A Preliminary Glimpse of North Okanagan Real Estate Numbers for July 2009

I am sitting in at an open house for The Oaks Townhomes today on Okanagan Avenue - and thinking about the local real estate market - so I thought I would run a preliminary report on the Single Family Dwelling criteria that the Okanagan Mainline Real Estate Board used to generate its statistics from.

And - well- it only makes sense to share the data so that you have the information! So - here you go:

From July 1 - July 26 2009 in the North Okanagan 81 homes have sold.

The neighbourhoods with the most sales were Armstrong, Coldstream and East Hill. For those that follow the statistics there will be no suprise there as these are the trinity of Vernon BC real estate.

The Median list price of homes sold so far in the North Okanagan this July sits at $369,000 with the median sale price sitting at $350,000 and the average days to sell at 99.

Poperties sold have ranged from $184,250 for a mobile home on .23 of an acre to a 1.89 acre estate on Okanagan Lake selling at $3,200,000

Meanwhile 145 single family homes were listed during this time, and the current inventory level sits at 753. So it looks like another fairly consistent month in North Okanagan Real Estate market activity. Inventory has been hovering at this level for a while now - and the number of places selling is about double was just a few months ago.

In 2008 our market peaked in August - so if the current trend continues - we will start to see the gap between 2008 levels and 2009 levels shrink and prices slowly creep back upwards. The Bank of Canada says the recession is over - and that we are now in the rebuilding stage... but of course - no one is saying how long that stage will take!

With warmest regards.

See you online,

Brell ~ Brenda Ellis REALTORwith Okanagan Heat @ Century 21 Executives Realty Ltd