Market Report for February 2020

By
Real Estate Sales Representative with RE/MAX Kelowna

With highs of +9C and some sunshine to mark a welcoming start to the first week of March. It should be safe to say the cold winter is behind us and the weather we are all used to is right around the corner.

On another positive note, housing is doing remarkably well in our marketplace. Units sold up 8.9%, number of sales YTD up 16.4%, residential house prices average up 9.8% and median up 6.5%  and units listed were all up February this year compared to last February.

Sales of properties listed below $440,000 declined but all price ranges above this rose significantly. February's total active listings also reflected the increase in sales with less inventory than we saw February 2019. If this trend that seemed to start in November last year continues, it looks like we are heading into a much more positive Spring for 2020. 

AVERAGE PRICE FOR FEBRUARY 2020

RESIDENTIAL - $734,799

TOWNHOMES - $503,487  

CONDOS - $351,814 

LOTS - $262,767  

UNITS SOLD -

FEBRUARY  2020 -316

FEBRUARY 2019 - 290

FEBRUARY 2018 - 367

FEBRUARY 2017 - 399

Comments (10)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Steve it has been ages had to stop in, hope you are well and prospering, Endre

Mar 04, 2020 10:31 PM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Endre,

Thanks for stopping by and leaving a comment. Nice to hear from you all is well, just starting to wind down. We bought a second home in Palm Springs to spend the winters and guys golf get aways. I hope all is well with you and Real Estate is keeping you as busy as you want to be!

Mar 05, 2020 06:09 PM
The Woodland Team of Texas
The Woodland Companies - Austin, TX
Land Specialists

Thanks for sharing the information on this community, I hope you sell many of these homes. 

Sara 😊

 

Mar 05, 2020 11:31 PM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Sara Wagner 

Thank you for your comment. I hope I do too. Also thank you for the follow!

Mar 06, 2020 04:57 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Famiies on the move will certainly appreciate your local real estate reports.

Mar 12, 2020 06:21 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Steve, nice to hear your weather is warming, ours too!   You have a healthy price point in your area!

Mar 12, 2020 07:42 AM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Roy Kelley 

Thank you for stopping by and leaving a nice comment. I hope all is well with you and chef Dolores.

Mar 12, 2020 06:54 PM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Joan Cox 

Thank you for stopping by and leaving a comment. Yes, our prices are high here making it hard for young couples starting out. I'm glad to hear your weather is warming too. 

Mar 12, 2020 06:57 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Friday morning, Steve. Thank you very much for your recent comments on my posts. Have a lovely weekend at home.

Apr 03, 2020 09:06 AM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Roy Kelley ,

Thank you for stopping by and leaving a comment. You are welcome Roy, I enjoy your posts. I don't always get by to read them often. Thank you, you and Chef Dolores also have a fantastic weekend.

Apr 03, 2020 07:03 PM