By Jaime Briggs, Kelowna Real Estate
MEDIA RELEASE
For Immediate Release:
May 3, 2012
Okanagan‐Shuswap Housing Market Remains Steady with Modest Gains
Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported April 2012 sales activity of all MLS® property types were up compared to the same month last year and have improved over the first four months of 2011, as the housing market remains steady and continues to see modest gains.
“Okanagan‐Shuswap home sales saw gradual improvement during April,” says Rob Shaw, an active REALTOR® in the North Zone and OMREB President. “We continue to see up and down fluctuations in each Zone as there are a lot of dynamics in our area – depending on the community, housing type and price point. Now more than ever, it is important for anyone thinking of buying or selling to ask their REALTOR® how their property type is currently faring in the overall market and, more significantly, in their particular neighbourhood.“
Shaw notes, “In April, sales were the strongest in the North Okanagan with a 30% improvement over 2011 and single family homes saw the most significant gain with a 48% increase in units sold. Overall sales for the month also picked up 18% in the Shuswap, and lot sales jumped significantly over April 2011 – from 2 to 8. In the Central Okanagan, it is encouraging to see a 26% rise in the number of lots sold year‐to‐date compared to the first four months in 2011. The bump‐up indicates that builders and developers are purchasing land in our Board area, and more lots are being listed and added to the inventory.”
BOARD WIDE (Peachland to Revelstoke): Overall sales in OMREB’s Board area improved by 11.7% during the month of April compared to this time last year (to 537 from 481), and sales volumes were up 18.0% to $202.7 million from $171.8 million. Sales year‐to‐date (January through April) improved 5.0% over the same period in 2011 (to 1,810 from 1,724) with sales volumes 4.0% higher at $653.1 million compared to $628.0 million. While units sold in April improved marginally (0.8%) over March (to 537 from 533), sales volumes jumped 34.8% ($202.7 million compared to $193.0 million). Inventory for April 2012 was up 0.9% to 8,926 units compared to 8,851 last year, while 1,852 new listings for the month rose 2.2% over 1,813 in April 2011.
CENTRAL ZONE (Peachland to Lake Country): Overall sales in the Central Zone for the month rose 5.3% to 341units compared to 324 in April 2011, while sales volumes improved 17.0% at $140.9 million compared to $120.6 million. Total residential sales for April were up 8.1% to 321 units compared to 297 sold last year, and improved 1.9% over 315 in March. Single family home sales (179 units) jumped 11.9% compared to last April (160) – a 7.2% improvement over last month (167 in March). Apartment sales for the month showed a 23.5% gain over last year (to 63 from 51 units). While the number of townhouses sold in April were similar to 2011 (49), this segment improved 28.9% compared to March (38). Lot sales year‐to‐date were up by 26.3% to 48 ($10.4 million) compared to 38 in 2011 ($7.7 million). Inventory for the month rose 2.3% over 2011 (to 4,943 units from 4,834), and the 1,044 new listings added were up 1.4% from the 1,030 last year at this time.
NORTH ZONE (Predator Ridge to Enderby): Overall sales in the North Zone for April jumped 29.5% to 136 units compared to 105 in 2011, and sales volumes were up 26.1% to $45.9 million from $36.4 million. Sales for the month also improved 8.8% over March to 136 from 125. Total residential sales for April (123 units) showed a 26.8% improvement over last year (97) – a 7.9% increase over the 114 last month. Single family home sales (83) for the month were up 48.2% compared to the units sold in April 2011 (56), and improved by 25.8% compared to sales this March (66). Inventory during April dropped 4.7% to 2,366 compared to 2,483 this time last year, and the 466 new listings taken for the month dipped 3.1% from 481 in 2011.
