KELOWNA: The number of property sales in the Kelowna area slowed during August, but sales were again significantly higher than a year ago. The average price in the meantime, remained stable around the $450,000 mark. A total of 380 homes and all other properties sold in August. Most of the activity was in the lower price range meaning under half a million dollars. Lot activity is at only 1% of the inventory selling, apartments are at 6%, townhomes are at 14% and single family dwellings came in at 10.3%.

Sales are usually slow in August because that is when many people take their holidays, so it is not surprising to see the sales somewhat soften. We are very pleased, however, to note the significant increase in sales last month compared to August of 2008 which gives further evidence of the strengthening of the market.

 

Sunset over Kelowna

 

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Major Cities Report
Victoria: Property sales in August follow usual summer trend. The average price for single family homes sold in Greater Victoria last month was $596,498, up from $565,469 in July

Vancouver: Market momentum carries into August. The number of home sales in Greater Vancouver increased significantly last month compared to August 2008 and moved closer in line with the active summer months experienced between 2003 and 2007.

Kelowna: Housing market continues to show signs of stability. August 2009 sales activity of all MLS® property types has slowed since last month but has continued to improve over last year and the early part of 2009. “The year-over-year sales activity levels continue to improve significantly and stats steadily continue to strengthen”.

Calgary: Metro home prices edge upwards. Market rebounds on news that the worst of the recession is over. The last time prices showed a year-over-year increase was February 2008

Edmonton: Housing prices dip slightly in steady and stable market. Although sales numbers cooled a bit after record sales in June and July, we are still experiencing the strength of the market in Edmonton

Winnipeg: Another MLS® monthly dollar volume record set! 8 homes sold already over a Million Dollars this year. There are currently 18 million dollar plus MLS® listings – 16 homes and 2 condominiums. The highest list price is a Wellington Crescent home going for $2,800,000.

Toronto: Strong sales increases continue in August. The increase in demand for existing homes has been widespread across different housing types and price ranges. In August, the median price was $338,000, from the $318,000 recorded during August of 2008.