Kelowna real estate market 2009 sale activity numbers

Kelowna real estate market in the early months of 2009 was not unlike other Canadian centres showing slumping sale activity and increased property selection however mid year monthly sales elevated. Fast forward 12 months Kelowna area* 2009 - 3,799 annual sale number total modestly improved over 2008's - 3,773 but still below 2007's - 6,196 historical high. Despite lessen sale activity numbers to previous years 2009 did well in regards to average and median residential prices. Nov ytd 2009 average and median residential prices - $459,321 & $424,000 are stronger than previous years except for 2008's $505,320 & $473,000.

The combination - lower prices and rock-bottom interest rates sparked a new round of buying activity that pulled in potential buyers who put off purchase decisions in late 2008, as well as people who hadn't considered buying before interest rates fell. Kelowna area home sales basically accelerated in tandem with declining interest rates despite the broader economy being in recession of the first half of the year.

Experts predicting 2010 are saying......"should see more property sales than 2009 though expect the trend of rising sales to taper off"....."home prices rebounding and prospect of higher mortgage rates in the future".

Great opportunities in the Kelowna area real estate market whether you are buying or selling!

Contact to june@juneconway.com or 250.317.3136 to take advantage of the 2010 real estate market!