SHUSWAP ZONE (Salmon Arm to Revelstoke): During April, overall unit sales in the Shuswap Zone improved 17.7% to 60 units ($15.9 million) compared to 51 ($14.5 million) in 2011 – up 5.2% over the 57 sold in March. Total residential sales rose 4.2% to 50 units compared to April 2011 (48), and saw an 11.1% jump over last month (45). While single family unit sales were up marginally (3.7%) from last year (28 versus 27), sales improved by 47.4% over last month (19 in March). Lot sales jumped to 8 in April compared to 2 last year, and leapt 125% year‐to‐date to 18 from 8 in 2011. Inventory was up 5.9% compared to last April (1,612 from 1,522), while new listings rose 12.9% over the same month in 2011 (to 340 from 301).
“The market is definitely up over last year,” says Shaw. “We are seeing modest improvements in sales and small gains in overall demand, and are confident the outlook for the rest of spring and early summer is good – especially with interest rates expected to remain low and keep affordability at an even keel for at least the next quarter or so. The Alberta economy is looking better so we could see some spill‐over into BC with perhaps more activity in the new home and recreation markets sparked by recently introduced government incentives.”
With significant active inventory plus the expected seasonal increases in listings, and the demand for housing growing at a slow but steady rate reflective of the economy and employment, Shaw notes that prices are holding steady in most segments in the Board area.
“Working with a real estate professional to understand current local market conditions and to provide comparisons specific to your neighbourhood is essential as home values vary based on property type and location. Pricing continues to be of utmost importance when selling a home. Consult with your REALTOR® to make sure your pricing is strategic and reflective of the current values in your area. Remember that serious buyers are motivated by well‐priced properties with great curb appeal and room to negotiate.
"It is important to have realistic expectations when buying or selling a house, Shaw adds. “Buyers and sellers must agree to come together if they are serious about closing the deal.”
The Okanagan Mainline Real Estate Board is comprised of 1,075 member REALTORS® and 91 real estate offices in the Southern Interior of BC. The Board area covers the Central Okanagan, North Okanagan and Shuswap – from Peachland to Revelstoke.
For the most comprehensive source of all real estate listings, home buying and selling information, visit our national websites at www.realtor.ca and www.icx.ca. To find out about the advantages of using a REALTOR ®, check out www.howrealtorshelp.ca.
All OMREB listings are published in the MLS® Real Estate Review and MLS® Commercial Review magazines available at all real estate offices and various locations in the Central Okanagan, North Okanagan, the Shuswap and Revelstoke areas. For comprehensive Board‐wide statistical information, please visit our local public site: www.omreb.com
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By Jaime Briggs, Kelowna Real Estate
May 21, 2012
Everyone is always asking "Who's Buying Homes in the Okanagan" and "Where are they coming from?"
Well, the results of OMREB's
APRIL 2012 Buyers Survey are in!
APRIL SURVEY SUMMARY
Property Type:
31.0% of purchases were by
Move-Up Buyers
17.6% by First Time Buyers
16.6% moving from Single
Family Home to Strata Unit
10.7% buying
Revenue/Investment Property
4.8% purchasing Recreation
Property
4.3% moving into Retirement
Home/Seniors Community
3.2% moving from Strata
property to Single Family Home
Buyer Type (Family
Dynamic):
30.4% Two parent
family/children
27.7% Couple without children
16.8% Empty Nesters/Retired
11.5% Single Female
9.4% Single Male
3.7%
Single Parent with children
Moving From:
58.6% from Within OMREB Board
Area
19.4% from Alberta
7.9% from Lower
Mainland/Vancouver Island
6.8% from Other Areas in BC
4.2% from Eastern
Canada/Maritimes
2.1% from Outside Canada
1.0% from
Saskatchewan/Manitoba
0% from NWT/Yukon (8th
month reported)
APRIL 2012 RESULTS &
HIGHLIGHTS: Full summary
of survey with pie charts and highlights are attached to this (PDF).
Sun Village Adult Resort Community
• 1,490 sq. ft., 2 bath, 2 bdrm single story "Rancher w/ 4ft. Crawl Space" - MLS® $354,000 - Backing onto Waterscape!
