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KELOWNA:
Wondering if the winter will ever end
this year in Kelowna? We are sure it
also has an effect on the activity in
Real Estate. People are taking a ‘wait
and see’ approach with buyers and
sellers looking forward to the spring.
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Here
are 7 more reasons to call
The Krieg Family! |
Nothing sold over 1 Million last month
and still our average price came up from
$412,000 in Jan 09 to $448,000 in Feb
09. Only 5 lots sold last month and CMHC
is reporting only 11 housing starts in
February. Undoubtedly, the global
economic downturn has battered
everybody's confidence. Please be
careful in what you read in national and
US housing reports and articles that do
not reflect our local market conditions.
We have promising signs here in Kelowna;
It appears that we are moving towards a
more balanced and stable market.
Sales made some gains this month, prices
are stabilizing and the rate at which
our inventory is selling is increasing.
With low interest rates, broad selection
and improved affordability, buying
opportunities have not been this strong
in years. There are terrific
opportunities out there right now, but
with the inventory selling quicker,
those opportunities may not be available
for very long, and over quicker than you
may think. Whatever you buy today, I am
sure you will look like "a genius" in 10
years and you wish you would have bought
more.
Great deals are not found, they are made!
Major
Cities Report
Victoria:
Real estate sales rebounded in February
total of 403 homes and other properties
sold. The average price for single family
homes sold last month was $542,396, up
from $526,148 in January.
Vancouver:
Property listings decrease, as February
sales improve 1,480 sales registered in
February with a benchmark price of
$486,054.
Kelowna: A
rise in the average price plus improved
sales over January with similar
inventory point to a better market ahead.
Calgary:
825 sales in the month of February 2009
showing an increase of 50 per cent from
550 sales in January. The average price
of a single family home was $415,568 up
0.6%
Edmonton:
Local housing prices continue to slide
while sales rise. The average price of a
single family home in February was
$347,309 with 1,075 residential sales
and 21,440 homes in the inventory.
Winnipeg:
February MLS® sales down 14%. 660 units
sold, dollar volume remained strong as
the level resulted in the third highest
on record.
Toronto:
Sales and average price were above
January levels. The average home price
was $361,305 in February with 4,120
residential sales and 7,097 homes in the
inventory. |
