Topic 1. Jo and I are on Twitter. Follow us at www.twitter.com/smithap01 . We have been providing CMHC market updates, mortgage rate changes, our open house schedules and other interesting tidbits so be brave and follow us.

Topic 2. Is it just me or does it seem as though all of Kelowna’s roads are under construction just in time for back-to-school season? Getting two kids to school in the morning is either a 10 minute walk, 5 minute bike ride or 20 minute car ride assuming someone feels sorry enough and lets me merge onto Gordon. Older schools just weren’t designed for 500 cars doing touch-and-gos twice a day.

Topic 3. Real Estate News. Are Kelowna home owners allowed to breath a sigh of relief yet? Did we slay the recession monster or is it going crawl up off the ground and subject us to another long, cold, dark winter?

August 2009 saw 209 residential sales with anaverage sale price of $521,000. Those in the “the glass is half empty” crowd will look at August 2007where we recorded 311 sales while the “half full” crowd will look at the same data and compare it to August 2008 when we recorded 139 sales. I think
August 2007 and August2008 were both unusual months and this past August represents a normal month with few surprises. Mercifully, lakeshore homes are selling again as our market recorded 8 sales last monthover $1 million.

The average sale price last month was $521,000 up from$504,000 in July and $486,000 in August. The reason being the 8 lakeshore homes selling skews the averages higher. Everyone is certainly in “wait and see” mode as to weatheror not the high end purchaser has awoken after a long slumber or if last month was just an anomaly. Stay tuned.
Until next time,
Andrew Smith and Jo-Ann McLellan
Royal LePage Kelowna
tel 1-877-330-5884 or 250 979 8066

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