The condominium market in Kelowna is off life support and showing a strong pulse with the number of units selling in our marketplace increasing every month this year from a dreadful 41 sales in January to 165 in July. Here’s a monthly breakdown of condosales…

January 41

February 51

March 84

April 109

May 135

June 148

July 165

We must take caution because there are still 1,614condominiums for sale and that number doesn’t include new construction. The good news for sellers is that unitsales are gaining momentum and sharply priced units in popular areas likedowntown, Glenmore, hospital area, KLO are finally selling in a reasonable timeperiod instead of going weeks without showings.

The median sale price for the first 6 months of this yearwas $270,000 which is down from the $292,000 recorded for the same period in2008. In an effort to keep thingsin perspective, the median sale price for condos sold during the first half of2007 was $257,000 which means consumer confidence is returning to thissegment of the marketplace.

Living in Kelowna,
Andrew Smith and Jo Ann McLellan
Smith McLellan Group
Royal LePage Kelowna
Info@OkanaganBC.com
To view homes go to www.Okanaganbc.com
250-979-8066 or Toll Free 1-800-330-5883
Follow me on Twitter @smithap01

Andrew Smith 11:53 am