September 2011 – Central Okanagan and Kelowna Real Estate Statistics
The Kelowna Residential real estate market increased this month from a price perspective. September 2011 average house price increased 10.2% from $470,138 to $517,864 throughout the month. Average house price is up 10.89% from the September 2010 average of $466,987. The median however, held steady at $427,000 compared to last months $431,935. The reason we are seeing such a large increase in the average this month is due to the luxury home market, that continues to due well.
The number of Kelowna/Central Okanagan sellers has decreased. The number of total residential listings by end of September was 1590 units over last month’s 1709 units. How many SOLDS did we see? September 2011 was a bit of an improvement over last year with 145 units. Average number of residential unit sales for the month of September is 210 units (average over the past 10 years) – so we are low compared to an average September. Days on market held steady with 88 days year to date. As a percentage 9.12% of all residential listings sold this past month.
For more information on Kelowna Real Estate and the Kelowna Area please visit Trish Wise at www.trishwise.com.
(1) Source www.OMREB.com statistics – please verify if important
Tags: central okanagan, kelowna area, luxury home market, real estate statistics, residential unit.
