Kelowna Market Watch October 2009

October 2009 – Central Okanagan and Kelowna Real Estate Statistics

The Kelowna real estate market increased slightly this month from a price perspective.  October 2009 average house price increased 2.5% from $464,131 to $475,910 throughout the month. Average house price is up 2.96% from the October 2008 average of $462,239.

The number of Kelowna/Central Okanagan sellers has decreased.  The number of total units listed in October is down 14.02% to 889 units over last year’s 1034 units.  How many SOLDS did we see?  A huge increase compared to last year when the market was on its way down – with 417 units sold vs. the 173 units sold in October 2008.   Days on market decreased to 95.   Residential Sell to Inventory Ratio increased to 15.60% .

 

(1)     Source www.OMREB.com statistics – please verify if important

For more information on Kelowna Real Estate visit Trish Wise & Teresa Smith at www.trishwise.com

 

4 Beds Up, Lake View – Great Family Home

Family Standards…Welcome to a home whose total design celebrates family. Everyone gets a room, with 4 bedrooms up, and guests are treated to their own space and privacy down.  Friends will gather in this very entertaining kitchen–a kitchen that works for YOU.  Slow down and catch up in a generous great room where you can lounge around and be together.  The feeling of space extends outdoors with over 1/3 acre, room for a pool and then some. Take in lake views and “the lay of the land” from your deck.  The kids will ride their bikes and play hockey out front, with this quiet cul-de-sac location.   Walking trails, recreation, beaches and wineries right outside your door.  Feel at home…5065 Treadgold.

 

For more information on Kelowna Real Estate visit Trish Wise & Teresa Smith at www.trishwise.com

3200 Sq.Ft., Walk to School and a Media Room…

Wow what great value.  3200 sq.ft., 5 bedroom, media room, rec.space, and all within walking distance to the new, high tech, “green” – Chute Lake Elementary!

Made to Order…You’ll be impressed from the moment you drive up to this family savvy home. Right from the easy flowing floor plan to the comfortable, relaxed feel where everyone has their own space.You’ll have the main floor master retreat, while upstairs, you’ll find dedicated space for the kids w/ 2 bedrooms, a bath & a place for homework or reading. The finished basement provides for 2 more bedrooms, a bath, ton-o-storage, a media area, wetbar & rec area. You will be entertained.The kitchen’s where all the best ingredients come together: food, fun, friends & family. An inviting, functional space for making everyday meals & a casual, comfortable spot for you, a cup of coffee & a good read. The kids will walk to school. Nice.

315 McCarren Ave. – in the Award winning community of Kettle Valley.

For more information on Kelowna Real Estate please visit Trish Wise & Teresa Smith at www.trishwise.com

Selling in the Fall? Here are some tips to get your home ready…

Often sellers are worried about putting their home on the market in the fall.   Gardens are done, colder weather is upon us and generally we don’t feel that our properties are at their best.  But there are a few thing you can do to make your home more presentable in the changing weather.

The most important thing to remember is your first impression!  Which means you’ve got to focus on the yard and curb appeal.  Rake leaves, keep lawn trim, prune your garden, & clear gutters.  Although things are no longer in bloom, the yard should look neat and trim.  Some planted mums by the front door and a new door mat always add a bit of colour and comfort as prospective buyers walk up to your home.

Next – get it clean!  Everything – especially windows.  Since we have less natural day light this time of year you want to let as much light in to your home as possible.  Make sure all your surfaces are q-tip clean – they will reflect light and make your home seem brighter.

Make the house smell nice  – bake some cookies, use cinnamon in your coffee or boil a pot of water with some cinnamon stick in it just before your showing.  These smells make buyers feel at home the moment they walk through the door.

If you are at home just before a showing, turn on all the lights, the gas fireplace ( if you have one) and turn some music on.  All of these things will help give a good impression and make the buyers feel at home.

Remember – you only have one chance to make a first impression!  Make Buyers feel welcome and show them how well you take care of your home.

For more information on Kelowna Real Estate visit Trish Wise & Teresa Smith at www.trishwise.com

When is the Best Time to Sell? Spring?

We wanted to be able to go to our clients and let them know when the best time of year is to have your home on the market.  We thought for sure the number of sales would be significantly higher during the spring months.  But when we took a look at the number of single family unit sales from 1996 – 2008, averaged them for each month and calculated the percentage of total unit sales – the division was  surprisingly even!

