Kelowna Real Estate Market Update February 2010

Kelowna Real Estate Market Update February 2010

There were 189 Kelowna Home sales in the Okanagan Mainland Real Estate Board Kelowna area with an avg sale price of $451,000.00.

In 2012 at this time 207 sales at an average sales price of $439,400.00 . I predict the average sale price will jump as the year progresses and out of town buyers (possibly Alberta) come to Kelowna. Right now there are direct flights from Fort McMurray which has made our market very interesting. With more buyers from outside of Kelowna coming into town to purchase homes that will force our home prices to rise. Great time to buy??? Yes I believe it is!

As of Feb 19,2012 1,598 residential units are now listed including 491 listings over $700,000 and over 400 homes priced under $400,000. So far in 2013 there has been 101 sales in the under $400,000  range  and  only 16 sales over $701,000.  If you are on the market and listed for over $700,000 this will explain why you have not had very many showings.

Our Valentines Contest “Pin It To Win It” was alot of fun and thank you to all our “Pinners”. The winner was Robyn Hoffman who received a stunning bouquet of Roses

Floral Designs By Lee in Kelowna

 

Real estate in Kelowna is a poplar and if you have been waiting for the perfect time to buy, this could be the time. Maybe surprise your Valentine with a new home for next year!

If you are thinking of buying before June call ANDREW
1-877-330-5884 for the TOP 5 PICKS in your price range

we can get it to you within 24 hours

“I help people find the right home, at the right price, in the desirable Kelowna Area.”

Realtor Andrew Smith
Living in Kelowna,
Andrew Smith
Royal LePage Kelowna
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

Cal for more information https://www.okanaganbc.com/ or view here kelowna houses for sale

Quick Market Update…

Quick Market Update…

Taken out of context, it would appear that the Kelowna real estate market is on fire and the smartest thing in the world would have been to buy a home last January.

There were 148 residential single family home sale in Kelowna last month (January 2010) compared to 51 sales January 2009. The average sale price increased from $412,800 in January ’09 to $519,900 this January. On its own this is sensational jaw dropping news however long time observers of the Kelowna housing market will know that January 2009 was the worst month as far as anyone can remember in terms of unit sales. Thank goodness prices stopped falling that month because it would have psychologically disheartening to have had the average sale price drop into the $300’s. It is encouraging to see prices increase by over $100,000 in a year though but we have to be level headed about this.

This trend of month-to-month increases will likely continue all year (certainly for the first 6 months) even with new mortgage rules and the Harmonized Sales Tax staring us down.

Thinking of buying a home or condo in the near future? Try to get ahead of the rising market and get a pre qualification from your mortgage broker so that when you do see the home of your dreams you can make an offer.  As the market heats up, so will multiple offers and it is important to be prepared.  Work with an experienced Realtor to find the best opportunity for you and your family

Contact Jo-Ann or I if you want to receive info on current foreclosures, Canada Mortgage and Housing forecasts or HST. Thanks for reading.

Realtor Andrew Smith
Living in Kelowna,
Andrew Smith
Royal LePage Kelowna
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01

Cal for more information https://www.okanaganbc.com/ or view here Kelowna British Columbia real estate