The 15th week of the year saw Kelowna realtors sell 32 residential homes at an average sale price of $486,000 and an average market time of 86 days. The high end of the market was quiet with only two homes selling above $650,000 while the other end of the market was active with 12 homes selling under $400,000. It’s fantastic to see so many first time buyers getting back into the market. The same week in 2010 there were 53 sales with a $476,000 average sale price. If you’re a lakeshore home owner here in the Okanagan it was probably a quiet week in terms of showings.
Looking at the housing market for the year so far, we’re 75 sales behind last year’s pace, 537 this year/612 last year (meh….we’ll catch up for sure) but prices are close to 2010 levels. This time last year the average price was $495,000 and we’re at $486,000. I’m not sure what sort of impact the election/playoffs/weather is having on our market (probably none) but it’s encouraging to see so many people out to our open houses.
Looking for a home in Kelowna? It is a good idea to drive around the many different neighborhoods in Kelowna and get a feeling of what Â area you find are the most attractive and would feel like home to you. With Lake Okanagan changing direction when it hits Kelowna we find the light and soil conditions change with the different neighborhoods and with that the vegetation and types of trees change also. In some areas the trees are mostly Ponderosa Pine and the Â yards are very dry with little grass and in the next neighborhood it can change to Evergreen trees and lush Â lawns. The beauty of each area is in the eyes of the beholder.
Heading home early to watch game 3 habs/bruins. I wonder if Boston will roll over and die or come out spitting nails. I predict the latter.
Living in Kelowna,
Andrew Smith and Jo Ann McLellan
Smith McLellan Group
Royal LePage Kelowna
To view homes go to www.Okanaganbc.com
250-979-8066 or Toll Free 1-800-330-5883
Follow me on Twitter @smithap01