Westbank Centre, West Kelowna
-
We invite everyone to visit our open house at #19 - 2330 Butt Road on
May 19
from 1:00 PM to 3:00 PM.
Property information
For
immediate release
Home Sales Surge in Interior/North
Vancouver,
BC – May 15, 2012. The
British Columbia Real Estate Association (BCREA) reports that
the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC
declined 12.5 per cent to $3.8 billion in April compared to the same month last
year. A total of 7,058 MLS® residential unit sales were recorded over the same
period, down 1.8 per cent from April 2011. The average MLS® residential price
was $532,855, 10.9 per cent lower than a year ago.
"A
ten per cent dip in Lower Mainland home sales offset a 14 per cent increase
across the rest of the province,” said Cameron Muir, BCREA Chief Economist.
“Kamloops, the Okanagan and the North all posted double-digit increases in home
sales in April compared to levels one year ago."
"The share of provincial sales garnered by Vancouver and
the Fraser Valley declined from 65 per cent in April 2011 to 60 per cent last
month,” added Muir. “A larger proportion of homes sold in less expensive
regions contributed to the average BC sales price dipping nearly 11 per
cent."
Year-to-date, BC residential sales dollar volume declined 15.8
per cent to $15 billion, compared to the same period last year. Residential
unit sales dipped 9.7 per cent to 23,782 units, while the average MLS®
residential price was 6.8 per cent lower at $546,870.
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For more
information, please contact:
|
Cameron Muir
|
Damian Stathonikos
|
|
Chief Economist
|
Director of Communications and
Public Affairs
|
|
Direct: 604.742.2780
|
Direct: 604.742.2793
|
|
Mobile: 778.229.1884
|
Mobile: 778.990.1320
|
|
Email: cmuir@bcrea.bc.ca
|
Email: dstathonikos@bcrea.bc.ca
|
Shannon Lake/Smith Creek, West Kelowna
-
Announcing a HUGE price reduction
on 2500 Shannon View Drive, a 1,856 sq. ft., 3 bath, 4 bdrm 2 story "Grade Level Entry". Now
MLS®
$399,999
- Hot New Price!.
Property information
Sun Village Adult Resort Community
• 1,490 sq. ft., 2 bath, 2 bdrm single story "Rancher w/ 4ft. Crawl Space"
-
MLS®
$354,000
- Backing onto Waterscape! #19-2330 Butt Road
Westbank Centre, West Kelowna
-
- Sun Village Adult Resort Community -
This home is located in one of the best, quiet inside locations backing directly onto the Waterscape!
Brazilian hardwood floors, 2 Bedrooms, 2 Baths, formal living/dining, plus great room with gas Heatilater fireplace. 4 ft. crawl space, double car garage with storage.
Back patio faces East and is a beautiful spot on the waterscape to enjoy the morning sun, flowers and wild birds.
Strata $186/month, plus $108.30/month land lease.
Ideally situated in West Kelowna close to all the major shops and facilities.
Sun Village is a 45+ private Adult Resort Community with gated entry and clubhouse with heated indoor saltwater swimming pool and hot tub. Perfect for active Retirees!
For more information on Kelowna Real Estate, please call Jaime Briggs, Coldwell Banker Horizon Realty at 250-860-7500 or go to www.BriggsOnHomes.com
Property information
• 2,885 sq. ft., 4 bath, 4 bdrm 2 story "with basement"
-
MLS®
$695,900
- $36K below assessed value
Lakeview Heights, West Kelowna
-
$36K Below Assessed Value!
Lake & vineyard views from this deluxe custom built Craftsman style 4-Bdrm home in desirable Thacker Ridge Estates.
9 ft ceilings, dark maple plank hardwood floors, spacious formal living room with veranda and large windows to enjoy your views.
