Wise on Real Estate (RE/MAX Kelowna) – Monthly Residential Market Watch(1)
December 2011 – Central Okanagan and Kelowna Real Estate Statistics
The Kelowna Residential real estate market fell this month from a price perspective. December 2011 average house price increased 1.2% from $456,910 to $462,527 throughout the month. Average house price is down 2.63% from the December 2010 average of $475,005. The median decreased slightly to $418,750 compared to last months $426,700.
The number of Kelowna/Central Okanagan sellers has decreased. The number of total residential listings by end of December was 1109 units over last month’s 1359 units. How many SOLDS did we see? December 2011 was a bit of an improvement over last year with 110 units. Average number of residential unit sales for the month of December is 120 units (average over the past 10 years) – so we are low compared to an average December. Days on market increased to 123 days. As a percentage 7.39% of all residential listings sold this past month.
For more information on Kelowna real estate go to www.trishwise.com.
(1) Source www.OMREB.com statistics – please verify if important
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