Wise on Real Estate (RE/MAX Kelowna) – Monthly Residential Market Watch(1)
November 2011 – Central Okanagan and Kelowna Real Estate Statistics
The Kelowna Residential real estate market fell this month from a price perspective. November 2011 average house price decreased 1.4% from $463,503 to $456,910 throughout the month. Average house price is up 4.77% from the November 2010 average of $436,103. The median increased slightly to $426,700 compared to last months $417,500.
The number of Kelowna/Central Okanagan sellers has decreased. The number of total residential listings by end of November was 1359 units over last month’s 1481 units. How many SOLDS did we see? November 2011 was a bit of an improvement over last year with 124 units. Average number of residential unit sales for the month of November is 168 units (average over the past 10 years) – so we are low compared to an average November. Days on market decreased slightly to 94 days. As a percentage 9.12% 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 please visit Trish at www.trishwise.com.