Formal dining room wired for optional gas fireplace. Stylish white linen kitchen, granite counters, eating bar, separate nook, ample cupboard space.
Cozy family room off the kitchen fully wired for surround sound.
Upstairs Master Bdrm w/private balcony, plus 2 large bedrooms, full bath and computer niche.
Partially finished basement w/separate entrance, 4th bedroom, full bathroom, plus ample extra unfinished space.
Even an oversized Triple Tandem Garage - Perfect for all your toys, plus poolsized backyard.
Seller may consider trades to newer single family home<$425k.
For more on Kelowna Real Estate call Jaime Briggs, Coldwell Banker Horizon Realty at 250-860-7500 or go to www.BriggsOnHomes.com
Property information
4983 Windsong Crescent, Upper Mission, $549,000 - Just Listed & First Time on Open House!
We invite everyone to visit our open house today, Sunday May 6
from 1:00 - 3:00 PM.
Property information
Great Family Friendly Street !
• 2,365 sq. ft., 3 bath, 4 bdrm 2 story "Grade Level Entry"
-
MLS®
$549,000
- Dazzling 180 Degree Views
Upper Mission, Kelowna
-
Enjoy Okanagan living with 180 degree lake & sparkling city lights from your two balconies and master bedroom of this beautiful home!
Featuring 4 bedrooms (3 up, 1 down), 3 baths, a workable kitchen with large island & stainless steel appliances, plus easy walkout access to your back patio with fenced backyard.
The living room has high vaulted ceilings, hardwood floors, and cozy corner gas fireplace. The fully finished basement is roughed in for a wet bar.
All this located on a family friendly street close to playgrounds, parks and walking trails. A great place to raise your family!
For more information on Kelowna Real Estate call Jaime Briggs, Coldwell Banker Horizon Realty at 250-860-7500 or go to www.BriggsOnHomes.com
Property information
Shannon Lake/Smith Creek, West Kelowna
-
We invite everyone to visit our 6 Open Houses this weekend!
2500 Shannon View Road, Shannon Lake - $414,000
Saturday April 28 & Sunday April 29 ~ 11:30am - 1:30pm
3103 Sageview Road, Smith Creek - $579,000+HST
Saturday April 28 & Sunday April 29 ~ 2pm-4pm
3107 Sageview Road, Smith Creek - $599,000+HST
Saturday April 28 & Sunday April 29 ~ 2pm-4pm
For more details go to www.BriggsOnHomes.com or call Jaime Briggs, Coldwell Banker Horizon Realty at 250-860-7500.
Property information
Property information
Property information
Triple Car Garage
• 2,015 sq. ft., 3 bath, 4 bdrm 2 story "Plus large walkout basement"
-
MLS®
$579,000
- Stunning Brand New Home!
Shannon Lake/Smith Creek, West Kelowna
-
This home has Pizazz! Another stunning home in beautiful West Kelowna by quality builder H&H Homes.
4 Bedrooms (3+1), 3 Baths, 2,015 sq.ft. finished, plus 1,015 sq.ft. unfinished in large walkout basement.
5-S/S appliances, soaring 20ft. vaulted ceilings in living room, large covered deck with lakeviews, oversized Triple Car Garage and loaded with extras such as heated ensuite floors, granite in kitchen, walkthrough pantry & hardiplank exterior.
All located on a quiet no-through road just minutes to town.
PRICED at $622,230 Including NET HST
Includes: central air, fully landscaped with u/g irrigation, 5-S/S appliances including; side by side fridge/freezer, microwave, stove & dishwasher.
For more details on Kelowna Real Estate call Jaime Briggs, Coldwell Banker Horizon Realty at 250-860-7500 or go to www.BriggsOnHomes.com
Property information
Shannon Lake/Smith Creek, West Kelowna
-
Announcing a price reduction
on #306 - 2770 Auburn Road, a 1,222 sq. ft., 2 bath, 2 bdrm single story. Now
MLS®
Price Reduced Now Only $319,000 for Top Floor immaculate condo at Terravita by Shannon Lake Golf Course.
