Wise on Real Estate (RE/MAX Kelowna) – Monthly Residential Market Watch(1)
August 2011 – Central Okanagan and Kelowna Real Estate Statistics
The Kelowna Residential real estate market decreased this month from a price perspective. August 2011 average house price decreased 4.1% from $490,364 to $470,138 throughout the month. Average house price is down 4.77% from the August 2010 average of $493,705.
The number of Kelowna/Central Okanagan sellers has decreased slightly. The number of total residential listings by end of August was 1709 units over last month’s 1742 units. How many SOLDS did we see? August 2011 was a bit of an improvement over last year with 154 units. Average number of residential unit sales for the month of August is 209 units (average over the past 10 years) – so we are low compared to an average August. Days on market held steady with 86 days year to date. As a percentage 7.72% of all residential listings sold this past month.
(1) Source www.OMREB.com statistics – please verify if important
For more information on Kelowna Real Estate and the Kelowna Area visit Trish Wise at www.trishwise.com.
