Real Estate In Kelowna -There’s No Such Thing as a Normal” Family Anymore

Real Estate In Kelowna -There’s No Such Thing as a Normal” Family Anymore

Quick two minute drill keeping you up to date on the  Real Estate in Kelowna  market

For the week of February 10 – 16 2014

These surveys are done by our real estate board and real estate agents are asked where buyers are coming from and details about their family dynamic.  Certainly not scientific by any means but it reinforces things we already know.  Out of town buyers from Alberta or Vancouver tend to make their presences known in the Summer as opposed to Winter,  There’s no such thing as a normal family anymore and Kelowna is an expensive place to buy a house.

  • New listings last week 178
  • Sales 54
  • Expired Listings 23
  • Lowest/highest Residential $140,000/$3,746,000

 

Survey results from January 2014.

  • 20.8% of buyers were first time buyers
  • 26.4% were move up buyers
  • 6.4% were buying revenue/investment property

Buyer Type (family dynamic)

  • 23.7% empty nester/retired
  • 20.7% Two parent family with children
  • 19.3% Couple without children
  • 17% Single female
  • 14.1% Single male
  • 6.7% Single parent with children

And no,  I’m not sure why numbers don’t add up to 100%.

Moving to Kelowna from

  • 60.3% from within our Okanagan board area (Peachland to Oyama to Big White)
  • 13.2% Alberta
  • 11% other areas in BC
  • 6.8% Vancouver / Vancouver island
  • 9.7% everywhere else

Realtor Andrew Smith
Living in Kelowna,
Andrew Smith
Royal LePage Kelowna
1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
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

Kelowna Real Estate and the Super Bowl Kick Off

Kelowna Real Estate and the Super Bowl Kick Off

Kelowna Real Estate and the Super Bowl Kickoff Welcome back.  With the first month safely behind us now are there any real estate industry prognosticators considering changing  their Kelowna housing predictions for the year?  Anyone?  Didn’t think some neither. January is one of those months that no one really takes seriously because 2 or 3 lakeshore home sales can skew the market upward and it’s one of the slowest months of the year for activity.  Here’s what happened though.  There were 121 residential single family sales compared to 116 recorded January 2013 so nothing to get excited about there.  Same goes for average sale price with a January 2014 average price of $473,000 compared to $474,000 last January. In sum it’s same old same old so far this year. Real estate markets in kelowna

 

It gets interesting though once you break down where the sales are coming from.  There are 1,300 active residential listings for sale right now (Saturday afternoon) with 500 of them priced under $500,000 and 800 priced above $500,000.  Last month saw 80 homes sell under $500,000 while 41 sold over $500,000.  This means that 66% of our sales come less than 40% of our housing inventory.  We still have way too many high priced homes sitting on the market not selling and at the same time not enough homes available to sell in the more affordable price ranges.

 

Glenmore was the most active community with 12 sales followed by Kelowna South with 11.  Only 1 lakeshore home sold last month with over 100 for sale but that’s a meaningless stat because we all know lakeshore numbers ramp up as the weather gets warmer.

 

The #SuperBowl is probably over by the time you read this but I’ll make the following predictions.  Broncos by 10, Seahawks win the coin toss, Bruno Mars opens with Locked Out of Heaven, National anthem will be over 1 minute 40 seconds, Peyton Manning for MVP and Richard Sherman will be on his best behavior.

Realtor Andrew Smith
Living in Kelowna,
Andrew Smith
Royal LePage Kelowna
1-1890 Cooper Rd, Kelowna, BC V1Y 8B7
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 lakefront homes for sale Kelowna

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