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Enjoy the blooming orchards! |
KELOWNA:
As you may notice further down the page, the major
cities in Canada all have improved markets which is good
news for Kelowna as we benefit from migration.
Undoubtedly, this market has been challenging for both
buyers and sellers. Nevertheless, the improvement in
recent months is an encouraging sign. This is evident
due to a stronger sales-to-active-listings ratio of over
9% in single family dwellings. There’s more confidence
in the housing market today than at the end of 2008 and
prices have remained stable with some modest
fluctuations up and down. While sales so far, in the
past 4 months combined, are still running 44% lower than
for the first four months of 2008, we have seen a
dramatic upswing in market activity this spring. Sales
have been particularly strong in the lower to mid-range
prices with 70% of all single family homes last month
selling for under $500,000. We feel this demonstrates
renewed confidence in the market and these are all signs
that a balanced market is on the horizon. However,
inventory is still relatively high and sellers should
price their properties aggressively to attract offers.
Great deals can still be
made!
Major
Cities Report
Victoria:
Spring real estate sales soar! A total
of 747 homes and other properties sold
in April through the Victoria Real
Estate Board’s Multiple Listing Service®
(MLS®), up 24% from the 602 sales in
March. There were 768 sales in April of
2008.
Vancouver:
Buyer activity brings greater stability
to the housing market! Residential
property sales in Greater Vancouver
totaled 2,963 in April 2009, a decline
of 8% from the 3,218 sales recorded in
April 2008, and an increase of 31%
compared to last month.
Kelowna:
There’s more confidence in the housing
market today than there was at the end
of 2008. A total of 157 Single Family
Homes sold in the month of April 09, up
from March 09 at 131. Sales are up and
prices remain stable, we are seeing a
balanced market on the horizon.
Calgary:
Spring is giving new life to the
residential real estate market showing
an increase of 19% from sales in March.
This was a decrease of 5% from April
2008. First time home buyers are taking
advantage of great inventory and very
low interest rates.
Edmonton:
Housing prices and sales increased in
April. Sales activity on the Edmonton
Multiple Listing Service® increased in
April as compared to last month and
April 2008. There were 3,019 residential
properties listed in April with sales of
1,843 (up 33.6% from last month and 1.1%
from April 2008).
Toronto:
In April 2009, Greater Toronto REALTORS®
reported 8,107 sales – down 7% from
April 2008. The average price for April
transactions was $385,641 – down 3% from
last year.
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