Kelowna home prices not easing up

Kelowna and area Spring home prices trend did not follow Fraser Valley and Metro Vancouver real estate markets which slid into balance in March thus easing the pressure on home prices. Below are the average price or benchmark prices for detached homes showing their change from the previous month.

AVERAGE PRICE
A mean average is the average price obtained by dividing the total dollar volume of sales by the number of sales.

Kelowna and area: $509,894 +2.75%

Kelowna and area 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.

Kelowna: $538,165 +7.12%

City of Kelowna includes the areas of Black Mountain*, Dilworth Mountain, Ellison*, Glenmore, Joe Riche*, Kelowna North, Kelowna South, Lower Mission, North Glenmore, Rutland North, Rutland South, Southeast Kelowna, Springfield/Spall, University District and Upper Mission. *Portions of fall under the jurisdiction of Regional District of Central Okanagan.


BENCHMARK PRICE
Benchmark properties are considered average properties in a given community and do not reflect any one particular property. Benchmark Price is more stable price indicator than average prices, because it tracks movement of "middle-of-the-range" or "typical" homes and excludes the extreme high-end and low-end properties.

Fraser Valley

•Abbotsford: $442,134 +3.1%
•Mission: $354,307 +0.7%
•White Rock/ South Surrey: $763,056 -0.7%
•Langley: $523,065 -3%
•North Delta: $563,533 +4%
•Surrey — Central: $532,477 +0.7%
•Surrey — Cloverdale: $557,524 -0.4%
•Surrey — North: $492,783 +5.6%

Metro Vancouver

•Burnaby: $791,994 -1.5%
•Coquitlam: $719,299 +5.4%
•South Delta: $698,066 +5%
•Maple Ridge: $469,545 +2.6%
•New Westminster: $600,653 -1.2%
•North Vancouver: $938,235 +1.2%
•Pitt Meadows: $541,599 +3.5%
•Port Coquitlam: $575,915 +7%
•Port Moody: $778,751 +32%
•Richmond: $915,679 +2%
•Squamish: $489,321 -5.5%
•Vancouver East: $746,677 +2%
•Vancouver West: $1.7 million +1.1%
•West Vancouver: $1.4 million -3%

Source: Real Estate Board of Greater Vancouver, Fraser Valley Real Estate Board and Okanagan Mainline Real Estate Board


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