Kelowna South Hospital Area
Okay, maybe that’s a little too much hyperbole for anyone’s taste but it’s my favorite part of Kelowna especially during the Summer.
Kelowna South is once again proving to be one of the hottest real estate areas in Kelowna. The fourth quarter in KS generated 29 residential sales with an average sale price of $422,000 (median sale price $375,000). This compares favorably to the same quarter in 2010 when this area generated 25 sales at a $426,000 average (405,000 median). Overall, there were 111 sales in Kelowna South.
There are currently 60 homes on the market including 2 price under $300,000 and 11 priced over $1 million. This is one of the few communities in Kelowna that is in a balanced market (not favouring buyer or seller). There are 80 strata/condominiums for sale with 25 of them priced under $200,000 and 5 over $1 million. There were 25 condo sales last quarter at an average of $279,000. This segment of the market is in much better shape considering there were only 18 recorded solids during Q4 2010. The average sale price was identical at $279,000. So much for “downward pressure on the condo market”. With 114 condo sales in 2011 in KS we are clearly in a buyers market meaning these stubbornly high prices should ease downward. Stay tuned.