Here is our look at the OMREB numbers in Central Okanagan MLS® real estate.  

For the second month in a row, the Central Okanagan Active listing inventory shows more properties available than in the same months last year.  We will be watching to see if this trend follows through as the Central Okanagan, being largest, sets the pace and tone for our regional real estate performance.

Top Sale:


3122 Watt Road, Kelowna, V1W 3C8
MLS® #:10127700Status:Sold

Zone:Central OkanaganSub Area:LM - Lower Mission
  
Price:$2,395,000
Original Price:$2,595,000
Sold Price:$2,100,000
Days:207

Half acre, level waterfront in premier Lower Mission location. With South West exposure, this magnificent property offers sweeping views over the lake and city of Kelowna. The 2 storey home boasts over 3,000 sq. ft. of extensive renovations and includes 4 bedrooms, 3 baths, huge, island kitchen, hardwood and plenty of tile. Spacious rooms and floor to ceiling windows frame waterfront views. Large master & 4 piece ensuite, tiled, walk-in shower. Expansive open/covered decking surrounded by meticulous landscaping, lakeside fire pit and wharf with power lift. Within walking distance to all the desired amenities of South Pandosy living, this location is one of Kelowna’s finest.


The following charts are based on August 1st - 31st, 2017


Monthly Sales statistics are based on the sales reported by real estate offices on or before the last day of the month. 

 

Condo Apartment
 
Listings Sold
 161
New Listings
 169
Current Inventory
 387
Absorption Rate Sell/List
 41.60%
Months of Inventory on Hand
   2 Months
Days to Sell (Average)
 40
Days to Sell (Range)
 7 to  163
Average Sale Price
$342,670
Median Sale Price
$311,500
Range of Sales Prices
$99,000 - $1,345,000

Hottest Neighbourhood
 Kelowna North


 

Condo Townhouse
 
Listings Sold
 96
New Listings
 124
Current Inventory
 250
Absorption Rate Sell/List
 38.40%
Months of Inventory on Hand
  3 Months
Days to Sell (Average)
 44
Days to Sell (Range)
  2 to 300
Average Sale Price
$448,066
Median Sale Price
$431,950
Range of Sales Prices
$190,900 - $1,720,000

Hottest Neighbourhood
 Rutland North
Building Lot
 
Listings Sold
 29
New Listings
 55
Current Inventory
 348
Absorption Rate Sell/List
8.33%
Months of Inventory on Hand
  12 Months

Days to Sell (Average)
116
Days to Sell (Range)
  8  to  405
Average Sale Price
$416,748
Median Sale Price
$295,000
Range of Sales Prices
$45,000 - $2,138,500

Hottest Neighbourhood
  Fintry

Residential Homes
 
Listings Sold
 230
New Listings
 463
Current Inventory
 958
Absorption Rate Sell/List
 24.01%
Months of Inventory on Hand
  4 Months

Days to Sell (Average)
 46
Days to Sell (Range)
 1 to 226
Average Sale Price
$678,608
Median Sale Price
$646,500
Range of Sales Prices
$260,000 - $2,100,000
Hottest Neighbourhood
 Upper Mission

Ratio of Sales vs Inventory      31.22%


  Totals include variables in any given due to previous month’s collapsed sales and deleted listings. e & eo