OUR MARKET JANUARY 2019

By
Real Estate Agent with RE/MAX Kelowna

HERE ARE SOME OF THE JANUARY 2019 NUMBERS:

• The average single-family home price in January 2019 decreased to $688,886 from $699,352 compared to January 2018.

• Residential days on market has increased by 3% to 77 days in January 2019 compared to 75 days in January 2018. It’s taking longer to sell now! We now have 9 months of residential inventory.

• The number of total sales has decreased by 40% to 216 units for the month of January 2019 compared to 363 units in January 2018.

• Number of units listed has increased 24% to 787 units listed in January 2019 compared to 636 in January 2018.

Supply vs demand is changing, and it is affecting our market now. It continues to show signs of a stronger and growing buyer’s market.

 I was thinking about how I was going to boast about our mild winter compared to the rest of the country. Then that idea ended rather abruptly when we too ended up in the deep freeze. At least there is one positive note from this blast of cold weather. The ice wine harvest is on! A week ago, there was discussion of a major loss of ice wine grapes. I’m sure the wineries are happy with this cold snap! 

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Rainmaker
869,022
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good evening 

Thank you for sharing your information with us Steve Higgins 

Have a great evening 

February 11, 2019. 

Feb 11, 2019 07:30 PM #1
Rainer
262,147
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

Feb 11, 2019 08:25 PM #2
Rainmaker
3,038,926
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Hope this market report will generate good listings and motivated buyers in your market, Endre

Feb 11, 2019 11:44 PM #3
Rainmaker
518,009
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Anthony Acosta - ALLATLANTACONDOS.COM 

Thanks for stopping by and leaving a comment. 

Feb 12, 2019 05:01 PM #4
Rainmaker
518,009
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Sally Crane 

Thank you for reading my post and leaving your comment. We do have a lot of listings so hopefully I will some of them sold.

Feb 12, 2019 05:03 PM #5
Rainmaker
518,009
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Endre Barath, Jr. 

Thank you for your comment. The government has put in a speculation tax that is hurting our market hopefully we can get past it, as it really has slowed our market.

Feb 12, 2019 05:08 PM #6
Rainmaker
1,893,302
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Steve Higgins - I'm sorry to hear about what the government has done with that speculation tax and to learn it's hurting your market. I hope it's just an adjustment period and that the market will self-correct. 

Best wish for great sales. 

Feb 12, 2019 09:15 PM #7
Rainmaker
518,009
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Patricia Feager, MBA, CRS, GRI,MRP 

Thank you for your comment. That is the hope with all Realtors right now.

Feb 13, 2019 06:28 PM #8
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Steve Higgins

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