Overall performance of Kelowna's real estate market back to 2004

For the fifth month in a row Kelowna residential home sales fell.  October sales were down 25.5% compared to October 2009 totals.  Average house prices increased to $673,019 by the influences of two pricey October residential sales of $10 mil and $5.4mil.  Average price is calculated by the sum of total month sales divided by the number of month end sales. Median price is determined by arranging the month sales in ascending sale price and the one in the middle is the median.  October median residential price was $427,500 down 4.6% compared to same month last year.

Graphic understanding of Kelowna and area residential sales ytd since 2004 follows below.  Read between the lines....

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