Rutland Homes With Suites

Rutland Homes With Suites

Rutland homes has to be the most undervalued and most under appreciated part of Kelowna and I’ve never understood why. It’s centrally located close to shopping, transportation, hockey rinks and a completely refurbished Kelowna Family YMCA. Crime is low (check for yourself…it really is) and people do as good or better job of taking care of their yards than anyone else in town. I don’t have employment statistics but driveways are empty during the day as everyone seems to have a job.

Parts of Rutland might be seem a little sketchy looking especially if the only part of it you see is Rutland Rd. south before heading to Big White Ski Resort. If you get off the beaten path, even just a little, there are plenty parks, golf courses and nice homes on safe streets.

There are 66 residential homes for sale right now in Rutland South and there have been 67 sales this year. The average sale price of a home in RS is 351,000 and it goes up to $367,000 with a suite. This begs the question….Is it worth installing a suite in your basement if it will add $16,000 to the value of your home? In other years, the average sale price of Rutland homes with suites are as follows… 2010 $387,000, 2009 $375,000, 2008 $432,000, 2007 $373,000. The trend here is similar to everywhere else in the city with 2008 being the height of the market. Rutland house values always seem to mirror Canadian house values for some reason.

Questions?? Andy and Jo-Ann are happy to answer any questions you may have about real estate in Kelowna. Please call us at 250-979-8066

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 properties

Kelowna Townhouses In The Spotlight

Kelowna Townhouses In The Spotlight

Buying a townhouse in Kelowna might be considered one of the safest real estate investments our city has to offer. So far this year there have been 209 townhouse sales with an average sale price of $349,000. Five years ago the average sale price was $280,000 and ten years ago they were selling for $140,000. In other years, the average sale prices were.. 2010 – $326,000, 2009 – $333,000, 2008 – $367,000, 2007 – $324,000, 2006 – 280,000……2001 – $140,000.

Everyone pretty much agrees that 2008 was the height of the market but other than that year prices have been increasing steadily. There was a 100% increase during the 5 year period from 2001-2006 and a less impressive but certainly reasonable increase of 37% in the past 5 years (2006-2011).

Demographically as our population ages and younger retirees move to Kelowna, especially those who aren’t quite ready for an apartment, are going to consider a townhouse as an alternative to a single family house for the obvious reasons which include minimal yard work and home maintenance. Townhouses seem to have escaped the evil wrath of the housing slowdown and are generally easier to sell if located in desirable parts of town.

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 new homes for sale

Price Reduced on 1317 Lombardy Square in Glenmore

SOLD  Glenmore, Kelowna – Announcing a price reduction on 1317 Lombardy Square, a 2,064 sq. ft., 2 bath, 4 bdrm single story “With Finished Basement”. Now MLS® $439,000 – 3 Bedroom Home plus Suite.

Living in Kelowna,

Andrew Smith and Jo Ann McLellan
Smith McLellan Group
Royal LePage Kelowna
Info@OkanaganBC.com

250-979-8066 or Toll Free 1-800-330-5883
Follow me on Twitter @smithap01

Feeling Sorry For The House of Rich Among Us

Feeling Sorry For The House of Rich Among Us

They’re everywhere it seems. If you’re trying to sell your home in Kelowna, and it’s priced over $700,000 you might have to get comfortable with that for sale sign out in your front yard for a while. There are 435 House of Rich for these homes on the market right now and there have been 109 sales in this price bracket so far this year. This translates into 33 months of inventory assuming a constant rate of sales and no new inventory on the market. Yikes!

The numbers are even more stark for the 218 homeowners with houses priced over $1 million since there have only been 37 of these homes that have sold this year. Keep reading though because the news does get a lot better for the rest of us who own homes in more popular price brackets.

There have been 800 sales so far this year in the $300,000-500,000 range (residential….not condos) and 643 residential single family detached currently for sale in the $300-500m range. This ALMOST makes it a balanced market for the first time in a while with 6 months’ of inventory on the market. In this range, a well priced home, in a decent area will always sell in a reasonable amount of time. Phew!

Overall, August 2011 was a pretty good month. 189 residential sales compared to 138 last August. The Aug ’11 average sale price was $547,000 compared to $553,000 last August. In summary, more sales and prices flat. I think we can all deal with this considering what’s happening in other North American markets. Treading water isn’t always a bad thing. Putting things into a historical perspective the average sale price for August 2006 was $480,000 and ten years ago it was $210,000.

Thanks for reading….next update will be on condominiums, I promise.

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 homes

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