Kelowna luxury market

Kelowna's luxury market ~ selling over one million dollars accounts for 3.35% of single family residences sold year-to-date* (ytd) and 4.7% in 2010.  Reality is, today's active real estate market  for Kelowna homes is anything less than the half million dollar range.  Ytd this range has had 62.36%  of the home sales and 62% in 2010.

Upper Mission is one of fifteen Kelowna neighborhoods and tops the list for luxury home sales: 57.89% ytd and 35.5% in 2010.  Lower Mission, Dilworth Mountain and South East Kelowna follow Upper Mission with luxury home sales.

Overall Kelowna has more luxury homes sales than West Kelowna:  76% more ytd and  +73.75%. in 2010.  Of West Kelowna's seven neighborhoods, Lakeview Heights tops the list for the greatest number of million plus home sales ytd and also in 2010.

Both Upper Mission and Lakeview Heights are relatively new neighborhoods with a signifcant amount of new or relatively new homes and many capturing stunning Okanagan Lake views!

It's a super time to be a luxury homebuyer in Kelowna as there is an amazing selection of homes for sale ~ and few luxury price sales!  Check out today's active listing numbers according to Okanagan Mainline Real Estate Board:

ACTIVE MLS LISTINGS

KELOWNA (WEST KELOWNA)

• 479 (323).....<$499,999 range
• 404 (161).....$500,000 to $775,000 range
• 125(36).....$775,000 to $1million range
• 213 (89)..... >$million range

Graphs below put in perspective what price range the home selling activity is happening both in Kelowna and West Kelowna today and how it compares to 2010:

KELOWNA SINGLE FAMILY RESIDENTIAL SALES

WEST KELOWNA SINGLE FAMILY RESIDENTIAL SALES

*year-to-date Jan 1 to Jun 15, 2011