Busy week of high end homes selling

Busy week of high end homes selling

The trend for the past few months is continuing with 40 Kelowna residential sales in  last week including 3 of them over $1 million. These high end homes are on Devonian and Uplands in Upper Mission and Bennett Rd. up in McKinley Landing. The same week in 2009 was 52 homes selling.

There are 115 homes for sale in the Lower Mission area of Kelowna and the 1 sale recorded last week on Turner was for $405,000. This is certainly a reasonable price for this neighborhood, being so close to such good elementary, middle, french immersion and high schools. This particular home though was originally listed at $495,000 and the price was reduced slowly until it finally sold. This is certainly an eye opening lesson for the 115 homeowners trying to sell right now in this sought after area.  

 

What is the correct price to list your home?  How long should you wait until you reduce your price? Many owners wait too long and by the time they reduce their price to where the market value is the buyers are no longer looking as the listing has become stale or they think that because it has been on the market for so long there is something wrong with it. Having a professional evaluation showing the true comparable s to your home can help you see the actual value of the home and what price that the market will bare. When you overprice your home, no matter what neighborhood you live in, you will get some showings in the beginning of the listing but the Realtors and their buyers are also looking at other homes in the same price range. If the other homes are in better condition or have more square footage in the home or in the lot they will receive an offer before you do.

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 residential sales

20 open houses in South Pandosy Today 12-4

If you are in the South Pandosy neighbourhood today, drop by 415 Wardlaw for a community open house featuring 20 open houses and 12 businesses. Take a walking tour of the area and visit Lakeview Market, Freshair Cycle, Kelowna Cycle, SOPA square, Marmalade Cat Cafe and others. See attachment for full map.

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

Affordable 4 bedroom home plus a suite

Affordable 4 bedroom home plus a suite

Price drastically reduced to $385,000 for a well kept home with a view on 3047 Parkhurst Road. Seller wants this sold quickly.

Suite is great for nanny or extended family. Back yard is fenced and private.

Living in Kelowna,
Andrew Smith
Smith McLellan Group
Royal LePage Kelowna
Info@OkanaganBC.com
To view homes go to www.Okanaganbc.com
250-979-8066
Follow me on Twitter @smithap01

Average Asking Price In Kelowna Is $868,772

Average Asking Price In Kelowna Is $868,772

You read that right. In fact, read it over and over again and try digesting it before moving on. This is basic grade 6 math where you add up the asking prices of all the single family residential homes for sale in Kelowna and divide it by the number of homes for sale (2,076) and voila, an average asking price of $868,772. Where else in Canada is the average asking price $350,000 higher than average selling price? In face, $350,000 itself is higher than the average Canadian selling price.

The third quarter of 2010 resulted in 400 Kelowna residential sales with an average sale price of $543,200. This is an improvement from the 2nd quarter 2010 when we had an average sale price of $538,600 (585 sales) and much better than the 1st quarter when the average sale price was $510,600 (432 sales) . This is clear evidence that our housing market is rebounding this year after the collective blow to the solar plexus we all took in 2009 (ok, and most of 2008).

September of this year was 139 sales with an average sale price of $510,000 which is up a lot from the $465,000 recorded 12 months ago and virtually even with the $512,000 recorded September 2008.

With over 2000 homes for sale right now pricing the home is even more critical than ever with all that competition but the good news is that prices are inching up again.

If you are considering a move to or in Kelowna choosing a neighborhood to live in can be a first priority. Decide how much driving you and your family are comfortable with . Do you need to be close to schools? fitness facilities? or close to work?  Call Andrew to discuss the advantages and disadvantages of each neighborhood and which ones would work best for you and your family.

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 residential sales