Thursday, 13 September 2018

August Market Report

Its hard to believe that the kids have been back to school for a week already! I’m not sure who has had the biggest smiles this week on Facebook, the kids or the parents. I believe it’s the parents. As a reminder, please make sure you pay attention to those school zone speed limits, you don't want a ticket.
At RE/MAX Kelowna we had a great summer. Along with all the summer activities, we had the pleasure of being the Title Sponsors of the Parks Alive in Kelowna and Music in the Park in West Kelowna. We got to help these two great organizations put on over 50 free concerts throughout Kelowna and West Kelowna this summer. We look forward to many more summers enjoying these great concerts. If you didn’t have a chance to see them or didn’t know about these free concerts, “like” our RE/MAX Facebook page so you don’t miss out next year.
One of the amazing things about the agents that work in our office is their generosity. I have mentioned in the past about the RE/MAX Realtors Legacy Foundation of the Central Okanagan. This foundation was started by the agents of RE/MAX Kelowna and West Kelowna. This year we were able to provide a $5,000 donation to the YMCA kids programs and a $20,000 donation to JoeAnna’s House. It was such an honour for RE/MAX to be part of helping build JoeAnna’s House.
As the Real Estate market changes, we are starting to see interesting swings in the stats, published by the Okanagan Mainline Real Estate Board. As the number of home sales continue to decrease and a more normal and stable market begins to emerge it becomes more and more important to deal with a full time professional agent who have the experience to truly understand these changing market conditions. Call me if you would like to talk about the market.

Stat Comparison      AUGUST 2017 vs. AUGUST 2018
Number of Sales by Month;       2017                        2018 
                                                    591                          449
Number of Sales Year to Date;  
                                                  2017                         2018   
                                                  4,673                        3,699                                            
Residential House Prices by Month;
                                                 2017                          2018                                                
Average                               $682,814                    $687,413
Median                                $648,000                    $640,500
Residential House Prices Year to Date; 
                                                 2017                           2018
Average                             $676,879                      $721,326
Median                               $624,950                      $668,950

Number of Units Listed;           
                                                 2017                            2018  
                                                   955                               993                                                                     
Days to Sell by Month - Residential ;
                                                 2017                         2018
                                                     46                             60
Days to Sell Year to Date - Residential; 
                                                 2017                          2018
                                                     47                              52
Single Family Sales by PriceYear to Date AUG 2018
Price Range                  2017                   2018
$0 - $239,999                     7                         7
$240,000 - $319,999         28                      22
$320,000 - $399,999         95                      71
$400,000 - $479,999        252                    168
$480,000 - $559,999        494                    374
$560,000 - $999,999      1,975                 2,275
$1,000,000 and Over        451                     638

Active Inventory Central Okanagan - AUG 2018
Residential       1,265
Condo                 554
Mobiles                 39
Lots                     416
Townhomes         359

Follow by Email