10% of single family homes are sold in March – July (10% each month).

9% of single family homes are sold in August.

8% of single family homes are sold  in February & Septebmer

7% of single family homes are sold  in October & November

6% of single family homes are sold  in January & 5% of single family homes are sold  in December

So do you stay on the market over the winter?  Well motivation is a big part of why we sell our homes – so that is definitely going to play in to your decision.  The market is definitely slower (not as many buyers) over the winter months but Inventory is also traditionally lower so the odds may be in your favour despite the reduced number of buyers.

For more information on Kelowna Real Estate visit Trish Wise & Teresa Smith at www.trishwise.com

September Sales Climb 68%???

Here is a link to an interesting article about how September 2009 sales climbed 68% in BC over September 2008 sales http://tinyurl.com/septup

All true – it is a definite improvement over September 2008.  But to put it in to perspective for Single Family Home sales in the Central Okanagan – in September 2008 the number of single family home sales was on a steady decline – down to 143 units from the peak of 269 units in April 2008.   October dropped further down to 97 units, November to 73 units, December to 71 units and finally to the low in January 2009 of 60 units.  2009 has  shown a steady climb back up, February 91 units, March 141, April 177, May 215, June 249 to the peak so far this year in July with 250 units.  All of these numbers are around average for the given months.

August was a bit below average with only 173 units but September bounced back with 228 units (28 units above the average for September).

How is October stacking up?  The average for October is 180 units and as of this moment there are 102 single family unit sales for the month (so it’s looking good!).

For more information on Kelowna Real Estate visit Trish Wise & Teresa Smith at www.trishwise.com

Opportunity to Move to the Upper Mission

A Welcome Change…style & function in total harmony. You’ll love the unique natural components of this home. The earthy palette, enhanced with sunlight, will SOOTHE you. Stir the senses with good food & wine in the thoughtfully designed kitchen. Step out onto the deck & take it all in. So close to walking trails, beaches & wineries. An urban feel, for who you are & how you live…4922 Haskins Court.

Ideal layout for an in-law suite!

For more information on Kelowna Real Estate visit Trish Wise & Teresa Smith at www.trishwise.com

Great New Listing in Upper Mission

Get comfortable…Get into this great family home with everyday style. Better than new since there’s nothing to do & no added costs. Just get living. Get those gatherings going in this kitchen with room for more than one cook. Get the space you crave & an open plan. Get movie night scheduled in the family room. Get outback with a good friend to just sit, relax & connect with nature. Get a fresh start @ 5236 Cobble Cres

For more information on Kelowna Real Estate please visit Trish Wise & Teresa Smith at www.trishwise.com.

Kelowna Market Watch September 2009

Wise on Real Estate – Monthly Residential Market Watch⁽¹⁾

September 2009 – Central Okanagan and Kelowna Real Estate Statistics

The Kelowna real estate market held steady this month from a price perspective.  September 2009 average house price decreased 1% from $468,727 to $464,131 throughout the month. Average house price is down 2.39% from the September 2008 average of $475,481.

The number of Kelowna/Central Okanagan sellers has decreased slightly.  The number of total units listed in September is down 7.89% to 1016 units over last year’s 1103 units.  How many SOLDS did we see?  An increase compared to last year when the market was on its way down – with 398 units sold vs. the 264 units sold in September 2008.   Days on market decreased a bit to 107.   Residential Sell to Inventory Ratio increased to 13.09% .

For more information on Kelowna Real Estate please visit Trish Wise & Teresa Smith at www.trishwise.com.

(1)     Source www.OMREB.com statistics – please verify if important

5498 Mountainside Drive

Truly Life Enhancing…Old world meets new world with this Kentland showhome, built with state of the art features & exceptional beauty & craftsmanship. You’ll have it all: relaxed & refined living space, compelling views & outdoor living worthy of the Okanagan! Dine alfresco on the deck or poolside, your guests will be impressed. As the sun sets, city lights sparkle to the west. Toast Life! This is your “forever” home, with a distinctive Kettle Valley address…5498 Mountainside Drive.

For more information on Kelowna Real Estate please come visit Trish Wise & Teresa Smith at our website www.trishwise.com.