House prices for Kelowna and area

Each month of 2010 records respectable sale price gain for Kelowna and area single family residences as well as increasing sale activity.

Kelowna and area (Central Okanagan) includes Beaverdell/Carmi, Black Mountain, Big White, Carr's Landing District, Dilworth Mountain, Ellison, Fintry, Glenmore, Glenrosa, Joe Ritchie, Kelowna North, Kelowna South, Lake Country East/Oyama, Lakeview Heights, Lower Mission, Lake Country West, North Glenmore, Peachland, Rutland North, Rutland South, Southeast Kelowna, Shannon Lake/Smith Creek, Springfield/Spall, University District, Upper Mission, Westbank, West Kelowna and the Westside.

Hard facts from Okanagan Mainline Real Estate Board:

JANUARY 2010

Central Okanagan
$484,065.90 (+17.61%) Average House Price
$441,500 (+11.77%) Median House Price

FEBRUARY 2010

Central Okanagan
$462,256.84 (+3.27%) Average Price
$429,000 (+7.25%) Median Price

MARCH 2010

Central Okanagan
$466,071 (+6.83%) Average Price
$432,000 (+7.33%) Median Price


APRIL 2010

Central Okanagan
$502,523 (+11.64%) Average Price
$461,000 (+11.08%) Median Price


Interestingly, April OMREB stats show Kelowna and area real estate market is seeing rising listing inventories. If this trend continues plus compounded with recent legislated “tougher” mortgage rules, higher borrowing costs and the forthcoming harmonized sales tax -we are apt to experience less sale activity for the balance of the year and 2011.

Inspite of market change it is a great time to buy and or sell.
Contact june@juneconway.com OR 250.317.3136 for a consultation to learn how to max on the forthcoming "likely" more stablized market trend.

Always in the real estate loop! That's June's forte!