Status: Sold (157)
Finished Floor Area
MLS is 'OMREB'
Major Area is 'North Okanagan'
Sub-Area is 'EG - Enderby / Grindrod'
Sold Date is 1/1/2017 to 12/31/2017
Property Type is one of 'Single Family Residential', 'Strata', 'Manufactured Home', 'Lots and Acreages', 'Recreation'
The property mix in this report contains 106 homes, 9 apartments, 11 townhouses, 11 manufactured homes, and 20 land property sales.
Enderby Key Performance Indicator Review 2017
Time frame for the chart above is from Jan 2011 to Dec 2017 and it depicts the absorption rate of real estate specific to the Enderby sub area or neighbourhood with the North Okanagan zone.
From 2011 to early 2015 sellers often faced absorptions rate of 3 years or more based on the number of properties on the market compared to the number of sales. Fast forward to 2017 where most of the year there was less than 10 months supply.
Historic Look At Enderby Real Estate Sales Volume
This chart reflects the MLS® property sales by month. The trend line shows clearly that sales volume has climbed steadily - although the jagged variation shows the seasonal nature of Okanagan real estate sales activity, with less sales in the winter months.
Historic Trend of Active Listings
You can see that the number of properties brought to the market in recent years is trending downward. The first chart we showed you - the absorption rate - is a direct result of the reduction of properties coming to market in combination with the second chart - which shows the increase in properties SOLD. Trends like this tend to favour sellers.
Historic Median / Average Days On Market Trends for Enderby Residential Sale
This chart shows the comparison between the average days a property was on the market. ( From Activation to Final Subject Removal) . Enderby properties generally need more time on the market than in some other neighbourhoods to get sold because of the property mix (acreages). However - you can see the downward trend over time as market activity has picked up since 2014.
Historic Median Sale Price Trend for Enderby Residential Sales
The chart above shows the upward trend of the Median (middle of the market) sale price by month over the last 7 years. Because of the variety of sizes and types of properties sold at Enderby (Acreages etc) the measure of the middle of the market is not as meaningful as it is in other neighbourhoods. It is mandatory to evaluate the properties that sold to gain understanding of the true TRENDS.
Thank you for taking the time to look at our Enderby market synopsis. Please feel free to share it with your friends and neighbours, and especially anyone you may know that might be looking for help selling or buying in Enderby.
Chris, Brent, Shelby, & Brell
REALTORS® along with the amazing
Diane, Kendra, Natalya and Yania