Ratio of Sales vs. Total Inventory = 5.43%
Condo -- Sales = 44
Condo -- New Listings = 166
Condo -- Current Inventory = 884
Condo -- Sell/Inv. Ratio = 4.98%
Condo -- Days to Sell = 119
Average Price: $237,066
Average Median Price: $217,450
Townhouse -- Sales = 21
Townhouse -- New Listings = 85
Townhouse -- Current Inventory = 440
Townhouse -- Sell/Inv. Ratio = 4.77%
Townhouse -- Days to Sell = 118
Average Price: $313,600
Average Median Price: $303,000
Lots -- Sales = 7
Lots -- New Listings = 47
Lots -- Current Inventory = 578
Lots -- Sell/Inv. Ratio = 1.21%
Lots -- Days to Sell = 126
Average Price: $296,071
Average Median Price: $215,000
Residential -- Sales = 104
Residential -- New Listings = 273
Residential -- Current Inventory = 1,340
Residential -- Sell/Inv. Ratio = 7.76%
Residential -- Days to Sell = 89
Average House Price = $440,123
Median House Price = $407,500
Description Total Listings Taken Inventory
This Month 709 4,413
Last Month 757 4,676
This Month Last Year 652 4,559
Description Total Units Sold Total Sales Volume
This Month 210 $130,028,594
Last Month 280 $93,584,049
This Month Last Year 326 $197,776,997
The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported December 2010 sales activity of all MLS® property types slowed from last month and are down from sales reported at this time last year. Despite a decline in new listings and overall inventory levels buyers are still enjoying a large selection of residential properties.
The listing inventory historically at this time of year sees a sharp decline as Sellers opt to wait for the following Spring to relist their properties. The prevailing mentatilty amongst these types of Sellers is that there are not many Buyers looking at homes during the Winter months. The truth is there are better quality showings in the late Fall and Winter months as Buyers looking at this time of year are quite serious and need to purchase. Those Sellers that choose to stay the course over the Winter are actually quite pleased they decided not to remove their homes from the marketplace!
Active year-to-date listings fell 4.64% compared to 2010 and new listings taken in December were down 14.42% from 2009 (445 compared to 520) - a 37% drop over last month (707). Overall sales declined 34.5% compared to December 2009 (to 169 from 258), and total residential units sold decreased 36.8% (to 146 from 231) - down 21.5% from last month (186).
Year-to-date total sales volume for all property types slightly dipped by only 7.36% at the end of 2010 compared to the same 12-month period in 2009 (to $1.493 billion from $1.562 billion).
Complete OMREB Statistics and Statistical Graph for December 2010
Disclaimer: Monthly sales statistics are based on the sales reported by real estate offices as of the last day of the month. As a result, there may be some lag time in reporting sales and other minor adjustments in the total results are made accordingly.
If you would like more in depth statistics or have any general questions please contact me at (250) 808-7700 or at jason.neumann@century21.ca
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Sincerely,
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