Okanagan real estate update

Here is my update on the Okanagan real estate market. Previous week's numbers are in brackets. For the past 7 days for residential real estate:

• New Listings: 346 (341, 413, 411)
• #Sales: 144 (127, 134, 128)
• Ratio:42% (37%,, 32%, 31%)
• # Price changes up: 5 (7, 8, 10)
• # Price changes down: 280 (267, 273, 301)
• Expired/Off Market Listings: 53 (87, 79, 272)
• Net loss/gain in listings this week: 149 (127, 200, 11)

• Active single family residential listings:4,436
• Active manufactured home listings:516
• Active strata listings:2,219
• Active lots & acreage listings: 2,001

• Single family residential monthly average sale price: $461.717 May ($451,073 April $455,511 March $424,990 February $450,966 January)
• Single famiy residential monthly median sale price: $420,000 May ($409,750 April $410,500 March $395,500 February $391,500 January)
• Manufactured home monthly average sale price: $94,642 May ($97,659 April $87,591 March $96,576 February $85,300 January)
• Manufactured home monthly median sale price: $87,000 May ($88,450 April $76,000 March $69,750 February $57,900 January)
• Strata monthly average sale price: $314,045 May (278,840 April $286646 March $263,972 February $279,533 January)
• Strata monthly median sale price: $294,551 May ($278,768 April $259,900 March $234,900 February $264,000 January)
• Lots & acreage monthly average sale price: $257,028 May ($195,739 April $186,815 March $211,990 February $219,600 January)
• Lots & acreage monthly median sale price $225,000 ($179,000 April $170,000 March $202,500 February $175,100 January)

Okanagan Mainline Real Estate Board (OMREB) has recorded 426 sales so far this month which should put us near the 568 sales OMREB shows for June last year.  Over the years the typical Okanagan market trend is as weather warms up so does it's real estate market with out-of-area buyers but to date it is much less than the years of 2003 to 2007.  The good news is out-of-area buyer interest to purchase has increased the past few months but 'modestly' in contrast to the strongest Okanagan 5 year run for selling activity and sale prices.

Okanagan-ites know a good thing ~ living in the Okanagan and  are taking advantage of today's Buyers market .  Okanagan-ites are the major players of Okanagan real estate moving up, down, or lateral moves, taking on an investment or homeownership for the first time.

Enjoy your Sunday!