Kelowna, BC

Current listing inventory as of September 23,2009:

Single Family Dwellings - 2015 properties including 9 pending offers

Strata - Condos - 1159 properties including 8 pending offers

Strata - Townhomes - 480 properties including 7 pending offers

Manufactured Home - 228 including 3 pending offers

Lots/Acreages - 883 properties including 3 pending offers

Total properties for sale - 4,765 (total inventory increase of 1.47% from last month)

The hottest segment of the real estate market in the Central Okanagan are townhomes. There were 32 sales in August of 2008 compared to 70 sales in August of 2009. That accounts for a 94% increase in sales year over year and an absorption rate of nearly 14% of the overall townhome inventory! Essentially, at that rate of sales there is enough supply for 6 months. If you are considering selling your townhome, now would be a good time indeed!

There are a total of 56 foreclosures amongst the entire listing inventory. That is an overall change of 11 listings to the total number of foreclosures from August,2009 to September,2009.

Current foreclosures in the Central Okanagan listings represents 1.175% of the total listing inventory!

The breakdown is as follows:

2 Lots and Acreages ($399,000 and $590,000)

32 Single Family Residential ($250,000 to $2.295 Million)

22 Strata Properties ($189,900 to $999,000).

The biggest change to the foreclosure inventory was in strata properties. There were 10 listings last month and now there are 22 listed. That is a significant jump of 120% in a single month! There are currently no pending foreclosure properties being reported.

Total Year To Date Foreclosure Sales are:

1 Lots and Acreages for $264,500

If you would like a detailed list of current foreclosures in Kelowna and its surrounding areas please contact me at (250) 808-7700 or jason.neumann@century21.ca

Sincerely,

Jason Neumann

Current listing inventory as of August 28,2009:

Single Family Dwellings - 2091 properties including 12 pending offers

Strata - Condos - 1073 properties including 3 pending offers

Strata - Townhomes - 505 properties including 8 pending offers

Manufactured Home - 229 including 1 pending offers

Lots/Acreages - 937 properties including 4 pending offers

Total properties for sale - 4,835 (total inventory increase of 0.62% from last month)

There are a total of 45 foreclosures amongst the entire listing inventory. That is an overall change of one listing to the total number of foreclosures from July/09 to August/09.

Current foreclosures in the Central Okanagan listings represents 0.9% of the total listing inventory!

The breakdown is as follows:

2 Lots and Acreages ($445,000 and $590,000)

32 Single Family Residential ($250,000 to $2.295 Million)

10 Strata Properties ($189,900 to $999,000).

There is currently one pending sale on a foreclosure property in the Joe Rich area.

If you would like a detailed list of current foreclosures in Kelowna and its surrounding areas please contact me at (250) 808-7700 or jason.neumann@century21.ca

Sincerely,

Jason Neumann

Current listing inventory as of July 27,2009:

Single Family Dwellings - 2113 properties including 8 pending offers

Strata - Condos - 1035 properties including 3 pending offers

Strata - Townhomes - 533 properties including 6 pending offers

Manufactured Home - 236 including 0 pending offers

Lots/Acreages - 915 properties including 5 pending offers

Total properties for sale - 4,832 (total inventory down 1.45% from last month)

There are a total of 46 foreclosures amongst the entire listing inventory. There was no change to the total number of foreclosures from June/09 to July/09. However, there was a 40% increase in Single Family foreclosures (up from 23 in June to 32 in July) and approximately a 30% drop in Strata Properties (down from 16 in June to 11 in July)

Current foreclosures in the Central Okanagan listings represent of the total listing inventory!

The breakdown is as follows:

2 Lots and Acreages ($445,000 and $590,000)

32 Single Family Residential ($225,000 to $1.874 Million)

11 Strata Properties ($179,900 to $990,000).

There is currently one pending sale on a foreclosure property at this time.

If you would like a detailed list of current foreclosures in Kelowna and its surrounding areas please contact me at (250) 808-7700 or jason.neumann@century21.ca

Sincerely,

Jason Neumann

This year's 50th anniversary of Rutland May Days will run from May 15 to May 18 in Centennial Park. 

Event's include: All-Star Wrestling, Bull Riding Championships, Karaoke, Youth Dances and an Amusement Park.

Daily admission to various events is $2.  Breakfast will be served every morning from 8am. 

Parade will begin Saturday, May 16 at 10:00am. 

Sincerely,

Jason Neumann

Current listing inventory as of May 2009:

Single Family Dwellings - 2076 properties including 15 pending offers

Strata - Condos - 1028 properties including 5 pending offers

Strata - Townhomes - 557 properties including 6 pending offers

Manufactured Home - 208 including 0 pending offers

Lots/Acreages - 740 properties including 5 pending offers

Total properties for sale - 4,640

And amongst the entire listing inventory...only 27 Foreclosures!!! 

This means that only .0058% of all Central Okanagan listings are currently in foreclosure!  The breakdown is as follows: 2 Lots and Acreages, 19 Single Family Residential ($226,800 to $2.49 Million) and 6 Strata Properties ($134,900 to $329,000).

Bottom line is the pricing and selection of properties in the Okanagan is the best it has been in years.  Taking advantage of this balanced market is what investors are doing, shouldn't you? 

Sincerely,

Jason Neumann