The Friday File: Okanagan Shuswap Real Estate Synopsis Sept. 24,2010

Good news for sellers this week as the number of firm sales was up slightly from last week's total of 91. In addition, fewer new listings were added to the existing inventory. This is most likely a seasonal adjustment, as the market here in the Okanagan Shuswap - and Canada in general wanes as we move into the winter season.

For Buyers- this too is an indication. By having your Realtor identify new to the market listings especially at this time of year in this market - you are more likely to locate a motivated seller. Fewer sellers are likely to "test the market" in the winter months. By looking at the Average Days on the Market - which again are looking like a listing period of 3 or more months - we can forecast that most homes that are likely to sell listed today will not sell till into December. Further to that - if we were to look back at the last few December Stats for sales - we would see that the volume of sales for that month is historically very light.

With a more sellers lowering their prices than adding to the market - this also shows motivation to buyers who are tuned in and watching. Do you have a personal search portal that helps you monitor changes in the market for the types of property that interest you? We offer this service to our clients and are happy to set you up. It is quick, painless and free!

Meanwhile - here is today's report:

From Market Watch

And in the last 24 hours:

From Market Watch

Numbers will vary depending on the time of day - please ask for clarification before relying on results. All data from the Okanagan Mainline Real Estate Board database. (MLS)

See you online,

 Brell ~ Brenda Ellis REALTOR ®

Your Okanagan Real Estate Umbrella

 with  Century 21 Executives Realty Ltd 

 (250)549-2103 Office Reception

1-877-227-4073 Toll Free

(250)308-4310 SMS

Century 21 Executives Realty Ltd.

2907 - 32nd St.

Vernon, BC  V1T 5M2