Property information
• 1,856 sq. ft., 3 bath, 4 bdrm 2 story "Grade Level Entry"
-
MLS®
$414,000
- Great Home at WOW Price!
Shannon Lake/Smith Creek, West Kelowna
-
Don't miss this great family home at a WOW price!
Featuring 4 Bedrooms (3 up, 1 down), 2 1/2 Bathrooms and over 1,800 sq.ft. of space on two floors.
Front living room (with stone accent gas fireplace), partially vaulted ceilings and front deck for scenic golf course and mountain views.
Inside you'll love the 'pet friendly' laminate floors, updated paint/carpets and a bonus family room downstairs.
A private backyard features hot tub, terraced rock gardens, accent lighting and covered deck perfect for enjoying Okanagan summer 'al fresco dining' or entertaining!
All located on a quiet no-through road near Shannon Lake Golf Course and Shannon Lake Elementary School.
For more details on Kelowna Real Estate, call Jaime Briggs, Coldwell Banker Horizon Realty at 250-860-7500, or go to www.BriggsOnHomes.com
Property information
By Jaime Briggs, Kelowna Real Estate
April 20, 2012
The Buyers Survey of "Who Bought Homes in the Okanagan and Where did they come from?" is now available:
MARCH SURVEY SUMMARY
Property Type:
28.7% of purchases were by Move-Up Buyers
21.3% by First Time Buyers
12.4% buying Revenue/Investment Property
9.6% moving from Single Family Home to Strata Unit
5.6% Recreation Property Buyers
3.9% moving into Retirement Home/Seniors Community
3.4% moving from Strata property to Single Family Home
Buyer Type (Family Dynamic):
30.9% Couple without children
18.2% Two parent family/children
17.1% Empty Nesters/Retired
14.9% Single Male
13.8% Single Female
6.1% Single Parent with children
Moving From:
63.0% from Within OMREB Board Area
12.7% from Alberta
10.5% from Lower Mainland/Vancouver Island
9.4% from Other Areas in BC
2.2% from Saskatchewan/Manitoba
1.7% from Eastern Canada/Maritimes
0.6% from NWT/Yukon (seventh month reported)
0% from Outside Canada
MARCH 2012 RESULTS & HIGHLIGHTS: Click here for full summary of survey with pie charts and here for highlights for the month. For averages for the first quarter of this year (pie-charts), click here, and to download “Who is Buying Homes in the Okanagan-Shuswap?” hand-out for April 2012, click here.
2011 HIGHIGHTS & AVERAGES: Click here for 2011 highlight comparisons for each month in 2011, and here to download pie charts illustrating averages compiled for all five Survey categories during the past year.
REALTORLink Archive: Monthly Buyers Survey results, averages and highlights are posted and archived for easy reference on OMREB's Statistics page on REALTORLink.
Shannon Lake/Smith Creek, West Kelowna
-
The walkout rancher at 3104 Shannon Place has just been sold.
Property information
Don't miss this awesome family home w/4 Bdrms (3 up, 1 down), large private fenced backyard & close to Shannon Lake Elementary School. Tastefully redone with lots of updates; new flooring (carpet/lino/laminate), paint, fixtures, counter tops, kitchen cabinets, appliances & more. The main floor has 3 bedrooms, master w/ 3-piece ensuite, formal dining room, plus a kitchen nook and cozy living room with gas fireplace. The bright walkout lower level has 4th bedroom, bathroom plus a large family room and extra storage space. The kids and pets will love this large private fenced yard (.24 acre) that backs onto park space and being able to walk around the corner to the Elementary School. A great move-in ready home, that won't last long at this price!
For more information on Kelowna Real Estate, please call Jaime Briggs, Coldwell Banker Horizon Realty at 250-860-7500 or go to www.BriggsOnHomes.com