October 2011 – Central Okanagan and Kelowna Real Estate Statistics
The Kelowna Residential real estate market fell this month from a price perspective. October 2011 average house price decreased 10.5% from $517,864 to $463,503 throughout the month. Average house price is down 9.11% from the October 2010 average of $509,933. The median decreased slightly to $417,500 compared to last months $427,000.
The number of Kelowna/Central Okanagan sellers has decreased. The number of total residential listings by end of October was 1481 units over last month’s 1590 units. How many SOLDS did we see? October 2011 was a bit of an improvement over last year with 148 units. Average number of residential unit sales for the month of October is 192 units (average over the past 10 years) – so we are low compared to an average October. Days on market increased to 97 days. As a percentage 8.44% 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 go to www.trishwise.com.
