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
Oct - 12
Sept - 12
Aug - 12
Jul - 12
Oct - 11
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,
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.
Tel 250 864 1707