April Real Estate News – March Statistics

Moving Towards a More Balanced and Stable Market
Happy Easter!

KELOWNA: There’s more confidence in the housing market today than we were seeing late last year. Sales activity is rising as spring arrives, we noticed a big difference in the second half of March. We are happy to report that we are working with investors, first time buyers and also with out of town clients ready to buy.

Prices remained very stable with a modest drop to $438,493 average for a single family home. The upper market is still very tight with only 20% of the sales over $500,000.  For properties listed over $1 Million, only 2 have sold so far this year, with 376 properties to choose from! Only 8 lots have sold so far this year with the average price of $255,462. Inventory is rising slightly which is normal for this time of the year and we are excited to see the sales to listing ratio improving as well! Single family homes sales to listing ratio are at 8%. Apartments are at 4% and Townhomes came in at 6%. All in all not a banner month, but we are seeing improvements!

Great deals are available!

Active Listings: Single Family, Apartments, Townhomes

Number of Sales: Single Family, Apartments, Townhomes

Average Price: Single Family, Apartments, Townhomes

Major Cities Report
Victoria: Real estate sales gain momentum in March. Total sales last month were higher than the March figures during each year from 1995 to 2001 – a market which we considered to be balanced. The average price for single family homes sold in Greater Victoria last month was $534,689.
Vancouver: Property sales strengthen in current market cycle. Sales of detached properties in March 2009 declined 19.6 % compared to the same period in 2008. The benchmark price, for detached properties declined 15.1% from March 2008 to $649,342. West Vancouver is at 1.1Mill.
Kelowna: Sales activity is rising as spring arrives. Prices remained very stable with a modest drop to $438,493.  Sales-to-Listing inventory is rising.
Calgary: Slowly shaking off its winter blues 32% more sales in March over February 2009 and a 23% decrease over March 2008.  Average price came in at $420,354.
Edmonton: First quarter housing prices hover around $350,000. Sales in March were up 28% from the previous month.
Toronto: March resale housing results bring positive news. The situation in the housing market has improved. The average price for March transactions was $384,000 .

Single Family Home Average Price 2000 – 2009
Single Family Home Average Price Graph 2000 - 2008
Number of Sold Single Family Dwellings 2005 – 2009
ber of Sold Single Family Dwellings Graph 2005 - 2008
Single Family Listing Inventory 2005 – 2009
Single Family Listing Inventory Graph 2005 - 2008

 

Single Family Active Listings vs Sales 2005 – 2009
Single Family Active Listings vs Sales Graph 2005 - 2008
Single Family Percentage of Sales to Listing Ratio 2002 – 2009
(Percentage of How Many Listings Sell in a Month)
Single Family Percentage of Sales to Listing Ratio
Feature Property
Updated, Private Yard, 2 Bed Suite!

 

0.26 Acres | Backs Onto Greenbelt | 5 Bedrooms | 2100 sq ft | Built 1991 | $449,900

West Kelowna Estates – 2329 Devon Ct

Your chance for an awesome investment with this tastefully decorated and upgraded home. It boasts new quality laminate floors, fresh paint, blinds, lighting plus newer kitchen and tiles. It offers a 2 BEDROOM SUITE, FLAT DRIVEWAY is located on a CUL-DE-SAC and on a super PRIVATE .26 Ac. lot backing onto GREEN SPACE. This property also includes 2 separate laundry rooms, 10 appliances, above ground pool, covered deck and patio, garden, assortment of fruit trees and oversized garage.
More pictures and information here.