' have gone South, Golf Courses are closing and life is settling down towards winter here in the Okanagan.

Central Okanagan Real Estate Sales Figures October 2012

Date
Total
S/Fm
Strata
Lots
Manuf
Oct - 12
290142 99 24 25
 Sept - 12
260
134
93
13
20
Aug - 12
380
205
136
22
17
Jul - 12
409
232
131
31
15
    Oct - 11
265
147
87
12
19

When I look at this months Real Estate sales,  I am pleased to see that they have 'rallied' after last months dip, which indicates that the change to the mortgage rules did have an effect on our First Time Buyers.

Points of note for September
- there were 15 Lake Shore Property sales.
- 10 sales over $1m.
- 91% of the sales were under $600,000.

Looking back to the detailed summary for September, inventory levels were still quite high. There were 15.66 months of Single Family Home inventory, 14.07 months for apartments and 15.28 months for Town Homes.

I do expect these numbers to fall during November as some Sellers take their homes off the market for the winter.

Just a reminder

I just want to remind everyone that Tanis and I have now closed our office in Quail Ridge and during the next week or so, once the major office renovations are  finished, we will be moving to our Main Office at -:

14, 1470 Harvey Avenue,
Kelowna, BC
V1Y 9K8
Office Telephone 250 860 7500
Toll Free 1 888 KELOWNA
Fax 250 868 2488

Don't worry though, I still plan to have a strong profile in the Quail Ridge area, as I continue to live in the Community.

Update on the Quail Ridge area 

I attended the Quail Ridge Residents Association (QRRA) AGM last week. It is always a great opportunity to catch up with my neighbours, and as usual there was a really good turnout.

Interesting things to note - Sheraton are hoping to have their new Four Points Hotels Opened at the entrance to Quail by July of next year, and the Airport announced plans to build a Gas Bar and Restaurant on the vacant land on the right as you enter the Kelowna International Airport Entrance, which they hope to start fairly soon.

That's all for this month.

Kind Regards
Trish Cenci
Tel 250 864 1707
Email trishcenci@shaw.ca

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