Topic 1. Jo and I are on Twitter. Follow us at www.twitter.com/smithap01 . We have been providing CMHC market updates, mortgage rate changes, our open house schedules and other interesting tidbits so be brave and follow us.
Topic 2. Is it just me or does it seem as though all of Kelowna’s roads are under construction just in time for back-to-school season? Getting two kids to school in the morning is either a 10 minute walk, 5 minute bike ride or 20 minute car ride assuming someone feels sorry enough and lets me merge onto Gordon. Older schools just weren’t designed for 500 cars doing touch-and-gos twice a day.
Topic 3. Real Estate News. Are Kelowna home owners allowed to breath a sigh of relief yet? Did we slay the recession monster or is it going crawl up off the ground and subject us to another long, cold, dark winter?
August 2009 saw 209 residential sales with an average sale price of $521,000. Those in the “the glass is half empty” crowd will look at August 2007where we recorded 311 sales while the “half full” crowd will look at the same data and compare it to August 2008 when we recorded 139 sales. I think
August 2007 and August2008 were both unusual months and this past August represents a normal month with few surprises. Mercifully, lake shore homes are selling again as our market recorded 8 sales last month over $1 million.
The average sale price last month was $521,000 up from$504,000 in July and $486,000 in August. The reason being the 8 lake shore homes selling skews the averages higher. Everyone is certainly in “wait and see” mode as to weather or not the high end purchaser has awoken after a long slumber or if last month was just an anomaly. Stay tuned.
Until next time,
Living in Kelowna,
Royal LePage Kelowna
250-979-8066 or Toll Free 1-877-330-5884
Follow me on Twitter @smithap01